Cimarex Energy (XEC) Rating Lowered to Hold at KLR Group

Cimarex Energy (NYSE:XEC) was downgraded by stock analysts at KLR Group from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, January 23rd, MarketBeat Ratings reports. They currently have a $138.00 price target on the oil and gas producer’s stock. KLR Group’s price objective points to a potential upside of 35.04% from the stock’s current price.

A number of other brokerages have also weighed in on XEC. Stifel Nicolaus set a $168.00 price objective on shares of Cimarex Energy and gave the company a “buy” rating in a report on Thursday, October 5th. Credit Suisse Group initiated coverage on shares of Cimarex Energy in a report on Monday, December 11th. They set an “outperform” rating and a $140.00 price objective for the company. Morgan Stanley lifted their price objective on shares of Cimarex Energy from $138.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, October 18th. Jefferies Group set a $117.00 price objective on shares of Cimarex Energy and gave the company a “hold” rating in a report on Wednesday, December 20th. Finally, UBS Group lowered shares of Cimarex Energy from a “positive” rating to a “neutral” rating in a report on Monday, November 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the company. Cimarex Energy currently has a consensus rating of “Buy” and an average target price of $140.62.

Cimarex Energy (XEC) traded up $2.41 during trading on Tuesday, hitting $102.19. 1,561,630 shares of the stock traded hands, compared to its average volume of 1,108,490. The company has a market cap of $9,730.00, a price-to-earnings ratio of 25.55 and a beta of 1.14. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 0.62. Cimarex Energy has a 12-month low of $89.49 and a 12-month high of $136.15.

Cimarex Energy (NYSE:XEC) last released its earnings results on Wednesday, February 14th. The oil and gas producer reported $1.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.25. The firm had revenue of $550.90 million during the quarter, compared to analyst estimates of $537.74 million. Cimarex Energy had a net margin of 20.45% and a return on equity of 16.11%. The business’s revenue was up 44.1% on a year-over-year basis. During the same quarter last year, the business earned $0.60 EPS. equities analysts forecast that Cimarex Energy will post 4.59 EPS for the current year.

In other news, VP Joseph R. Albi sold 1,750 shares of Cimarex Energy stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $114.78, for a total value of $200,865.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Thomas E. Jorden sold 2,500 shares of Cimarex Energy stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $122.88, for a total transaction of $307,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 17,479 shares of company stock worth $2,000,868 in the last three months. Insiders own 1.70% of the company’s stock.

Several institutional investors have recently modified their holdings of XEC. Cornerstone Capital Management Holdings LLC. lifted its position in shares of Cimarex Energy by 10.3% during the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 17,910 shares of the oil and gas producer’s stock worth $2,184,000 after purchasing an additional 1,667 shares in the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of Cimarex Energy by 4.5% during the fourth quarter. TIAA CREF Investment Management LLC now owns 315,322 shares of the oil and gas producer’s stock worth $38,472,000 after purchasing an additional 13,574 shares in the last quarter. Raymond James & Associates lifted its position in shares of Cimarex Energy by 11.9% during the fourth quarter. Raymond James & Associates now owns 161,308 shares of the oil and gas producer’s stock worth $19,681,000 after purchasing an additional 17,168 shares in the last quarter. Ellington Management Group LLC acquired a new stake in shares of Cimarex Energy during the fourth quarter worth about $622,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Cimarex Energy by 19.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 572,047 shares of the oil and gas producer’s stock worth $69,796,000 after purchasing an additional 93,327 shares in the last quarter. 93.28% of the stock is currently owned by hedge funds and other institutional investors.

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Cimarex Energy Company Profile

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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