Clutching At Straws? – Cimarex Energy Co. (XEC), BHP Group (BHP)

The stocks of Cimarex Energy Co. (NYSE:XEC) has been Downgraded as a In-line from Outperform by Imperial Capital in its latest research note that was published on July 16. XEC was given a price target of $58 by Imperial Capital, with other Wall Street analysts also giving their reports regarding the stock. The stock also received a Outperform to Market Perform rating from BMO Capital Markets but the price target for XEC was set at $82 to $67. This was contained in a research note published by the firm on July 11. The stock received a Overweight rating and a price target of $66 in KeyBanc Capital Markets’s research note that was published on June 27.

Cimarex’s stock is covered by 31 analysts, with 15 of them rating the stock as Buy. It has been deemed to have strong buy by 3 of the analysts, 12 of them have rated it as a Hold while none of them rated it as sell. The situation was different a month ago when the stock was rated as a Buy by only 15 analysts. 4 of them rated it as strong buy with 12 of them recommended investors to Hold on to the stock. Meanwhile, 1 analyst(s) rated it as a sell. The above data shows that XEC has an average analyst rating of Overweight.

Cimarex Energy Co., which has current market capitalization of above $4 Billion, published its last quarter earnings on June 30, 2019. The company was able to amass $546 Million in revenue, which saw a quarterly growth rate of -1.76 percent. During the that quarter of the year, Cimarex also recorded $0.82 earnings per share (EPS) which is $-0.38 above the $1.2 estimated by the analysts, leading to a surprise factor of -31.67%.

XEC declined by $-0.02 during the normal trading session on Tuesday and reaching a high of $45.30 during the day while it closed the day at $43.93. The Cimarex stock had a low trading volume of 1.93 million shares on that day, which is low compared to the average daily volume of 2.03M shares. XEC has also lost 3.07% of its value over the past 7 days. However, the stock has declined by 23.05% in the 3 months of the year. Over the past six months meanwhile, it has lost 34.26% while it has lost 28.74% year-on date.

Shares in BHP Group (NYSE:BHP) fell by -0.33 percent on Tuesday. The company’s stock began trading at $47.64 below the previous closing price of $47.8, and finished the day at $47.47. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -19.38% from its 3 months high price. However, taking another look at BHP will indicate that it is trading +1.85% away from its 90-day low. Looking at the bigger picture, the BHP Group stock has dropped by -19.57% from its 52-week high while it has surged by +8.75% from its 52-week low price.

Let us now take a quick look at the stock’s short, medium and long-term indicators. Composite Indicator shows that BHP stock was rated as a Sell by TrendSpotter. Its short-term indicators reveal that BHP has a 20-day average volume of 1799235 shares. This has led to the BHP price forecast being placed as a 50% Sell on an average basis. In the medium term, however, the BHP stock has its 50-Day average volume of 2013856 shares, with the indicators also rating it as a 100% Sell. Finally, in the long-term, the BHP stocks have a 100-Day average volume of 1907651 shares, with the long-term indicators rating the stock as just 50% Sell.

BHP has around 16 Billion cash on their books at the moment. This figure will have to be compared and looked into, with their current liabilities standing at $18 Billion. The BHP stock is bringing in revenue of over 12 months, which is roughly 44 Billion.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 8.77%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 11.35%. Over the past 20 days, BHP’s Stochastic %K stood at 18.98% while its Stochastic %D was revealed to be 19.41%.