Cimarex Energy Co (XEC) PT Lowered to $120.00 at Citigroup Inc.
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.
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.
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