Robert W. Baird initiated coverage on shares of Cimarex Energy (NYSE:XEC) in a research note issued on Tuesday. The firm set an “outperform” rating and a $137.00 price target on the oil and gas producer’s stock. Robert W. Baird’s price objective would suggest a potential upside of 20.53% from the stock’s previous close.
Several other research analysts also recently weighed in on the stock. Morgan Stanley upped their target price on shares of Cimarex Energy from $138.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. Stifel Nicolaus set a $168.00 target price on shares of Cimarex Energy and gave the stock a “buy” rating in a report on Thursday, October 5th. KeyCorp reaffirmed a “buy” rating and issued a $130.00 target price on shares of Cimarex Energy in a report on Friday, October 20th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $118.00 target price on shares of Cimarex Energy in a report on Friday, November 24th. Finally, Scotiabank set a $143.00 price objective on shares of Cimarex Energy and gave the company a “buy” rating in a report on Saturday, November 25th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $136.62.
Cimarex Energy (NYSE:XEC) opened at $113.66 on Tuesday. The firm has a market cap of $10,750.00, a price-to-earnings ratio of 29.56 and a beta of 1.34. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 0.62. Cimarex Energy has a 1-year low of $89.49 and a 1-year high of $144.30.
In other news, VP Joseph R. Albi sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $112.41, for a total transaction of $224,820.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lisa A. Stewart bought 248 shares of Cimarex Energy stock in a transaction dated Friday, December 8th. The shares were bought at an average cost of $112.06 per share, for a total transaction of $27,790.88. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 29,764 shares of company stock worth $3,496,934. Corporate insiders own 1.70% of the company’s stock.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Cimarex Energy by 0.7% during the second quarter. Vanguard Group Inc. now owns 9,899,309 shares of the oil and gas producer’s stock valued at $930,634,000 after purchasing an additional 64,420 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Cimarex Energy by 5.2% during the second quarter. BlackRock Inc. now owns 7,512,811 shares of the oil and gas producer’s stock valued at $706,278,000 after purchasing an additional 371,390 shares in the last quarter. State Street Corp boosted its stake in shares of Cimarex Energy by 3.0% during the second quarter. State Street Corp now owns 5,458,745 shares of the oil and gas producer’s stock valued at $513,162,000 after purchasing an additional 157,612 shares in the last quarter. Capital World Investors boosted its stake in shares of Cimarex Energy by 20.7% during the fourth quarter. Capital World Investors now owns 4,458,000 shares of the oil and gas producer’s stock valued at $398,456,000 after purchasing an additional 765,000 shares in the last quarter. Finally, FMR LLC boosted its stake in Cimarex Energy by 1.4% in the second quarter. FMR LLC now owns 4,224,735 shares of the oil and gas producer’s stock valued at $397,166,000 after acquiring an additional 59,537 shares in the last quarter. 92.35% of the stock is currently owned by institutional investors and hedge funds.
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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.
