Cimarex Energy Co (NYSE:XEC)‘s stock had its “buy” rating restated by equities researchers at Stifel Nicolaus in a note issued to investors on Friday. They currently have a $169.00 target price on the oil and gas producer’s stock. Stifel Nicolaus’ price objective points to a potential upside of 79.54% from the stock’s previous close.
Several other research firms have also weighed in on XEC. Seaport Global Securities lowered Cimarex Energy from a “buy” rating to a “neutral” rating in a report on Friday, March 31st. Jefferies Group LLC restated a “hold” rating and set a $123.00 target price on shares of Cimarex Energy in a report on Tuesday, April 18th. Barclays PLC restated an “overweight” rating and set a $129.00 target price (down from $139.00) on shares of Cimarex Energy in a report on Saturday, April 22nd. Citigroup Inc. restated a “buy” rating and set a $166.00 target price (up from $164.00) on shares of Cimarex Energy in a report on Saturday, April 22nd. Finally, UBS AG restated a “neutral” rating and set a $134.00 target price (up from $131.00) on shares of Cimarex Energy in a report on Friday, May 12th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $138.90.
Shares of Cimarex Energy (NYSE:XEC) opened at 94.13 on Friday. Cimarex Energy has a 52 week low of $89.49 and a 52 week high of $146.96. The firm’s market capitalization is $8.79 billion. The firm’s 50-day moving average price is $104.05 and its 200 day moving average price is $121.82.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings data on Wednesday, May 10th. The oil and gas producer reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.20. Cimarex Energy had a positive return on equity of 9.03% and a negative net margin of 7.78%. The firm had revenue of $447.20 million during the quarter, compared to analysts’ expectations of $423.62 million. During the same quarter last year, the firm earned ($0.40) earnings per share. The business’s revenue for the quarter was up 85.9% on a year-over-year basis. On average, analysts anticipate that Cimarex Energy will post $4.41 EPS for the current year.
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In related news, CEO Thomas E. Jorden sold 2,500 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $116.40, for a total transaction of $291,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director L Paul Teague sold 1,038 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $120.00, for a total value of $124,560.00. Following the transaction, the director now owns 44,394 shares in the company, valued at $5,327,280. The disclosure for this sale can be found here. Insiders have sold 8,538 shares of company stock worth $1,001,760 over the last 90 days. Corporate insiders own 1.70% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue raised its position in shares of Cimarex Energy by 0.7% in the second quarter. State of Alaska Department of Revenue now owns 1,427 shares of the oil and gas producer’s stock valued at $134,000 after buying an additional 10 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Cimarex Energy by 0.4% in the second quarter. Fisher Asset Management LLC now owns 3,013 shares of the oil and gas producer’s stock valued at $283,000 after buying an additional 13 shares in the last quarter. Cleararc Capital Inc. raised its position in shares of Cimarex Energy by 1.3% in the first quarter. Cleararc Capital Inc. now owns 2,347 shares of the oil and gas producer’s stock valued at $280,000 after buying an additional 30 shares in the last quarter. Eagle Ridge Investment Management raised its position in shares of Cimarex Energy by 3.0% in the first quarter. Eagle Ridge Investment Management now owns 1,720 shares of the oil and gas producer’s stock valued at $206,000 after buying an additional 50 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Cimarex Energy by 2.0% in the first quarter. Daiwa Securities Group Inc. now owns 2,550 shares of the oil and gas producer’s stock valued at $305,000 after buying an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 92.70% of the company’s stock.
Cimarex Energy Company Profile
Cimarex Energy Co is an independent oil and gas exploration and production company. The Company operates in exploration and production (E&P) segment. Its operations are located in Oklahoma, Texas and New Mexico. Its E&P activities take place primarily in two areas: the Permian Basin and the Mid-Continent region.
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