Cimarex Energy Co (XEC) PT Raised to $132.00
Cimarex Energy Co (NYSE:XEC) had its target price lifted by investment analysts at Barclays PLC from $117.00 to $132.00 in a research report issued on Wednesday. The firm presently has an “overweight” rating on the oil and gas producer’s stock. Barclays PLC’s price target indicates a potential upside of 14.94% from the company’s current price.
XEC has been the topic of a number of other research reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $169.00 price objective on shares of Cimarex Energy in a research note on Friday, July 14th. Citigroup Inc. reduced their target price on Cimarex Energy from $150.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, July 13th. Imperial Capital began coverage on Cimarex Energy in a research report on Tuesday, September 19th. They set an “outperform” rating and a $135.00 target price on the stock. Scotiabank set a $143.00 target price on Cimarex Energy and gave the stock a “buy” rating in a research report on Saturday, July 1st. Finally, Williams Capital reiterated a “buy” rating and set a $136.00 target price on shares of Cimarex Energy in a research report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company. Cimarex Energy has an average rating of “Buy” and an average target price of $134.86.
Cimarex Energy (NYSE:XEC) traded up 0.89% on Wednesday, hitting $115.86. The stock had a trading volume of 203,305 shares. Cimarex Energy has a one year low of $89.49 and a one year high of $146.96. The stock has a market cap of $11.04 billion, a price-to-earnings ratio of 45.08 and a beta of 1.35. The stock’s 50 day moving average is $107.07 and its 200 day moving average is $106.04.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.11. The business had revenue of $456.50 million for 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 business’s revenue for the quarter was up 52.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.07 earnings per share. Analysts anticipate that Cimarex Energy will post $4.18 earnings per share for the current year.
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In related news, VP Stephen P. Bell sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $105.00, for a total transaction of $262,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Joseph R. Albi sold 2,750 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $99.02, for a total value of $272,305.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,299 shares of company stock worth $2,204,271. Company insiders own 1.70% of the company’s stock.
Several large investors have recently made changes to their positions in XEC. Turner Investments LLC purchased a new stake in shares of Cimarex Energy during the 2nd quarter valued at about $100,000. Advisor Group Inc. raised its holdings in shares of Cimarex Energy by 5.3% during the 2nd quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock valued at $113,000 after buying an additional 60 shares during the period. Global X Management Co. LLC raised its holdings in shares of Cimarex Energy by 14.7% during the 2nd quarter. Global X Management Co. LLC now owns 1,265 shares of the oil and gas producer’s stock valued at $119,000 after buying an additional 162 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of Cimarex Energy by 0.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 1,427 shares of the oil and gas producer’s stock valued at $134,000 after buying an additional 10 shares during the period. Finally, Pacer Advisors Inc. raised its holdings in shares of Cimarex Energy by 8.3% during the 2nd quarter. Pacer Advisors Inc. now owns 1,935 shares of the oil and gas producer’s stock valued at $182,000 after buying an additional 148 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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