Cimarex Energy (XEC) PT Lowered to $147.00 at Credit Suisse Group

Cimarex Energy (NYSE:XEC) had its target price reduced by research analysts at Credit Suisse Group from $152.00 to $147.00 in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The brokerage presently has an “outperform” rating on the oil and gas producer’s stock. Credit Suisse Group’s target price suggests a potential upside of 48.89% from the company’s previous close.

XEC has been the topic of several other reports. KeyCorp reaffirmed a “buy” rating on shares of Cimarex Energy in a research report on Wednesday, November 8th. Morgan Stanley increased their price target on Cimarex Energy from $138.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, October 18th. Cowen set a $165.00 price target on Cimarex Energy and gave the company a “buy” rating in a report on Thursday, January 18th. Williams Capital increased their price target on Cimarex Energy from $132.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. Finally, KLR Group cut Cimarex Energy from a “buy” rating to a “hold” rating and set a $138.00 price target on the stock. in a report on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the stock. Cimarex Energy presently has a consensus rating of “Buy” and an average price target of $139.52.

Cimarex Energy (NYSE:XEC) traded down $0.03 during mid-day trading on Thursday, reaching $98.73. The company had a trading volume of 2,013,144 shares, compared to its average volume of 1,216,465. The company has a market cap of $9,734.71, a PE ratio of 19.02 and a beta of 1.14. Cimarex Energy has a fifty-two week low of $89.49 and a fifty-two week high of $134.09. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.51 and a quick ratio of 1.42.

Cimarex Energy (NYSE:XEC) last released its quarterly earnings data on Wednesday, February 14th. The oil and gas producer reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.07. The business had revenue of $550.90 million for the quarter, compared to analysts’ expectations of $537.74 million. Cimarex Energy had a return on equity of 19.26% and a net margin of 25.77%. The firm’s quarterly revenue was up 44.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 EPS. analysts predict that Cimarex Energy will post 7.31 EPS for the current year.

In related news, CEO Thomas E. Jorden sold 2,500 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $122.88, for a total value of $307,200.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lisa A. Stewart bought 248 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was 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 sold 17,479 shares of company stock worth $2,000,868. 1.70% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. raised its holdings in Cimarex Energy by 5.3% in the 2nd quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock worth $113,000 after purchasing an additional 60 shares during the period. Assetmark Inc. increased its stake in Cimarex Energy by 1,015.9% in the 4th quarter. Assetmark Inc. now owns 982 shares of the oil and gas producer’s stock worth $120,000 after buying an additional 894 shares in the last quarter. LMR Partners LLP purchased a new stake in Cimarex Energy in the 4th quarter worth $200,000. Eagle Ridge Investment Management purchased a new stake in Cimarex Energy in the 4th quarter worth $204,000. Finally, Capital Advisors Inc. OK purchased a new stake in Cimarex Energy in the 4th quarter worth $205,000. 93.28% of the stock is currently 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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