Cimarex Energy Price Target Raised to $189.00 (XEC)
Equities research analysts at Canaccord Genuity increased their price target on shares of Cimarex Energy (NYSE:XEC) from $183.00 to $189.00 in a research note issued to investors on Wednesday. Canaccord Genuity’s price objective points to a potential upside of 33.62% from the company’s current price.
Shares of Cimarex Energy (NYSE:XEC) traded up 0.05% during mid-day trading on Wednesday, hitting $141.45. 695,857 shares of the company’s stock traded hands. Cimarex Energy has a 52-week low of $82.86 and a 52-week high of $150.71. The stock’s 50-day moving average is $140.2 and its 200-day moving average is $127.4. The company has a market cap of $12.309 billion and a price-to-earnings ratio of 19.54.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $1.71 earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted $1.37 earnings per share. Cimarex Energy’s revenue was up 28.9% compared to the same quarter last year. Analysts expect that Cimarex Energy will post $7.01 EPS for the current fiscal year.
In other Cimarex Energy news, CFO Paul Korus sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The stock was 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 can be accessed through this link.
A number of other analysts have also recently weighed in on XEC. Analysts at Topeka Capital Markets raised their price target on shares of Cimarex Energy from $150.00 to $153.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Separately, 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. Finally, 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. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $151.00.
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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