Societe Generale Downgrades Cimarex Energy to Hold (XEC)
Cimarex Energy (NYSE:XEC) was downgraded by investment analysts at Societe Generale from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. They currently have a $126.00 price objective on the stock, up from their previous price objective of $112.00. Societe Generale’s price objective indicates a potential downside of 1.82% from the stock’s previous close.
XEC has been the subject of a number of other recent research reports. Analysts at KLR Group downgraded shares of Cimarex Energy from an “accumulate” rating to a “hold” rating in a research note on Monday, April 21st. Separately, analysts at KeyCorp reiterated a “buy” rating on shares of Cimarex Energy in a research note on Thursday, April 17th. They now have a $145.00 price target on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Cimarex Energy from $130.00 to $132.00 in a research note on Tuesday, April 1st. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $126.83.
Cimarex Energy (NYSE:XEC) opened at 128.33 on Tuesday. Cimarex Energy has a 52 week low of $62.98 and a 52 week high of $139.90. The stock has a 50-day moving average of $119.0 and a 200-day moving average of $107.. The company has a market cap of $11.169 billion and a P/E ratio of 18.11.
Cimarex Energy (NYSE:XEC) last announced its earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.52 by $0.15. The company had revenue of $599.20 million for the quarter, compared to the consensus estimate of $542.04 million. During the same quarter in the prior year, the company posted $1.06 earnings per share. The company’s quarterly revenue was up 40.5% on a year-over-year basis. On average, analysts predict that Cimarex Energy will post $6.61 earnings per share 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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