Cimarex Energy (XEC) NewsBite - XEC Higher Following Q3 Income
Posted: Tuesday, November 03, 2009 2:05 PM EDT
By: Market Intelligence Center Staff
Cimarex Energy (NYSE: XEC) opened at $38.70. So far today, the stock has hit a low of $37.62 and a high of $41.00. XEC is now trading at $40.82, up $1.10 (2.76%). The stock hit its 52-Week high of $47.87 earlier this month and set its 52-Week low of $15.35 in March. The stock is trading higher today despite missing third quarter earnings estimates. The company reported quarterly income of $38.7 million verse a loss of $232.4 million during the same period last year. Technical indicators for the stock are neutral and S&P gives XEC a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on XEC the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 30 range. [ABR-Seven Summits Strategic Investments NewsBite]
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