Cimarex's Third Quarter: Limited Information on Long-Lateral Repeat-ability; Company Overvalued
After digesting Cimarex’s third quarter results--which provided very little new information that would help investors understand how repeatable the company’s long-lateral, high-proppant well results are across its Permian and Mid-Continent leasehold--we stand by our contrarian thesis that the stock is meaningfully overvalued. Our $89 fair value estimate and narrow moat rating remain unchanged.In our opinion, the burden of justifying its elevated stock price falls on the company's shoulders, ach...
Cimarex Energy is an independent oil and gas exploration and production company. The company's operations are mainly located in Texas, New Mexico, and Oklahoma. The company's operations are focused in two main areas: the Permian Basin and the Mid-Continent. The company's Permian Basin region encompasses west Texas and southeast New Mexico. The company's Mid-Continent region consists of Oklahoma and the Texas Panhandle.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.