Cimarex Energy (NYSE:XEC) was upgraded by equities researchers at SunTrust Banks from a “hold” rating to a “buy” rating in a research report issued on Tuesday, MarketBeat Ratings reports. The brokerage presently has a $140.00 price target on the oil and gas producer’s stock. SunTrust Banks’ price objective indicates a potential upside of 29.08% from the company’s current price.
A number of other equities research analysts also recently issued reports on the stock. 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 report on Wednesday, October 18th. Credit Suisse Group started coverage on shares of Cimarex Energy in a report on Monday, December 11th. They issued an “outperform” rating and a $140.00 target price for the company. Piper Jaffray Companies restated a “hold” rating and issued a $138.00 target price on shares of Cimarex Energy in a report on Tuesday, January 9th. Seaport Global Securities upgraded shares of Cimarex Energy from a “sell” rating to a “buy” rating in a report on Tuesday, December 19th. Finally, KeyCorp restated a “buy” rating and issued a $130.00 target price on shares of Cimarex Energy in a report on Friday, October 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $141.52.
Cimarex Energy (XEC) traded up $0.55 during trading on Tuesday, reaching $108.46. 1,220,000 shares of the company were exchanged, compared to its average volume of 976,974. Cimarex Energy has a 52-week low of $89.49 and a 52-week high of $136.31. The stock has a market capitalization of $10,330.00, a P/E ratio of 27.12 and a beta of 1.14. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.62.
Several hedge funds and other institutional investors have recently bought and sold shares of XEC. Wells Fargo & Company MN lifted its position in shares of Cimarex Energy by 172.6% during the third quarter. Wells Fargo & Company MN now owns 1,352,468 shares of the oil and gas producer’s stock worth $153,734,000 after purchasing an additional 856,274 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Cimarex Energy by 7,007.8% in the second quarter. Janus Henderson Group PLC now owns 834,313 shares of the oil and gas producer’s stock valued at $78,434,000 after acquiring an additional 822,575 shares in the last quarter. American Century Companies Inc. raised its holdings in Cimarex Energy by 226.7% in the fourth quarter. American Century Companies Inc. now owns 879,814 shares of the oil and gas producer’s stock valued at $107,346,000 after acquiring an additional 610,508 shares in the last quarter. APG Asset Management N.V. raised its holdings in Cimarex Energy by 274.1% in the third quarter. APG Asset Management N.V. now owns 743,117 shares of the oil and gas producer’s stock valued at $84,470,000 after acquiring an additional 544,465 shares in the last quarter. Finally, Caymus Capital Partners L.P. acquired a new stake in Cimarex Energy in the third quarter valued at $61,666,000. 92.34% of the stock is currently owned by institutional investors and hedge funds.
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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.
