Cimarex Energy Shares Gap Up Following Analyst Upgrade (XEC)
Cimarex Energy (NYSE:XEC) gapped up before the market opened on Tuesday after Topeka Capital Markets raised their price target on the stock from $150.00 to $153.00, Analyst Ratings News reports. The stock had previously closed at $139.01, but opened at $139.14. Topeka Capital Markets currently has a buy rating on the stock. Cimarex Energy shares last traded at $142.38, with a volume of 587,994 shares.
XEC has been the subject of a number of other recent research reports. Analysts at Barclays raised their price target on shares of Cimarex Energy from $170.00 to $172.00 in a research note on Friday, August 8th. Separately, analysts at KLR Group upgraded shares of Cimarex Energy from a “hold” rating to an “accumulate” rating in a research note on Friday, August 8th. They now have a $156.00 price target on the stock, up previously from $4.00. Finally, analysts at Howard Weil raised their price target on shares of Cimarex Energy from $182.00 to $211.00 in a research note on Thursday, August 7th. They now have a “sector outperform” rating on the stock. Nine analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $150.05.
In other Cimarex Energy news, CFO Paul Korus sold 5,000 shares of the stock on the open market in a transaction dated Monday, August 25th. The shares were sold at an average price of $139.02, for a total value of $695,100.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
The stock’s 50-day moving average is $140.1 and its 200-day moving average is $127.1. The company has a market cap of $12.360 billion and a P/E ratio of 19.23.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $1.71 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.71. The company had revenue of $636.67 million for the quarter, compared to the consensus estimate of $645.80 million. During the same quarter in the previous year, the company posted $1.37 earnings per share. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. On average, analysts predict that Cimarex Energy will post $7.02 earnings per share for the current fiscal year.
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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