Something interesting I've noticed. Analysts have only given a .48 target to XEC for next quarter. That assumes they will only get $3.75 -$4.00 for gas in the second quarter. Well, already, April is in the books. They should have gotten $5.50 + for the month, and the 12 month strip aint lookin' bad. Real good chance they will either blow out earnings next quarter, or the analysts will have to raise their projections soon.
I'm concerned about production falling again by the way the stock has been trading. XEC stock has been very weak lately. Hopefully, mgt will shake things up in a positive way. Right now my favorite play is CRK - even with the overhang from Compression. The stock hit another 52-week high today while XEC has died recently.
tobinator, thanks for your work...now lets hope there isn't a nasty surprise of some kind lurking. Response to earnings last quarter wasn't that great....E&Ps are flat to lower today dispite a surge in NG prices and better crude....Don't like it when the stocks don't follow the commods.
Nevertheless, replaced more of XEC sold above $20 today, figuring numbers like yours stand a pretty good chance of propelling the stock over $21....if NG prices stay above $5.50.
I bailed on this thing early this pm. I had thought it would start acting better than it has recently and then it rolled over today. With the NG situation and the numbers just quoted something seems amiss. Perhaps it's just not on many radar screens. CRK and KWK make me relax more...