Cimarex Energy (NYSE:XEC) has been given a $117.00 price objective by investment analysts at Jefferies Group in a report issued on Wednesday. The brokerage presently has a “hold” rating on the oil and gas producer’s stock. Jefferies Group’s price objective suggests a potential downside of 2.46% from the stock’s previous close. Jefferies Group also issued estimates for Cimarex Energy’s FY2017 earnings at $4.67 EPS, Q1 2019 earnings at $2.11 EPS, Q2 2019 earnings at $2.11 EPS and Q3 2019 earnings at $2.21 EPS.
A number of other brokerages have also recently weighed in on XEC. Stifel Nicolaus set a $168.00 price objective on shares of Cimarex Energy and gave the company a “buy” rating in a report on Thursday, October 5th. BidaskClub upgraded shares of Cimarex Energy from a “strong sell” rating to a “sell” rating in a report on Thursday, August 24th. Credit Suisse Group assumed coverage on shares of Cimarex Energy in a report on Monday, December 11th. They set an “outperform” rating and a $140.00 price target for the company. Morgan Stanley boosted their price target 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. Finally, UBS Group cut shares of Cimarex Energy from a “positive” rating to a “neutral” rating in a report on Monday, November 13th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the stock. Cimarex Energy currently has an average rating of “Buy” and a consensus price target of $136.71.
Shares of Cimarex Energy (NYSE XEC) traded up $1.17 during mid-day trading on Wednesday, hitting $119.95. 776,958 shares of the company were exchanged, compared to its average volume of 882,623. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $11,315.09, a PE ratio of 31.90 and a beta of 1.34. Cimarex Energy has a 52-week low of $89.49 and a 52-week high of $144.30.
In other Cimarex Energy news, Director Lisa A. Stewart purchased 248 shares of Cimarex Energy stock in a transaction that occurred on Friday, December 8th. The stock was purchased at an average price of $112.06 per share, for a total transaction of $27,790.88. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Thomas E. Jorden sold 2,500 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $125.10, for a total transaction of $312,750.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,764 shares of company stock valued at $3,496,934. 1.70% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Atlantic Trust Group LLC purchased a new position in Cimarex Energy during the 3rd quarter worth $6,645,000. Parametric Portfolio Associates LLC raised its position in Cimarex Energy by 37.9% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 258,902 shares of the oil and gas producer’s stock worth $29,429,000 after buying an additional 71,140 shares during the last quarter. Optimum Investment Advisors purchased a new position in Cimarex Energy during the 3rd quarter worth $281,000. Belpointe Asset Management LLC purchased a new position in Cimarex Energy during the 3rd quarter worth $311,000. Finally, IFM Investors Pty Ltd purchased a new position in Cimarex Energy during the 3rd quarter worth $330,000. Hedge funds and other institutional investors own 92.03% 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.
