Cimarex Energy (NYSE:XEC) received a $88.00 price target from research analysts at JPMorgan Chase & Co. in a research note issued on Friday. The firm presently has a “hold” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.’s target price would indicate a potential upside of 11.55% from the company’s current price.
Several other equities research analysts also recently commented on XEC. Imperial Capital cut their price objective on Cimarex Energy from $156.00 to $128.00 and set an “outperform” rating for the company in a report on Thursday, August 9th. Credit Suisse Group downgraded Cimarex Energy from an “outperform” rating to a “neutral” rating in a report on Thursday, August 9th. Morgan Stanley cut their price target on Cimarex Energy from $124.00 to $123.00 and set an “overweight” rating for the company in a report on Thursday, August 16th. KLR Group reaffirmed a “buy” rating and set a $117.00 price target on shares of Cimarex Energy in a report on Monday, August 20th. Finally, Williams Capital set a $129.00 price target on Cimarex Energy and gave the company a “buy” rating in a report on Monday, August 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $123.90.
Shares of NYSE XEC traded up $3.49 during trading hours on Friday, hitting $78.89. The company had a trading volume of 34,403 shares, compared to its average volume of 1,348,090. The company has a market cap of $7.74 billion, a PE ratio of 16.84 and a beta of 1.10. The company has a current ratio of 1.69, a quick ratio of 1.62 and a debt-to-equity ratio of 0.49. Cimarex Energy has a 1-year low of $73.01 and a 1-year high of $130.16.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings data on Tuesday, November 6th. The oil and gas producer reported $1.99 EPS for the quarter, beating the consensus estimate of $1.52 by $0.47. The company had revenue of $591.50 million during the quarter, compared to the consensus estimate of $561.67 million. Cimarex Energy had a return on equity of 23.33% and a net margin of 28.70%. The firm’s revenue for the quarter was up 27.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 EPS. As a group, sell-side analysts predict that Cimarex Energy will post 7.14 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of XEC. Mount Yale Investment Advisors LLC acquired a new stake in shares of Cimarex Energy during the second quarter worth $115,000. JNBA Financial Advisors acquired a new stake in shares of Cimarex Energy during the third quarter worth $143,000. Point72 Hong Kong Ltd acquired a new stake in shares of Cimarex Energy during the second quarter worth $161,000. Eagle Boston Investment Management Inc. acquired a new stake in shares of Cimarex Energy during the second quarter worth $204,000. Finally, Glenmede Trust Co. NA lifted its holdings in shares of Cimarex Energy by 2,358.0% during the third quarter. Glenmede Trust Co. NA now owns 2,458 shares of the oil and gas producer’s stock worth $228,000 after buying an additional 2,358 shares in the last quarter. 98.53% of the stock is owned by institutional investors.
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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