Cimarex Energy Co (XEC) PT Set at $168.00 by Stifel Nicolaus
Cimarex Energy Co (NYSE:XEC) has been given a $168.00 price target by research analysts at Stifel Nicolaus in a report released on Thursday. The firm currently has a “buy” rating on the oil and gas producer’s stock. Stifel Nicolaus’ price target points to a potential upside of 44.75% from the stock’s current price.
Several other equities research analysts have also issued reports on XEC. Scotiabank set a $143.00 price objective on Cimarex Energy and gave the company a “buy” rating in a research note on Saturday, July 1st. Williams Capital reaffirmed a “buy” rating and issued a $136.00 price objective on shares of Cimarex Energy in a research note on Wednesday, August 9th. BidaskClub lowered Cimarex Energy from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Jefferies Group LLC set a $98.00 price objective on Cimarex Energy and gave the company a “hold” rating in a research note on Tuesday, August 29th. Finally, Barclays PLC raised their price objective on Cimarex Energy from $112.00 to $117.00 and gave the company an “overweight” rating in a research note on Tuesday, August 15th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $134.14.
Shares of Cimarex Energy (NYSE:XEC) traded down 0.77% during mid-day trading on Thursday, reaching $115.17. The company’s stock had a trading volume of 126,451 shares. The company has a market cap of $10.76 billion, a PE ratio of 41.25 and a beta of 1.35. The company has a 50-day moving average price of $105.53 and a 200 day moving average price of $106.27. Cimarex Energy has a 52-week low of $89.49 and a 52-week high of $146.96.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.11. The business had revenue of $456.50 million during the quarter, compared to analyst estimates of $441.52 million. Cimarex Energy had a return on equity of 13.29% and a net margin of 15.64%. The company’s revenue for the quarter was up 52.7% on a year-over-year basis. During the same period last year, the company earned $0.07 EPS. Equities analysts expect that Cimarex Energy will post $4.18 earnings per share for the current year.
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In other Cimarex Energy news, VP Joseph R. Albi sold 2,750 shares of Cimarex Energy stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $99.02, for a total transaction of $272,305.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas E. Jorden sold 2,500 shares of Cimarex Energy stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $101.67, for a total value of $254,175.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,299 shares of company stock valued at $2,204,271. 1.70% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in XEC. Meag Munich Ergo Kapitalanlagegesellschaft purchased a new position in shares of Cimarex Energy in the 3rd quarter valued at $2,700,000. Eagle Asset Management increased its holdings in shares of Cimarex Energy by 94.7% in the 3rd quarter. Eagle Asset Management now owns 56,180 shares of the oil and gas producer’s stock valued at $5,756,000 after acquiring an additional 27,325 shares during the period. Janus Capital Management increased its holdings in shares of Cimarex Energy by 44.8% in the 3rd quarter. Janus Capital Management now owns 235,589 shares of the oil and gas producer’s stock valued at $24,143,000 after acquiring an additional 72,914 shares during the period. Cabot Wealth Management increased its holdings in shares of Cimarex Energy by 5.5% in the 4th quarter. Cabot Wealth Management now owns 35,041 shares of the oil and gas producer’s stock valued at $3,132,000 after acquiring an additional 1,825 shares during the period. Finally, Chevy Chase Trust Holdings increased its holdings in shares of Cimarex Energy by 0.8% in the 4th quarter. Chevy Chase Trust Holdings now owns 76,500 shares of the oil and gas producer’s stock valued at $6,838,000 after acquiring an additional 590 shares during the period. Institutional investors and hedge funds own 90.25% 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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