Gauging Cimarex Energy’s Stock Performance after 3Q16 Earnings


Nov. 4 2016, Updated 5:04 p.m. ET

Cimarex Energy’s stock performance

After Cimarex Energy’s (XEC) 3Q16 after-market earnings release, its stock fell ~5% the next day.

Year-over-year (or YoY), XEC has risen ~0.67%. In this part of our series, we’ll analyze Cimarex Energy’s stock performance with respect to movements in the broader industry and the broader market.

As the graph above shows, Cimarex Energy’s performance has been driven mainly by WTI (West Texas Intermediate) crude oil prices (OIL) and natural gas prices. Crude oil prices and natural gas prices (UNG) have also been driving the broader industry ETF, the Energy Select Sector SPDR ETF (XLE).

From October 21 to November 3, Cimarex Energy’s stock was underperforming the Energy Select Sector SPDR ETF (XLE). Toward the end of the period, it ended up giving lower returns compared to XLE. Cimarex Energy’s stock fell ~11% during this period while XLE fell ~3%.

Cimarex Energy’s stock also underperformed the SPDR S&P 500 ETF (SPY), which fell 2.4% at the end of the period.

Cimarex Energy’s stock fell ~5% on November 3 despite its earnings beat. A ~2% decrease in crude oil prices could be one of the reasons why XEC’s stock fell on November 3.

Please read the first part of this series to learn more about Cimarex Energy’s 3Q16 performance.

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