Cimarex Energy (XEC) Now Covered by Analysts at Credit Suisse Group
Credit Suisse Group began coverage on shares of Cimarex Energy (NYSE:XEC) in a note issued to investors on Monday. The brokerage set an “outperform” rating and a $140.00 price target on the oil and gas producer’s stock. Credit Suisse Group’s price target would suggest a potential upside of 24.20% from the stock’s previous close.
Other equities research analysts have also recently issued research reports about the company. Barclays 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. BidaskClub cut Cimarex Energy from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Piper Jaffray Companies reduced their price objective on Cimarex Energy from $141.00 to $116.00 and set a “neutral” rating for the company in a research note on Monday, September 18th. Jefferies Group 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, Stifel Nicolaus set a $169.00 price objective on Cimarex Energy and gave the company a “buy” rating in a research note on Wednesday, August 16th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $136.60.
Shares of Cimarex Energy (NYSE:XEC) traded up $0.82 during mid-day trading on Monday, reaching $112.72. The company’s stock had a trading volume of 769,800 shares, compared to its average volume of 1,044,494. The company has a market capitalization of $10,740.00, a P/E ratio of 29.45 and a beta of 1.34. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.42 and a current ratio of 1.51. Cimarex Energy has a 1-year low of $89.49 and a 1-year high of $146.96.
In other Cimarex Energy news, VP Joseph R. Albi sold 4,000 shares of the business’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $106.13, for a total value of $424,520.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Thomas E. Jorden sold 2,500 shares of the business’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $125.10, for a total value of $312,750.00. The disclosure for this sale can be found here. In the last three months, insiders sold 27,948 shares of company stock worth $3,212,315. Insiders own 1.70% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Optimum Investment Advisors purchased a new position in Cimarex Energy in the third quarter worth $281,000. Belpointe Asset Management LLC purchased a new position in Cimarex Energy in the third quarter worth $311,000. IFM Investors Pty Ltd purchased a new position in Cimarex Energy in the third quarter worth $330,000. Sterling Capital Management LLC boosted its position in Cimarex Energy by 48.0% in the third quarter. Sterling Capital Management LLC now owns 3,700 shares of the oil and gas producer’s stock worth $421,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Colony Group LLC boosted its position in Cimarex Energy by 38.7% in the third quarter. Colony Group LLC now owns 22,154 shares of the oil and gas producer’s stock worth $2,518,000 after purchasing an additional 6,177 shares during the last quarter. 92.35% of the stock is currently owned by institutional investors and hedge funds.
TRADEMARK VIOLATION WARNING: “Cimarex Energy (XEC) Now Covered by Analysts at Credit Suisse Group” was posted by American Banking News and is the property of of American Banking News. If you are reading this story on another domain, it was illegally stolen and republished in violation of US & international copyright & trademark laws. The legal version of this story can be read at https://www.americanbankingnews.com/2017/12/12/credit-suisse-group-begins-coverage-on-cimarex-energy-xec.html.
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.
Receive News & Ratings for Cimarex Energy Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cimarex Energy Co and related companies with MarketBeat.com's FREE daily email newsletter.