Shares of Cimarex Energy Co (NYSE:XEC) have been assigned an average recommendation of “Buy” from the twenty-seven analysts that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $135.21.
A number of equities research analysts recently weighed in on XEC shares. SunTrust Banks set a $130.00 price objective on Cimarex Energy and gave the stock a “buy” rating in a research report on Monday, April 16th. Piper Jaffray Companies restated a “hold” rating and set a $132.00 price objective on shares of Cimarex Energy in a research report on Wednesday, April 18th. Morgan Stanley cut their target price on Cimarex Energy from $157.00 to $140.00 and set an “overweight” rating on the stock in a report on Friday, April 20th. Stifel Nicolaus set a $187.00 target price on Cimarex Energy and gave the stock a “buy” rating in a report on Monday, April 23rd. Finally, Stephens reaffirmed a “hold” rating and set a $101.00 target price on shares of Cimarex Energy in a report on Tuesday, April 24th.
XEC stock traded up $1.12 during midday trading on Thursday, reaching $89.99. 1,693,466 shares of the stock were exchanged, compared to its average volume of 1,325,663. The firm has a market capitalization of $8.47 billion, a P/E ratio of 14.89 and a beta of 1.00. Cimarex Energy has a 52 week low of $82.45 and a 52 week high of $130.16. The company has a quick ratio of 1.40, a current ratio of 1.34 and a debt-to-equity ratio of 0.52.
In other news, Director L Paul Teague sold 1,040 shares of the business’s stock in a transaction dated Wednesday, June 27th. The stock was sold at an average price of $100.10, for a total value of $104,104.00. Following the transaction, the director now directly owns 40,106 shares of the company’s stock, valued at approximately $4,014,610.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lisa A. Stewart acquired 722 shares of the company’s stock in a transaction dated Friday, June 1st. The stock was acquired at an average cost of $89.98 per share, for a total transaction of $64,965.56. Following the completion of the purchase, the director now directly owns 6,576 shares in the company, valued at $591,708.48. The disclosure for this purchase can be found here. 1.70% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in XEC. Envestnet Asset Management Inc. lifted its stake in shares of Cimarex Energy by 36.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 12,007 shares of the oil and gas producer’s stock valued at $1,465,000 after purchasing an additional 3,231 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in shares of Cimarex Energy by 18.1% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 5,083,427 shares of the oil and gas producer’s stock valued at $475,300,000 after purchasing an additional 780,604 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Cimarex Energy by 29.4% in the 1st quarter. Wells Fargo & Company MN now owns 1,948,829 shares of the oil and gas producer’s stock valued at $182,217,000 after purchasing an additional 442,696 shares during the period. Howland Capital Management LLC lifted its stake in shares of Cimarex Energy by 35.2% in the 1st quarter. Howland Capital Management LLC now owns 115,384 shares of the oil and gas producer’s stock valued at $10,788,000 after purchasing an additional 30,012 shares during the period. Finally, Dupont Capital Management Corp acquired a new position in shares of Cimarex Energy in the 1st quarter valued at about $158,000. 94.45% of the stock is currently owned by institutional investors.
Cimarex Energy Company Profile
Cimarex Energy Co operates as an independent oil and gas exploration and production company primarily in Oklahoma, Texas, and New Mexico. As of December 31, 2017, it had a total proved oil and gas reserves of 3.35 trillion cubic feet equivalent (Tcfe) consisting of 1.61 trillion cubic feet of natural gas, 0.82 Tcfe of oil, and 0.92 Tcfe of natural gas liquids primarily located in the Mid-Continent and Permian Basin regions.
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