Cimarex Energy Co.’s XEC proposed merger deal with Cabot Oil & Gas Corporation COG recently received support from a proxy advisory firm Glass Lewis, per Reuters. Shareholders of the two upstream companies are expected to take into consideration the influential proxy firm’s advice and vote for the deal.On Sep 29, shareholders of Cimarex and Cabot are expected to cast their vote on the potential merger deal. As such, Glass Lewis’ recommendation can positively impact their decision while voting. The deal was announced this May and caught investors by surprise. While most of the recent mergers and acquisitions in the upstream spectrum were witnessed between companies with overlapping acreages, the Cimarex-Cabot deal is likely to bring together different shale plays under one E&P portfolio.Investors, at first, gave a thumbs down to the combination. With no acreage overlap, the strategic rationale behind the amalgamation of Cabot (a natural gas operator in the Appalachian Marcellus shale basin) and Cimarex, which primarily drills for oil in the Permian and Anadarko basins, seemed vague. However, the combination is now slowly but steadily gaining interest. The combined entity is expected to be one of the biggest U.S. shale players, with an increased footprint in major production sites.The move will likely combine two leading industry operators, and world-class gas and oil facilities to form an upstream giant with a diversified and balanced portfolio, thus creating an opportunity to generate more free cash flow throughout the market cycle and higher returns for investors. It intends to declare and pay out a special dividend of 50 cents per share to all common shareholders shortly after the deal closes. The deal is expected to save $100 million worth of annual costs.Price PerformanceCimarex has gained 98.8% year to date compared with a 74.5% rise of the industry it belongs to.Image Source: Zacks Investment ResearchZacks Rank & Other Stocks to ConsiderCurrently, Cimarex has a Zacks Rank #2 (Buy). Other top-ranked stocks from the energy space include Devon Energy Corporation DVN and Comstock Resources, Inc. CRK, each having a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Devon Energy’s bottom line for 2021 is pegged at $2.78 per share, indicating a massive improvement from the year-ago loss of 9 cents.The consensus estimate for Comstock Resources’ earnings for 2021 is pegged at $1.10 per share, indicating a major increase from the year-ago figure of 23 cents. Time to Invest in Legal Marijuana If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027. After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%. You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Devon Energy Corporation (DVN): Free Stock Analysis Report Cabot Oil & Gas Corporation (COG): Free Stock Analysis Report Comstock Resources, Inc. (CRK): Get Free Report Cimarex Energy Co (XEC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research