Citigroup Inc. Reiterates Neutral Rating for Cimarex Energy (XEC)
Cimarex Energy (NYSE:XEC)‘s stock had its “neutral” rating reaffirmed by analysts at Citigroup Inc. in a research report issued to clients and investors on Monday. They currently have a $149.00 price target on the stock, up from their previous price target of $129.00. Citigroup Inc.’s target price suggests a potential upside of 6.75% from the stock’s previous close.
Cimarex Energy (NYSE:XEC) traded up 2.13% during mid-day trading on Monday, hitting $142.56. The stock had a trading volume of 732,546 shares. Cimarex Energy has a 52 week low of $71.78 and a 52 week high of $144.82. The stock has a 50-day moving average of $137.1 and a 200-day moving average of $118.3. The company has a market cap of $12.407 billion and a P/E ratio of 19.86. Cimarex Energy also saw a significant increase in short interest in June. As of June 30th, there was short interest totalling 2,614,976 shares, an increase of 82.8% from the June 13th total of 1,430,140 shares. Currently, 3.1% of the shares of the company are sold short. Based on an average trading volume of 2,458,198 shares, the short-interest ratio is currently 1.1 days.
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 $6.75 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on XEC. Analysts at Howard Weil raised their price target on shares of Cimarex Energy from $153.00 to $174.00 in a research note on Tuesday, July 8th. They now have a “sector outperform” rating on the stock. Separately, analysts at Wunderlich reiterated a “buy” rating on shares of Cimarex Energy in a research note on Monday, July 7th. Finally, analysts at FBR Capital Markets raised their price target on shares of Cimarex Energy from $120.00 to $135.00 in a research note on Thursday, July 3rd. They now have a “market perform” rating on the stock. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $144.62.
Cimarex Energy Co, is an oil and gas exploration and production company. The Company’s operations are focused in two main areas: the Mid-Continent region and the Permian Basin.
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