Cimarex Energy Co (XEC) Stock Rating Reaffirmed by Citigroup Inc.

Cimarex Energy Co (NYSE:XEC)‘s stock had its “buy” rating restated by investment analysts at Citigroup Inc. in a report released on Friday. They currently have a $120.00 price target on the oil and gas producer’s stock. Citigroup Inc.’s price objective would suggest a potential upside of 4.75% from the company’s current price.

Several other research firms have also recently issued reports on XEC. Stifel Nicolaus set a $168.00 price target on Cimarex Energy and gave the stock a “buy” rating in a research note on Thursday, October 5th. Barclays PLC raised their target price on Cimarex Energy from $112.00 to $117.00 and gave the company an “overweight” rating in a research note on Tuesday, August 15th. BidaskClub raised Cimarex Energy from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 24th. Jefferies Group LLC reaffirmed a “hold” rating and set a $119.00 target price on shares of Cimarex Energy in a research note on Thursday, July 6th. Finally, Cowen and Company set a $135.00 target price on Cimarex Energy and gave the company a “buy” rating in a research note on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the stock. Cimarex Energy has a consensus rating of “Buy” and a consensus price target of $134.86.

Cimarex Energy (XEC) traded up 1.08% during trading on Friday, reaching $115.80. 83,280 shares of the company were exchanged. The firm’s 50 day moving average is $107.96 and its 200 day moving average is $106.17. Cimarex Energy has a 52-week low of $89.49 and a 52-week high of $146.96. The stock has a market capitalization of $10.82 billion, a PE ratio of 41.48 and a beta of 1.35.

Cimarex Energy (NYSE:XEC) last released its quarterly earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.11. Cimarex Energy had a return on equity of 13.29% and a net margin of 15.64%. The company had revenue of $456.50 million during the quarter, compared to analysts’ expectations of $441.52 million. During the same quarter in the prior year, the business posted $0.07 earnings per share. The company’s revenue for the quarter was up 52.7% compared to the same quarter last year. Analysts expect that Cimarex Energy will post $4.20 EPS for the current year.

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In other news, VP Joseph R. Albi sold 4,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $106.13, for a total transaction of $424,520.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas E. Jorden sold 2,500 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $101.67, for a total value of $254,175.00. The disclosure for this sale can be found here. Insiders have sold a total of 21,299 shares of company stock valued at $2,204,271 over the last ninety days. Company insiders own 1.70% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Cimarex Energy by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 9,899,309 shares of the oil and gas producer’s stock valued at $930,634,000 after acquiring an additional 64,420 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Cimarex Energy by 5.2% during the 2nd quarter. BlackRock Inc. now owns 7,512,811 shares of the oil and gas producer’s stock valued at $706,278,000 after acquiring an additional 371,390 shares during the last quarter. State Street Corp increased its holdings in shares of Cimarex Energy by 3.0% during the 2nd quarter. State Street Corp now owns 5,458,745 shares of the oil and gas producer’s stock valued at $513,162,000 after acquiring an additional 157,612 shares during the last quarter. FMR LLC increased its holdings in shares of Cimarex Energy by 1.4% during the 2nd quarter. FMR LLC now owns 4,224,735 shares of the oil and gas producer’s stock valued at $397,166,000 after acquiring an additional 59,537 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its holdings in shares of Cimarex Energy by 8.2% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 4,063,310 shares of the oil and gas producer’s stock valued at $381,992,000 after acquiring an additional 307,581 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

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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