Deutsche Bank initiated coverage on shares of Cimarex Energy (NYSE:XEC) in a report released on Thursday, The Fly reports. The firm set a “buy” rating on the oil and gas producer’s stock.
XEC has been the subject of a number of other reports. Piper Jaffray Companies reiterated a “hold” rating and issued a $138.00 price target on shares of Cimarex Energy in a report on Tuesday, January 9th. KLR Group downgraded 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 Cimarex Energy and gave the company a “buy” rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. KeyCorp reiterated a “buy” rating on shares of Cimarex Energy in a report on Wednesday, November 8th. Finally, Susquehanna Bancshares downgraded Cimarex Energy from a “positive” rating to a “neutral” rating in a report on Monday, November 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $139.75.
Shares of Cimarex Energy (NYSE:XEC) traded up $1.21 on Thursday, hitting $113.41. The company’s stock had a trading volume of 1,076,052 shares, compared to its average volume of 956,027. Cimarex Energy has a one year low of $89.49 and a one year high of $136.31. The firm has a market cap of $10,800.00, a price-to-earnings ratio of 28.35 and a beta of 1.33. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.42 and a current ratio of 1.51.
In related news, CEO Thomas E. Jorden sold 2,500 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $125.10, for a total transaction of $312,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Stephen P. Bell sold 3,696 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $125.11, for a total value of $462,406.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,264 shares of company stock valued at $3,804,134. 1.70% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Advisor Group Inc. grew its stake in Cimarex Energy by 5.3% during the 2nd quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock worth $113,000 after buying an additional 60 shares during the last quarter. LMR Partners LLP bought a new position in Cimarex Energy during the 4th quarter worth $200,000. Eagle Ridge Investment Management acquired a new position in Cimarex Energy during the 4th quarter worth $204,000. Capital Advisors Inc. OK acquired a new position in Cimarex Energy during the 4th quarter worth $205,000. Finally, Meeder Asset Management Inc. acquired a new position in Cimarex Energy during the 3rd quarter worth $206,000. Hedge funds and other institutional investors own 92.31% of the company’s stock.
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.
