Cimarex Energy (XEC) Given New $165.00 Price Target at Morgan Stanley

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.

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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.

Analyst Recommendations for Cimarex Energy (NYSE:XEC)

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