Cimarex Energy (XEC) Rating Reiterated by Piper Jaffray Companies

Cimarex Energy (NYSE:XEC)‘s stock had its “hold” rating reissued by analysts at Piper Jaffray Companies in a note issued to investors on Tuesday. They currently have a $138.00 price target on the oil and gas producer’s stock. Piper Jaffray Companies’ price target indicates a potential upside of 7.61% from the company’s previous close.

Several other research analysts have also issued reports on the company. Jefferies Group set a $117.00 target price on Cimarex Energy and gave the stock a “hold” rating in a research report on Wednesday, December 20th. Seaport Global Securities raised Cimarex Energy from a “sell” rating to a “buy” rating in a research report on Tuesday, December 19th. Robert W. Baird assumed coverage on Cimarex Energy in a research report on Tuesday, December 19th. They issued an “outperform” rating and a $137.00 price objective for the company. Credit Suisse Group assumed coverage on Cimarex Energy in a research report on Monday, December 11th. They issued an “outperform” rating and a $140.00 price objective for the company. Finally, Scotiabank set a $143.00 price objective on Cimarex Energy and gave the stock a “buy” rating in a research report on Saturday, November 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $137.67.

Shares of Cimarex Energy (NYSE:XEC) traded up $0.42 during trading hours on Tuesday, reaching $128.24. The company had a trading volume of 808,600 shares, compared to its average volume of 901,620. The company has a market cap of $12,220.00, a price-to-earnings ratio of 32.06 and a beta of 1.33. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.42 and a current ratio of 1.51. Cimarex Energy has a twelve month low of $89.49 and a twelve month high of $144.30.

Cimarex Energy (NYSE:XEC) last announced its earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.12. The business had revenue of $463.68 million during the quarter, compared to analyst estimates of $451.53 million. Cimarex Energy had a return on equity of 16.11% and a net margin of 20.45%. Cimarex Energy’s revenue for the quarter was up 38.1% compared to the same quarter last year. During the same period last year, the company earned $0.53 EPS. equities analysts anticipate that Cimarex Energy will post 4.41 earnings per share for the current fiscal year.

In related news, VP Stephen P. Bell sold 3,696 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $125.11, for a total value of $462,406.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director L Paul Teague sold 3,248 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $125.03, for a total value of $406,097.44. Following the completion of the sale, the director now directly owns 41,146 shares of the company’s stock, valued at $5,144,484.38. The disclosure for this sale can be found here. Insiders sold a total of 32,264 shares of company stock valued at $3,804,134 over the last ninety days. 1.70% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the stock. Atlantic Trust Group LLC acquired a new position in Cimarex Energy during the 3rd quarter valued at about $6,645,000. Parametric Portfolio Associates LLC boosted its stake in Cimarex Energy by 37.9% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 258,902 shares of the oil and gas producer’s stock valued at $29,429,000 after purchasing an additional 71,140 shares during the last quarter. Optimum Investment Advisors acquired a new position in Cimarex Energy during the 3rd quarter valued at about $281,000. Belpointe Asset Management LLC acquired a new position in Cimarex Energy during the 3rd quarter valued at about $311,000. Finally, IFM Investors Pty Ltd acquired a new position in Cimarex Energy during the 3rd quarter valued at about $330,000. 92.00% of the stock is owned by institutional investors and hedge funds.

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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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