Cimarex Energy Co (NYSE:XEC) had its target price hoisted by research analysts at Barclays PLC from $132.00 to $141.00 in a research note issued to investors on Monday. The firm currently has an “overweight” rating on the oil and gas producer’s stock. Barclays PLC’s price target points to a potential upside of 20.96% from the stock’s previous close.
Other equities analysts also recently issued reports about the stock. BidaskClub downgraded shares of Cimarex Energy from a “sell” rating to a “strong sell” rating in a report on Thursday, August 17th. Stifel Nicolaus set a $169.00 target price on shares of Cimarex Energy and gave the company a “buy” rating in a research report on Wednesday, August 16th. Piper Jaffray Companies reduced their target price on shares of Cimarex Energy from $141.00 to $116.00 and set a “neutral” rating for the company in a research report on Monday, September 18th. Jefferies Group LLC set a $98.00 target price on shares of Cimarex Energy and gave the company a “hold” rating in a research report on Tuesday, August 29th. Finally, KeyCorp reiterated a “buy” rating and issued a $130.00 target price on shares of Cimarex Energy in a research report on Friday, October 20th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $137.05.
Shares of Cimarex Energy (XEC) traded up $0.96 during midday trading on Monday, reaching $116.57. 657,500 shares of the company were exchanged, compared to its average volume of 1,066,262. Cimarex Energy has a 12-month low of $89.49 and a 12-month high of $146.96. The stock has a market capitalization of $10,920.00, a P/E ratio of 30.68 and a beta of 1.35. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.51 and a quick ratio of 1.42.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.12. The firm had revenue of $463.68 million for the quarter, compared to the consensus estimate of $451.53 million. Cimarex Energy had a net margin of 20.45% and a return on equity of 16.11%. The firm’s quarterly revenue was up 38.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 earnings per share. equities analysts predict that Cimarex Energy will post 4.33 earnings per share for the current fiscal year.
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In other news, VP Krista L. Johnson sold 5,341 shares of Cimarex Energy stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $116.46, for a total value of $622,012.86. Following the transaction, the vice president now directly owns 42,938 shares of the company’s stock, valued at approximately $5,000,559.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Stephen P. Bell sold 2,500 shares of Cimarex Energy stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $102.54, for a total transaction of $256,350.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,448 shares of company stock worth $3,540,105. 1.70% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Cimarex Energy by 0.7% in 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 buying an additional 64,420 shares during the period. BlackRock Inc. boosted its position 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 worth $706,278,000 after purchasing an additional 371,390 shares in the last quarter. State Street Corp boosted its position 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 worth $513,162,000 after purchasing an additional 157,612 shares in the last quarter. FMR LLC boosted its position 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 worth $397,166,000 after purchasing an additional 59,537 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its position 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 worth $381,992,000 after purchasing an additional 307,581 shares in the last quarter. 93.44% 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.
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