Cimarex Energy (NYSE:XEC) had its target price dropped by stock analysts at Morgan Stanley from $168.00 to $165.00 in a research note issued on Wednesday. The brokerage presently has an “overweight” rating on the oil and gas producer’s stock. Morgan Stanley’s price objective would suggest a potential upside of 50.51% from the company’s previous close.
Several other research firms have also issued reports on XEC. Piper Jaffray Companies restated a “hold” rating and set a $138.00 price target on shares of Cimarex Energy in a report on Tuesday, January 9th. KLR Group lowered shares of Cimarex Energy from a “buy” rating to a “hold” rating and set a $138.00 price target for the company. in a report on Tuesday, January 23rd. Credit Suisse Group set a $152.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. KeyCorp restated a “buy” rating on shares of Cimarex Energy in a report on Wednesday, November 8th. Finally, Capital One Financial restated an “overweight” rating on shares of Cimarex Energy in a report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. Cimarex Energy presently has a consensus rating of “Buy” and an average price target of $141.38.
Cimarex Energy (NYSE:XEC) traded up $1.17 during trading on Wednesday, reaching $109.63. 162,969 shares of the company’s stock traded hands, compared to its average volume of 992,914. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.62. Cimarex Energy has a 52-week low of $89.49 and a 52-week high of $136.31. The company has a market cap of $10,279.60, a price-to-earnings ratio of 29.20 and a beta of 1.14.
In other news, Director L Paul Teague sold 3,248 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $125.03, for a total transaction of $406,097.44. Following the completion of the sale, the director now owns 41,146 shares of the company’s stock, valued at approximately $5,144,484.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lisa A. Stewart acquired 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, with a total value of $27,790.88. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 32,264 shares of company stock valued at $3,804,134. Insiders own 1.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in XEC. California Public Employees Retirement System grew its position in Cimarex Energy by 6.8% in the 4th quarter. California Public Employees Retirement System now owns 208,662 shares of the oil and gas producer’s stock valued at $25,459,000 after purchasing an additional 13,315 shares during the period. Teacher Retirement System of Texas acquired a new stake in Cimarex Energy in the 4th quarter valued at $3,150,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Cimarex Energy by 5.7% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 14,762 shares of the oil and gas producer’s stock valued at $1,863,000 after purchasing an additional 794 shares during the period. American Century Companies Inc. grew its position in Cimarex Energy by 226.7% in the 4th quarter. American Century Companies Inc. now owns 879,814 shares of the oil and gas producer’s stock valued at $107,346,000 after purchasing an additional 610,508 shares during the period. Finally, Meeder Asset Management Inc. grew its position in Cimarex Energy by 333.5% in the 4th quarter. Meeder Asset Management Inc. now owns 7,842 shares of the oil and gas producer’s stock valued at $956,000 after purchasing an additional 6,033 shares during the period. 92.34% of the stock is owned by institutional investors.
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.