Cimarex Energy Co (NYSE:XEC) had its price target lifted by equities research analysts at Barclays PLC from $117.00 to $132.00 in a note issued to investors on Wednesday. The firm currently has an “overweight” rating on the oil and gas producer’s stock. Barclays PLC’s target price points to a potential upside of 15.22% from the company’s current price.
Other equities research analysts have also issued research reports about the company. BidaskClub lowered Cimarex Energy from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Stifel Nicolaus set a $169.00 target price on Cimarex Energy and gave the company a “buy” rating in a research note on Wednesday, August 16th. Scotiabank set a $143.00 target price on Cimarex Energy and gave the company a “buy” rating in a research note on Saturday, July 1st. Jefferies Group LLC set a $98.00 target price on Cimarex Energy and gave the company a “hold” rating in a research note on Tuesday, August 29th. Finally, Piper Jaffray Companies reduced their target price on Cimarex Energy from $141.00 to $116.00 and set a “neutral” rating on the stock in a research note on Monday, September 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $134.86.
Cimarex Energy (NYSE XEC) opened at 114.56 on Wednesday. Cimarex Energy has a 12 month low of $89.49 and a 12 month high of $146.96. The stock has a market cap of $10.70 billion, a P/E ratio of 41.03 and a beta of 1.35. The company’s 50-day moving average price is $107.96 and its 200-day moving average price is $106.17.
Cimarex Energy (NYSE:XEC) last posted its earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.11. Cimarex Energy had a return on equity of 13.29% and a net margin of 15.64%. The firm had revenue of $456.50 million for the quarter, compared to analyst estimates of $441.52 million. During the same quarter in the prior year, the company earned $0.07 EPS. Cimarex Energy’s revenue was up 52.7% on a year-over-year basis. Equities analysts forecast that Cimarex Energy will post $4.20 earnings per share for the current year.
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In related news, VP Stephen P. Bell sold 2,500 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $105.00, for a total value of $262,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Joseph R. Albi sold 4,000 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $106.13, for a total value of $424,520.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,299 shares of company stock valued at $2,204,271. Insiders own 1.70% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Turner Investments LLC acquired a new stake in Cimarex Energy in the 2nd quarter valued at $100,000. Advisor Group Inc. increased its holdings in Cimarex Energy by 5.3% in the 2nd quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock valued at $113,000 after purchasing an additional 60 shares in the last quarter. Global X Management Co. LLC increased its holdings in Cimarex Energy by 14.7% in the 2nd quarter. Global X Management Co. LLC now owns 1,265 shares of the oil and gas producer’s stock valued at $119,000 after purchasing an additional 162 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in Cimarex Energy by 0.7% in the 2nd 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 purchasing an additional 10 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in Cimarex Energy by 8.3% in the 2nd quarter. Pacer Advisors Inc. now owns 1,935 shares of the oil and gas producer’s stock valued at $182,000 after purchasing an additional 148 shares in the last quarter. Hedge funds and other institutional investors own 90.25% 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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