This article was originally published by TheStreet on October 23, 2014
By Sarfaraz A. Khan. Research Asst: Daniel L.
NEW YORK (TheStreet) -- Oil and gas producer Cimarex Energy (XEC) is gearing up to report its third quarter results on Nov. 4 and savvy investors may want to take a pass on the stock -- for now.
Cimarex is an exploration and production company that gets around three-quarters of its production from the prolific Permian Basin in West Texas. However, unlike other Permian Basin oil producers, such as, Energen (EGN) , Diamondback Energy (FANG) and Pioneer Natural Resources (PXD) , Cimarex is heavily weighted toward natural gas. Roughly half of Cimarex's total production output comes from natural gas, while oil and natural gas liquids comprise the rest.
Cimarex is an exploration and production company that gets around three-quarters of its production from the prolific Permian Basin in West Texas. However, unlike other Permian Basin oil producers, such as, Energen (EGN) , Diamondback Energy (FANG) and Pioneer Natural Resources (PXD) , Cimarex is heavily weighted toward natural gas. Roughly half of Cimarex's total production output comes from natural gas, while oil and natural gas liquids comprise the rest.
