Cimarex Energy Co (XEC) Given a $169.00 Price Target at Stifel Nicolaus
Cimarex Energy Co (NYSE:XEC) received a $169.00 price objective from analysts at Stifel Nicolaus in a research report issued on Wednesday. The firm currently has a “buy” rating on the oil and gas producer’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 74.91% from the company’s current price.
Several other analysts also recently commented on XEC. Jefferies Group LLC reaffirmed a “hold” rating and issued a $123.00 price objective on shares of Cimarex Energy in a report on Tuesday, April 18th. Citigroup Inc. reaffirmed a “buy” rating and issued a $166.00 price objective (up from $164.00) on shares of Cimarex Energy in a report on Saturday, April 22nd. Barclays PLC reaffirmed an “overweight” rating and issued a $129.00 price objective (down from $139.00) on shares of Cimarex Energy in a report on Saturday, April 22nd. UBS AG reaffirmed a “neutral” rating and issued a $134.00 price objective (up from $131.00) on shares of Cimarex Energy in a report on Friday, May 12th. Finally, Williams Capital raised shares of Cimarex Energy from a “hold” rating to a “buy” rating and upped their price objective for the company from $148.00 to $160.00 in a report on Monday, May 15th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $138.20.
Shares of Cimarex Energy (NYSE:XEC) traded up 0.08% on Wednesday, hitting $96.70. 848,471 shares of the stock traded hands. The company has a market cap of $9.03 billion, a PE ratio of 34.63 and a beta of 1.32. The stock has a 50 day moving average of $95.25 and a 200 day moving average of $111.83. Cimarex Energy has a one year low of $89.49 and a one year high of $146.96.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $1.06 EPS for the quarter, beating the consensus estimate of $0.95 by $0.11. The business had revenue of $456.50 million for the quarter, compared to the consensus estimate of $441.52 million. Cimarex Energy had a net margin of 15.64% and a return on equity of 13.29%. The business’s revenue for the quarter was up 52.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 EPS. Equities analysts anticipate that Cimarex Energy will post $4.17 earnings per share for the current year.
In other news, VP Stephen P. Bell sold 5,000 shares of the stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $117.24, for a total value of $586,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John Lambuth sold 2,136 shares of the stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $99.84, for a total transaction of $213,258.24. Following the completion of the sale, the senior vice president now owns 106,532 shares of the company’s stock, valued at $10,636,154.88. The disclosure for this sale can be found here. Insiders sold 9,636 shares of company stock valued at $1,053,633 over the last quarter. Company insiders own 1.70% of the company’s stock.
Large investors have recently modified their holdings of the stock. Turner Investments LLC acquired a new stake in shares of Cimarex Energy during the second quarter worth approximately $100,000. NEXT Financial Group Inc boosted its stake in shares of Cimarex Energy by 120.0% in the third quarter. NEXT Financial Group Inc now owns 770 shares of the oil and gas producer’s stock worth $103,000 after buying an additional 420 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Cimarex Energy by 537.1% in the third quarter. Tower Research Capital LLC TRC now owns 790 shares of the oil and gas producer’s stock worth $106,000 after buying an additional 666 shares during the period. Advisor Group Inc. boosted its stake in shares of Cimarex Energy by 5.3% in the second quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock worth $113,000 after buying an additional 60 shares during the period. Finally, Global X Management Co. LLC boosted its stake in shares of Cimarex Energy by 14.7% in the second quarter. Global X Management Co. LLC now owns 1,265 shares of the oil and gas producer’s stock worth $119,000 after buying an additional 162 shares during the period. Institutional investors and hedge funds own 94.55% of the company’s stock.
About Cimarex Energy
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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