Morningstar Gives “BBB-” Credit Rating to Cimarex Energy (XEC)
Cimarex Energy (NYSE:XEC) has earned a “BBB-” credit rating from analysts at Morningstar. The credit rating agency’s “BBB-” rating suggests that the company is a moderate default risk. They also issued a negative credit outlook for the company and gave their stock a two star rating.
Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity raised their price target on shares of Cimarex Energy from $183.00 to $189.00 in a research note on Wednesday, August 27th. Separately, 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, August 26th. They now have a “buy” rating on the stock. Finally, 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. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $151.00.
Shares of Cimarex Energy (NYSE:XEC) opened at 138.77 on Friday. Cimarex Energy has a 52-week low of $84.76 and a 52-week high of $150.71. The stock has a 50-day moving average of $140.2 and a 200-day moving average of $128.8. The company has a market cap of $12.076 billion and a price-to-earnings ratio of 19.87.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings data 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. On average, analysts predict that Cimarex Energy will post $7.01 earnings per share for the current fiscal year.
In other Cimarex Energy news, COO Joseph R. Albi sold 5,000 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $144.00, for a total transaction of $720,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
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.
To view more credit ratings from Morningstar, visit www.morningstar.com.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.