Cimarex Energy (XEC) Now Covered by Robert W. Baird

Analysts at Robert W. Baird initiated coverage on shares of Cimarex Energy (NYSE:XEC) in a research note issued on Tuesday. The firm set an “outperform” rating and a $137.00 price target on the oil and gas producer’s stock. Robert W. Baird’s price objective would indicate a potential upside of 19.25% from the company’s previous close.

XEC has been the subject of a number of other research reports. KeyCorp restated a “buy” rating on shares of Cimarex Energy in a research report on Wednesday, November 8th. Morgan Stanley boosted their price objective on Cimarex Energy from $138.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. Williams Capital boosted their price objective on Cimarex Energy from $132.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, October 18th. Stifel Nicolaus set a $168.00 price objective on Cimarex Energy and gave the company a “buy” rating in a research report on Thursday, October 5th. Finally, Citigroup restated a “buy” rating and set a $120.00 price objective on shares of Cimarex Energy in a research report on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $136.71.

Shares of Cimarex Energy (NYSE XEC) opened at $114.88 on Tuesday. Cimarex Energy has a twelve month low of $89.49 and a twelve month high of $144.30. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.51 and a quick ratio of 1.42. The firm has a market capitalization of $10,827.35, a P/E ratio of 29.91 and a beta of 1.34.

Cimarex Energy (NYSE:XEC) last issued its quarterly earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.12. Cimarex Energy had a return on equity of 16.11% and a net margin of 20.45%. The business had revenue of $463.68 million during the quarter, compared to the consensus estimate of $451.53 million. During the same period in the previous year, the business earned $0.53 EPS. The business’s quarterly revenue was up 38.1% on a year-over-year basis. sell-side analysts predict that Cimarex Energy will post 4.36 earnings per share for the current fiscal year.

In other Cimarex Energy news, VP Stephen P. Bell sold 3,696 shares of the business’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $125.11, for a total transaction of $462,406.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joseph R. Albi sold 2,000 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $112.41, for a total value of $224,820.00. The disclosure for this sale can be found here. Insiders have sold a total of 29,764 shares of company stock valued at $3,496,934 in the last quarter. 1.70% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Cimarex Energy by 0.7% in the second quarter. Vanguard Group Inc. now owns 9,899,309 shares of the oil and gas producer’s stock valued at $930,634,000 after buying an additional 64,420 shares during the period. BlackRock Inc. lifted its holdings in shares of Cimarex Energy by 5.2% in the second quarter. BlackRock Inc. now owns 7,512,811 shares of the oil and gas producer’s stock valued at $706,278,000 after buying an additional 371,390 shares during the period. State Street Corp lifted its holdings in shares of Cimarex Energy by 3.0% in the second quarter. State Street Corp now owns 5,458,745 shares of the oil and gas producer’s stock valued at $513,162,000 after buying an additional 157,612 shares during the period. FMR LLC lifted its holdings in shares of Cimarex Energy by 1.4% in the second quarter. FMR LLC now owns 4,224,735 shares of the oil and gas producer’s stock valued at $397,166,000 after buying an additional 59,537 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Cimarex Energy by 41.8% in the third quarter. Ameriprise Financial Inc. now owns 1,623,569 shares of the oil and gas producer’s stock valued at $184,549,000 after buying an additional 478,543 shares during the period. Institutional investors and hedge funds own 92.03% of the company’s stock.

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About Cimarex Energy

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.

Analyst Recommendations for Cimarex Energy (NYSE:XEC)

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