Cimarex Energy (NYSE:XEC) received a $100.00 price target from stock analysts at Morgan Stanley in a research note issued to investors on Thursday, TipRanks reports. The firm currently has a “buy” rating on the oil and gas producer’s stock. Morgan Stanley’s price target suggests a potential upside of 45.88% from the company’s current price.
A number of other research analysts have also recently commented on XEC. Barclays started coverage on shares of Cimarex Energy in a research report on Wednesday, January 16th. They set an “equal weight” rating and a $81.00 price target on the stock. Williams Capital set a $104.00 price target on shares of Cimarex Energy and gave the company a “buy” rating in a research report on Tuesday, January 22nd. Mizuho started coverage on shares of Cimarex Energy in a research report on Tuesday, January 29th. They set a “neutral” rating and a $80.00 price target on the stock. Ifs Securities reiterated a “market perform” rating on shares of Cimarex Energy in a research report on Sunday, February 3rd. Finally, Susquehanna Bancshares upgraded shares of Cimarex Energy from a “neutral” rating to a “positive” rating and increased their price target for the company from $74.00 to $88.00 in a research report on Friday, February 8th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $106.41.
Shares of XEC stock traded down $0.70 during trading on Thursday, hitting $68.55. The company had a trading volume of 1,157,698 shares, compared to its average volume of 1,423,047. The company has a current ratio of 0.66, a quick ratio of 0.59 and a debt-to-equity ratio of 0.58. The stock has a market cap of $6.90 billion, a price-to-earnings ratio of 9.26 and a beta of 1.31. Cimarex Energy has a 52 week low of $55.62 and a 52 week high of $103.91.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings data on Wednesday, May 8th. The oil and gas producer reported $1.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by ($0.17). The company had revenue of $577.00 million during the quarter, compared to the consensus estimate of $581.51 million. Cimarex Energy had a return on equity of 19.95% and a net margin of 26.90%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the company posted $1.82 earnings per share. As a group, sell-side analysts forecast that Cimarex Energy will post 6.75 EPS for the current fiscal year.
In other news, Director Harold R. Logan, Jr. sold 990 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $70.00, for a total value of $69,300.00. Following the transaction, the director now owns 7,259 shares in the company, valued at $508,130. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of the company. Sippican Capital Advisors grew its holdings in shares of Cimarex Energy by 1.4% in the first quarter. Sippican Capital Advisors now owns 11,856 shares of the oil and gas producer’s stock worth $829,000 after purchasing an additional 162 shares during the last quarter. World Asset Management Inc grew its holdings in shares of Cimarex Energy by 3.2% in the first quarter. World Asset Management Inc now owns 5,457 shares of the oil and gas producer’s stock worth $381,000 after purchasing an additional 171 shares during the last quarter. Eaton Vance Management lifted its stake in Cimarex Energy by 1.3% in the fourth quarter. Eaton Vance Management now owns 14,216 shares of the oil and gas producer’s stock worth $876,000 after acquiring an additional 188 shares during the period. CSat Investment Advisory L.P. lifted its stake in Cimarex Energy by 77.7% in the fourth quarter. CSat Investment Advisory L.P. now owns 549 shares of the oil and gas producer’s stock worth $34,000 after acquiring an additional 240 shares during the period. Finally, LS Investment Advisors LLC lifted its stake in Cimarex Energy by 4.8% in the fourth quarter. LS Investment Advisors LLC now owns 6,305 shares of the oil and gas producer’s stock worth $389,000 after acquiring an additional 286 shares during the period. Hedge funds and other institutional investors own 95.93% of the company’s stock.
About Cimarex Energy
Cimarex Energy Co operates as an independent oil and gas exploration and production company primarily in Oklahoma, Texas, and New Mexico. As of December 31, 2018, it had a total proved reserves of 591.2 million barrels of oil equivalent, consisting of 1.59 trillion cubic feet of natural gas; 146.5 million barrels (MMBbls) of oil; and 179.4 MMBbls of natural gas liquids primarily located in the Permian Basin and Mid-Continent regions.
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