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.
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.
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