Cimarex Energy (NYSE:XEC)‘s stock had its “hold” rating reissued by research analysts at Piper Jaffray Companies in a note issued to investors on Tuesday, January 9th. They presently have a $138.00 price target on the oil and gas producer’s stock. Piper Jaffray Companies’ price target would indicate a potential upside of 24.38% from the stock’s previous close.
Several other analysts also recently weighed in on XEC. Morgan Stanley lifted their target price on Cimarex Energy from $138.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th. Credit Suisse Group assumed coverage on Cimarex Energy in a research note on Monday, December 11th. They set an “outperform” rating and a $140.00 price target on the stock. Seaport Global Securities raised Cimarex Energy from a “sell” rating to a “buy” rating in a report on Tuesday, December 19th. Stifel Nicolaus set a $168.00 target price on Cimarex Energy and gave the stock a “buy” rating in a research note on Thursday, October 5th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $130.00 price target on shares of Cimarex Energy in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $140.90.
Shares of Cimarex Energy (NYSE XEC) opened at $110.95 on Tuesday. Cimarex Energy has a fifty-two week low of $89.49 and a fifty-two week high of $136.31. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.62. The stock has a market cap of $10,340.00, a P/E ratio of 27.74 and a beta of 1.14.
In other Cimarex Energy news, CEO Thomas E. Jorden sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $122.88, for a total transaction of $307,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lisa A. Stewart purchased 248 shares of the business’s stock in a transaction on Friday, December 8th. The shares were acquired at an average price of $112.06 per share, with a total value of $27,790.88. The disclosure for this purchase can be found here. In the last quarter, insiders sold 32,264 shares of company stock valued at $3,804,134. 1.70% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in 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 worth $930,634,000 after acquiring an additional 64,420 shares during the period. BlackRock Inc. grew its holdings in 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 acquiring an additional 371,390 shares during the period. State Street Corp grew its holdings in 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 acquiring an additional 157,612 shares during the period. FMR LLC grew its holdings in 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 acquiring an additional 59,537 shares during the period. Finally, Boston Partners grew its holdings in Cimarex Energy by 28.0% during the 4th quarter. Boston Partners now owns 1,812,143 shares of the oil and gas producer’s stock worth $221,100,000 after acquiring an additional 395,877 shares during the period. 92.31% 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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