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7 pts

Opinion on  Cimarex Energy Co. (XEC)     Sector: Energy  >  Industry: Oil & Gas Operations
XEC a buy. Undervalued energy company

Jul 12, 2007 05:43 PM GMT
Return Risk
-23.98% HIGH
Analyst

This is more of a natural gas play than an oil play but there is an oil element also.

No matter how you value it (DCF, reserves) XEC is undervalued. Even with conservative numbers future values for gas and oil this is undervalued.

Owned by marty whitman who likes to buy at a 50% discount to NAV. He bought at about $37 making XEC worth $74 or more by his reckoning. McDep Associates uses two different valuation methods and gets $68 and $74

I figure this company is worth at least $70 per share.


XEC:  This call was made on 07/12/07 @ $39.92
Rating:   Positive   $39.92 (07/12/07)
Gain/Loss:   +19.16% in 875 days
Target:   $50.00 (+25.25%) in > one year


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Astukphoto
Armin Stuk   22%     3 points   commented 573 days ago reply

Cimarex Energy Co. (XEC) just posted another great quarter in which its profit more than doubled from the same period last year. The company's excellent results were driven by higher production and a significant increase in the average selling prices of both gas and oil. Moving forward, Cimarex says its plan to invest $1.1 to $1.3 billion in 2008 in development and production projects, which should lead to a production increase between 8% and 12% on the year. Higher volumes, higher prices, this looks like a virtual formula for another great quarter.
see more here:
http://www.zacks.com/newsroom/commentary/index.php?type_id=29

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Who voted on this idea?
Astukphoto
Armin Stuk 22% 05/09/2008



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