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XEC - Cimarex Energy: A Good Value At Its Current Share Price
Cimarex Energy Co
Cimarex Energy (XEC) now looks to be on track for roughly neutral cash flow (after dividends) in 2019 at mid-$50s WTI oil. It bumped up its production guidance for 2019 a bit while keeping its capex expectations the same and also expects significant oil production growth in both 2019 and future years. Due to its large amount of natural gas and NGLs production, its projected 2019 revenues have come down a bit more than other producers, as those products (at least in the Permian) have seen more of a decline than oil.