Cimarex Energy Co. Sets New 1-Year High at $90.54 (XEC)
Cimarex Energy (NYSE:XEC) set a new 52-week high during mid-day trading on Wednesday, AnalystRatingsNetwork reports. The stock traded as high as $90.54 and last traded at $90.51, with a volume of 821,233 shares. The stock had previously closed at $88.84.
XEC has been the subject of a number of recent research reports. Analysts at Canaccord Genuity initiated coverage on shares of Cimarex Energy (NYSE:XEC) in a research note to investors on Tuesday. They set a “buy” rating and a $99.00 price target on the stock. Separately, analysts at Raymond James upgraded shares of Cimarex Energy (NYSE:XEC) from a “market perform” rating to an “outperform” rating in a research note to investors on Monday. Finally, analysts at Morgan Stanley upgraded shares of Cimarex Energy (NYSE:XEC) from an “equal weight” rating to an “overweight” rating in a research note to investors on Monday. They now have a $105.00 price target on the stock, up previously from $79.00.
Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Cimarex Energy has a consensus rating of “Buy” and a consensus price target of $88.87.
In other Cimarex Energy news, VP Gary R. Abbott sold 4,900 shares of the stock on the open market in a transaction dated Monday, September 9th. The stock was sold at an average price of $88.00, for a total transaction of $431,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Cimarex Energy has a 52 week low of $55.74 and a 52 week high of $90.54. The stock’s 50-day moving average is $81.01 and its 200-day moving average is $73.71. The company has a market cap of $7.829 billion and a P/E ratio of 19.15.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $1.37 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.25 by $0.12. The company had revenue of $493.76 million for the quarter, compared to the consensus estimate of $467.55 million. During the same quarter last year, the company posted $0.79 earnings per share. Cimarex Energy’s revenue was up 39.8% compared to the same quarter last year. Analysts expect that Cimarex Energy will post $5.28 EPS for the current fiscal year.
Cimarex Energy Co is an oil and gas exploration and production company. Its operations are focused in two main areas: the Mid-Continent region and the Permian Basin.
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