Cimarex Energy (NYSE:XEC) has been given a $131.00 price objective by equities research analysts at Piper Jaffray in a research report issued on Wednesday, March 14th. The firm currently has a “hold” rating on the oil and gas producer’s stock. Piper Jaffray’s price target would indicate a potential upside of 44.82% from the stock’s current price.
XEC has been the subject of several other research reports. Jefferies Group set a $115.00 price objective on shares of Cimarex Energy and gave the stock a “hold” rating in a research report on Thursday, November 16th. SunTrust Banks upgraded shares of Cimarex Energy from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research report on Tuesday, February 6th. Cowen set a $165.00 price objective on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Thursday, January 18th. Scotiabank set a $143.00 target price on shares of Cimarex Energy and gave the company a “buy” rating in a research report on Saturday, November 25th. Finally, Robert W. Baird began coverage on shares of Cimarex Energy in a research report on Tuesday, December 19th. They set an “outperform” rating and a $137.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $136.32.
XEC stock traded down $3.49 during trading on Wednesday, hitting $90.46. The company had a trading volume of 2,501,183 shares, compared to its average volume of 1,247,778. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.38 and a quick ratio of 1.30. Cimarex Energy has a 12 month low of $87.98 and a 12 month high of $130.16. The stock has a market capitalization of $8,633.32, a PE ratio of 19.45 and a beta of 1.19.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings data on Wednesday, February 14th. The oil and gas producer reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.07. Cimarex Energy had a net margin of 25.77% and a return on equity of 18.73%. The firm had revenue of $550.90 million during the quarter, compared to analysts’ expectations of $537.74 million. During the same quarter in the previous year, the company posted $0.60 EPS. Cimarex Energy’s revenue was up 44.1% on a year-over-year basis. equities analysts expect that Cimarex Energy will post 7.21 earnings per share for the current fiscal year.
In other news, Director Harold R. Logan, Jr. sold 1,900 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $97.82, for a total transaction of $185,858.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.70% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN raised its holdings in shares of Cimarex Energy by 172.6% in the 3rd quarter. Wells Fargo & Company MN now owns 1,352,468 shares of the oil and gas producer’s stock valued at $153,734,000 after purchasing an additional 856,274 shares during the period. American Century Companies Inc. raised its holdings in shares of Cimarex Energy by 226.7% in the 4th quarter. American Century Companies Inc. now owns 879,814 shares of the oil and gas producer’s stock valued at $107,346,000 after purchasing an additional 610,508 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Cimarex Energy by 41.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,623,569 shares of the oil and gas producer’s stock valued at $184,549,000 after purchasing an additional 478,543 shares during the period. Boston Partners raised its holdings in shares of Cimarex Energy by 28.0% in the 4th quarter. Boston Partners now owns 1,812,143 shares of the oil and gas producer’s stock valued at $221,100,000 after purchasing an additional 395,877 shares during the period. Finally, Old Mutual Global Investors UK Ltd. raised its holdings in shares of Cimarex Energy by 239,104.7% in the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 308,574 shares of the oil and gas producer’s stock valued at $37,649,000 after purchasing an additional 308,445 shares during the period. Institutional investors own 92.33% of the company’s stock.
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About Cimarex Energy
Cimarex Energy Co operates as an independent oil and gas exploration and production company primarily in Oklahoma, Texas, and New Mexico. As of December 31, 2017, it had a total proved oil and gas reserves of 3.35 trillion cubic feet equivalent (Tcfe) consisting of 1.61 trillion cubic feet of natural gas, 0.82 Tcfe of oil, and 0.92 Tcfe of natural gas liquids primarily located in the Mid-Continent and Permian Basin regions.
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