Cimarex Energy (NYSE:XEC) was downgraded by analysts at Capital One Financial from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Wednesday.
Several other brokerages have also recently issued reports on XEC. Imperial Capital reaffirmed an “in-line” rating on shares of Cimarex Energy in a research report on Tuesday, November 20th. Morgan Stanley increased their target price on Cimarex Energy from $124.00 to $127.00 and gave the company a “buy” rating in a research report on Tuesday, November 20th. Cowen began coverage on Cimarex Energy in a research report on Thursday, November 29th. They set a “market perform” rating and a $95.00 target price on the stock. Jefferies Financial Group set a $117.00 target price on Cimarex Energy and gave the company a “buy” rating in a research report on Tuesday, November 20th. Finally, MKM Partners started coverage on Cimarex Energy in a research report on Wednesday, December 5th. They issued a “buy” rating and a $108.00 price objective for the company. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the company. Cimarex Energy has an average rating of “Hold” and an average price target of $108.42.
Shares of NYSE XEC opened at $72.08 on Wednesday. The company has a current ratio of 2.01, a quick ratio of 1.93 and a debt-to-equity ratio of 0.45. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of 9.74 and a beta of 1.34. Cimarex Energy has a 12-month low of $55.62 and a 12-month high of $103.91.
Cimarex Energy (NYSE:XEC) last announced its earnings results on Wednesday, February 20th. The oil and gas producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.23. The business had revenue of $624.10 million for the quarter, compared to analysts’ expectations of $620.20 million. Cimarex Energy had a return on equity of 23.51% and a net margin of 33.85%. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.47 EPS. As a group, equities research analysts expect that Cimarex Energy will post 5.67 EPS for the current year.
In other news, Director Harold R. Logan, Jr. sold 990 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $70.00, for a total value of $69,300.00. Following the completion of the sale, the director now owns 7,259 shares of the company’s stock, valued at approximately $508,130. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Cimarex Energy during the 4th quarter valued at about $26,000. First Bank & Trust purchased a new position in shares of Cimarex Energy during the 4th quarter valued at about $28,000. CSat Investment Advisory L.P. raised its stake in shares of Cimarex Energy by 77.7% during the 4th quarter. CSat Investment Advisory L.P. now owns 549 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 240 shares during the last quarter. Huntington National Bank raised its stake in shares of Cimarex Energy by 948.3% during the 4th quarter. Huntington National Bank now owns 629 shares of the oil and gas producer’s stock valued at $39,000 after buying an additional 569 shares during the last quarter. Finally, Bremer Trust National Association purchased a new position in shares of Cimarex Energy during the 4th quarter valued at about $43,000. Institutional investors own 99.09% 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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