Cimarex Energy (XEC) Receives Hold Rating from Piper Jaffray Companies

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.

TRADEMARK VIOLATION WARNING: This piece was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this piece on another site, it was copied illegally and republished in violation of United States and international copyright and trademark law. The original version of this piece can be accessed at https://www.dispatchtribunal.com/2018/02/04/cimarex-energys-xec-hold-rating-reiterated-at-piper-jaffray-companies.html.

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)

Receive News & Ratings for Cimarex Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cimarex Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply