Cimarex Energy’s (XEC) Buy Rating Reaffirmed at Citigroup Inc.
Cimarex Energy Co (NYSE:XEC)‘s stock had its “buy” rating reiterated by Citigroup Inc. in a research note issued on Friday. They presently have a $120.00 price target on the oil and gas producer’s stock. Citigroup Inc.’s target price indicates a potential upside of 4.75% from the company’s current price.
Several other equities research analysts also recently issued reports on XEC. Stifel Nicolaus set a $168.00 price objective on Cimarex Energy and gave the stock a “buy” rating in a report on Thursday, October 5th. Scotiabank set a $143.00 price objective on Cimarex Energy and gave the stock a “buy” rating in a report on Saturday, July 1st. Williams Capital restated a “buy” rating and set a $136.00 price objective on shares of Cimarex Energy in a report on Wednesday, August 9th. Jefferies Group LLC set a $98.00 price objective on Cimarex Energy and gave the stock a “hold” rating in a report on Tuesday, August 29th. Finally, Barclays PLC lifted their price objective on Cimarex Energy from $117.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $134.86.
Cimarex Energy (XEC) traded up 1.13% during mid-day trading on Friday, hitting $115.86. 89,555 shares of the company were exchanged. The stock has a market cap of $10.82 billion, a price-to-earnings ratio of 41.50 and a beta of 1.35. The firm has a 50 day moving average price of $107.96 and a 200 day moving average price of $106.17. Cimarex Energy has a 12 month low of $89.49 and a 12 month 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, topping the consensus estimate of $0.95 by $0.11. Cimarex Energy had a return on equity of 13.29% and a net margin of 15.64%. The company had revenue of $456.50 million for the quarter, compared to the consensus estimate of $441.52 million. During the same period in the previous year, the business earned $0.07 EPS. Cimarex Energy’s revenue for the quarter was up 52.7% compared to the same quarter last year. Analysts anticipate that Cimarex Energy will post $4.20 EPS for the current fiscal year.
In related news, Director Harold R. Logan, Jr. sold 913 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $105.83, for a total transaction of $96,622.79. Following the completion of the transaction, the director now owns 9,299 shares in the company, valued at approximately $984,113.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joseph R. Albi sold 2,750 shares of the business’s stock in a transaction that occurred on 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. Insiders have sold a total of 21,299 shares of company stock valued at $2,204,271 in the last 90 days. Insiders own 1.70% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Turner Investments LLC acquired a new position in Cimarex Energy during the 2nd quarter worth $100,000. Advisor Group Inc. boosted its position in 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 worth $113,000 after acquiring an additional 60 shares during the period. Global X Management Co. LLC boosted its position in 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 worth $119,000 after acquiring an additional 162 shares during the period. State of Alaska Department of Revenue boosted its position in 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 worth $134,000 after acquiring an additional 10 shares during the period. Finally, Pacer Advisors Inc. boosted its position in 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 worth $182,000 after acquiring an additional 148 shares during the period. Institutional investors and hedge funds own 90.25% 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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