Cimarex Energy Co (NYSE:XEC) had its price objective reduced by stock analysts at Citigroup Inc. from $135.00 to $120.00 in a research report issued on Friday. The firm presently has a “buy” rating on the oil and gas producer’s stock. Citigroup Inc.’s price target points to a potential upside of 26.29% from the company’s current price.

XEC has been the topic of a number of other research reports. FBR & Co set a $141.00 target price on Cimarex Energy and gave the company a “buy” rating in a report on Thursday, May 18th. Credit Suisse Group started coverage on Cimarex Energy in a research note on Thursday, June 1st. They set an “outperform” rating and a $138.00 price target on the stock. Scotiabank set a $164.00 price target on Cimarex Energy and gave the stock a “buy” rating in a research note on Monday, March 27th. Barclays PLC reissued an “overweight” rating and set a $129.00 price target (down previously from $139.00) on shares of Cimarex Energy in a research note on Saturday, April 22nd. Finally, BMO Capital Markets set a $150.00 price target on Cimarex Energy and gave the stock a “buy” rating in a research note on Monday, May 15th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $138.19.

Shares of Cimarex Energy (XEC) traded down 0.66% during trading on Friday, reaching $95.02. The company had a trading volume of 831,686 shares. The firm’s 50 day moving average price is $95.84 and its 200 day moving average price is $117.41. Cimarex Energy has a 12 month low of $89.49 and a 12 month high of $146.96. The firm’s market capitalization is $8.87 billion.

Cimarex Energy (NYSE:XEC) last announced its earnings results on Wednesday, May 10th. The oil and gas producer reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.20. The firm had revenue of $447.20 million for the quarter, compared to analysts’ expectations of $423.62 million. Cimarex Energy had a positive return on equity of 9.03% and a negative net margin of 7.78%. Cimarex Energy’s quarterly revenue was up 85.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.40) EPS. Equities analysts predict that Cimarex Energy will post $4.31 EPS for the current year.

TRADEMARK VIOLATION WARNING: “Cimarex Energy Co (XEC) PT Lowered to $120.00 at Citigroup Inc.” was posted by American Banking News and is the property of of American Banking News. If you are viewing this article on another website, it was stolen and republished in violation of US & international copyright and trademark laws. The original version of this article can be read at https://www.americanbankingnews.com/2017/07/21/cimarex-energy-co-xec-pt-lowered-to-120-00-at-citigroup-inc.html.

In other Cimarex Energy news, Director L Paul Teague sold 1,038 shares of Cimarex Energy stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $120.00, for a total value of $124,560.00. Following the transaction, the director now owns 44,394 shares in the company, valued at $5,327,280. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Stephen P. Bell sold 5,000 shares of Cimarex Energy stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $117.24, for a total transaction of $586,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,538 shares of company stock worth $1,001,760. 1.70% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Meag Munich Ergo Kapitalanlagegesellschaft purchased a new position in Cimarex Energy during the third quarter valued at $2,700,000. American Century Companies Inc. boosted its position in Cimarex Energy by 2.3% in the fourth quarter. American Century Companies Inc. now owns 1,320,355 shares of the oil and gas producer’s stock valued at $118,013,000 after buying an additional 30,161 shares during the last quarter. AGF Investments Inc. boosted its position in Cimarex Energy by 13.5% in the fourth quarter. AGF Investments Inc. now owns 37,361 shares of the oil and gas producer’s stock valued at $3,340,000 after buying an additional 4,449 shares during the last quarter. Chevy Chase Trust Holdings boosted its position in Cimarex Energy by 0.8% in the fourth quarter. Chevy Chase Trust Holdings now owns 76,500 shares of the oil and gas producer’s stock valued at $6,838,000 after buying an additional 590 shares during the last quarter. Finally, Fourth Swedish National Pension Fund boosted its position in Cimarex Energy by 17.3% in the fourth quarter. Fourth Swedish National Pension Fund now owns 21,618 shares of the oil and gas producer’s stock valued at $1,932,000 after buying an additional 3,190 shares during the last quarter. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Cimarex Energy Company Profile

Cimarex Energy Co is an independent oil and gas exploration and production company. The Company operates in exploration and production (E&P) segment. Its operations are located in Oklahoma, Texas and New Mexico. Its E&P activities take place primarily in two areas: the Permian Basin and the Mid-Continent region.

Analyst Recommendations for Cimarex Energy (NYSE:XEC)

Receive News & Ratings for Cimarex Energy Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cimarex Energy Co and related companies with MarketBeat.com's FREE daily email newsletter.