Cimarex Energy (NYSE:XEC) has been assigned a $122.00 target price by equities researchers at Jefferies Group in a research report issued on Tuesday. The firm currently has a “hold” rating on the oil and gas producer’s stock. Jefferies Group’s target price points to a potential upside of 6.71% from the stock’s previous close.
A number of other brokerages have also weighed in on XEC. Stifel Nicolaus set a $168.00 target price on shares of Cimarex Energy and gave the company a “buy” rating in a research note on Thursday, October 5th. Credit Suisse Group started coverage on shares of Cimarex Energy in a research note on Monday, December 11th. They set an “outperform” rating and a $140.00 target price for the company. Morgan Stanley boosted their target price on shares of Cimarex Energy from $138.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, October 18th. UBS Group lowered shares of Cimarex Energy from a “positive” rating to a “neutral” rating in a research note on Monday, November 13th. Finally, Williams Capital boosted their target price on shares of Cimarex Energy from $132.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the stock. Cimarex Energy presently has an average rating of “Buy” and a consensus target price of $139.75.
Cimarex Energy (NYSE XEC) traded down $4.35 during mid-day trading on Tuesday, reaching $114.33. The company had a trading volume of 1,646,050 shares, compared to its average volume of 916,361. The company has a market cap of $10,890.00, a PE ratio of 28.58 and a beta of 1.33. Cimarex Energy has a fifty-two week low of $89.49 and a fifty-two week high of $138.31. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.51 and a quick ratio of 1.42.
In other Cimarex Energy news, VP Stephen P. Bell sold 3,696 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $125.11, for a total transaction of $462,406.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director L Paul Teague sold 3,248 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $125.03, for a total transaction of $406,097.44. Following the transaction, the director now directly owns 41,146 shares of the company’s stock, valued at approximately $5,144,484.38. The disclosure for this sale can be found here. Insiders have sold a total of 32,264 shares of company stock valued at $3,804,134 in the last three months. Insiders own 1.70% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in XEC. Bessemer Group Inc. lifted its holdings in shares of Cimarex Energy by 24.9% in the 4th quarter. Bessemer Group Inc. now owns 37,692 shares of the oil and gas producer’s stock valued at $4,599,000 after acquiring an additional 7,522 shares during the last quarter. LMR Partners LLP bought a new position in shares of Cimarex Energy in the 4th quarter valued at about $200,000. Capital Advisors Inc. OK bought a new position in shares of Cimarex Energy in the 4th quarter valued at about $205,000. Eagle Ridge Investment Management bought a new position in shares of Cimarex Energy in the 4th quarter valued at about $204,000. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new position in shares of Cimarex Energy in the 4th quarter valued at about $564,000. 92.31% of the stock is owned by institutional investors and hedge funds.
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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.
