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.
COPYRIGHT VIOLATION NOTICE: This report was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this report on another publication, it was illegally copied and republished in violation of U.S. & international copyright law. The original version of this report can be read at https://www.dispatchtribunal.com/2018/02/14/cimarex-energy-xec-cut-to-hold-at-klr-group-3.html.
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.
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.