Cimarex Energy (NYSE:XEC) had its target price reduced by research analysts at Morgan Stanley from $138.00 to $135.00 in a report issued on Thursday. The brokerage presently has an “overweight” rating on the oil and gas producer’s stock. Morgan Stanley’s price target indicates a potential upside of 42.99% from the company’s current price.
Several other analysts also recently commented on XEC. Jefferies Group set a $122.00 price objective on Cimarex Energy and gave the stock a “hold” rating in a research note on Tuesday, January 30th. Stifel Nicolaus set a $188.00 price objective on Cimarex Energy and gave the stock a “buy” rating in a research note on Monday, January 29th. Deutsche Bank initiated coverage on Cimarex Energy in a research note on Thursday, February 1st. They issued a “buy” rating and a $164.00 price objective for the company. SunTrust Banks raised Cimarex Energy from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research note on Tuesday, February 6th. Finally, Robert W. Baird set a $121.00 price objective on Cimarex Energy and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $132.50.
Cimarex Energy traded down $1.23, reaching $94.41, during trading on Thursday, Marketbeat reports. 7,560 shares of the stock were exchanged, compared to its average volume of 1,295,438. Cimarex Energy has a twelve month low of $87.98 and a twelve month high of $130.16. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.40 and a current ratio of 1.49. The company has a market cap of $9.48 billion, a P/E ratio of 20.30 and a beta of 1.19.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings data on Tuesday, May 8th. The oil and gas producer reported $1.82 EPS for the quarter, topping the consensus estimate of $1.73 by $0.09. The firm had revenue of $567.10 million during the quarter, compared to the consensus estimate of $568.46 million. Cimarex Energy had a return on equity of 20.67% and a net margin of 26.97%. The company’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.05 earnings per share. equities analysts predict that Cimarex Energy will post 7.08 earnings per share for the current year.
In other Cimarex Energy news, Director Harold R. Logan, Jr. sold 1,900 shares of the stock in a transaction on Wednesday, February 28th. The stock was 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 SEC, which is accessible through this link. Also, CEO Thomas E. Jorden sold 2,500 shares of the stock in a transaction on Wednesday, April 18th. The stock was sold at an average price of $100.00, for a total value of $250,000.00. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of XEC. Assetmark Inc. raised its position in shares of Cimarex Energy by 1,015.9% in the fourth quarter. Assetmark Inc. now owns 982 shares of the oil and gas producer’s stock worth $120,000 after buying an additional 894 shares in the last quarter. Summit Trail Advisors LLC raised its position in shares of Cimarex Energy by 5,454.0% in the first quarter. Summit Trail Advisors LLC now owns 120,466 shares of the oil and gas producer’s stock worth $120,000 after buying an additional 118,297 shares in the last quarter. Dupont Capital Management Corp purchased a new stake in shares of Cimarex Energy in the first quarter worth $158,000. Rampart Investment Management Company LLC raised its position in shares of Cimarex Energy by 77.3% in the first quarter. Rampart Investment Management Company LLC now owns 2,073 shares of the oil and gas producer’s stock worth $194,000 after buying an additional 904 shares in the last quarter. Finally, LMR Partners LLP purchased a new stake in shares of Cimarex Energy in the fourth quarter worth $200,000. Hedge funds and other institutional investors own 94.63% of the company’s stock.
Cimarex Energy Company Profile
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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