Cimarex Energy (XEC) PT Set at $129.00 by Williams Capital

Cimarex Energy (NYSE:XEC) has been given a $129.00 price objective by analysts at Williams Capital in a research report issued to clients and investors on Wednesday. The firm presently has a “buy” rating on the oil and gas producer’s stock. Williams Capital’s price objective would suggest a potential upside of 42.37% from the stock’s previous close.

Several other research firms have also recently commented on XEC. Wolfe Research upgraded shares of Cimarex Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, October 17th. JPMorgan Chase & Co. cut shares of Cimarex Energy from an “overweight” rating to a “neutral” rating and set a $110.00 price target on the stock. in a report on Wednesday, August 8th. ValuEngine upgraded shares of Cimarex Energy from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 9th. Morgan Stanley lowered their price target on shares of Cimarex Energy from $123.00 to $118.00 and set a “buy” rating on the stock in a report on Wednesday, September 26th. Finally, Credit Suisse Group lowered their price target on shares of Cimarex Energy from $116.00 to $112.00 and set a “buy” rating on the stock in a report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $130.67.

Cimarex Energy stock opened at $90.61 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.27 and a current ratio of 1.34. Cimarex Energy has a 12 month low of $77.63 and a 12 month high of $130.16. The firm has a market cap of $7.93 billion, a PE ratio of 19.49 and a beta of 1.04.

Cimarex Energy (NYSE:XEC) last posted its quarterly earnings results on Tuesday, November 6th. The oil and gas producer reported $1.99 EPS for the quarter, beating the consensus estimate of $1.52 by $0.47. Cimarex Energy had a net margin of 28.70% and a return on equity of 23.95%. The business had revenue of $591.50 million for the quarter, compared to analysts’ expectations of $561.67 million. During the same period in the previous year, the company posted $1.09 EPS. Cimarex Energy’s revenue was up 27.6% on a year-over-year basis. As a group, equities analysts expect that Cimarex Energy will post 6.92 earnings per share for the current fiscal year.

In other Cimarex Energy news, Director Lisa A. Stewart acquired 320 shares of Cimarex Energy stock in a transaction that occurred on Thursday, August 30th. The stock was acquired at an average price of $84.05 per share, with a total value of $26,896.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.70% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in XEC. Boston Partners lifted its position in Cimarex Energy by 211.8% during the 2nd quarter. Boston Partners now owns 4,978,018 shares of the oil and gas producer’s stock worth $506,463,000 after acquiring an additional 3,381,576 shares during the last quarter. Victory Capital Management Inc. lifted its position in Cimarex Energy by 24.6% during the 2nd quarter. Victory Capital Management Inc. now owns 2,220,671 shares of the oil and gas producer’s stock worth $225,931,000 after acquiring an additional 437,851 shares during the last quarter. American Century Companies Inc. lifted its position in Cimarex Energy by 23.3% during the 2nd quarter. American Century Companies Inc. now owns 1,928,870 shares of the oil and gas producer’s stock worth $196,243,000 after acquiring an additional 365,044 shares during the last quarter. Millennium Management LLC lifted its position in Cimarex Energy by 130.5% during the 2nd quarter. Millennium Management LLC now owns 559,824 shares of the oil and gas producer’s stock worth $56,956,000 after acquiring an additional 316,975 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its position in Cimarex Energy by 6.2% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 5,396,174 shares of the oil and gas producer’s stock worth $549,007,000 after acquiring an additional 312,747 shares during the last quarter. 98.15% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Cimarex Energy (NYSE:XEC)

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