Cimarex Energy (NYSE:XEC) had its target price dropped by BMO Capital Markets to $125.00 in a research note issued to investors on Friday, February 16th. The firm currently has an “outperform” rating on the oil and gas producer’s stock. BMO Capital Markets’ price target would suggest a potential upside of 33.63% from the company’s current price.
Several other research analysts have also issued reports on XEC. KeyCorp reiterated a “buy” rating and set a $130.00 price objective on shares of Cimarex Energy in a research note on Friday, October 20th. SunTrust Banks increased their price objective on Cimarex Energy to $127.00 and gave the stock a “hold” rating in a research note on Thursday, November 9th. Imperial Capital increased their price objective on Cimarex Energy from $135.00 to $141.00 and gave the stock an “outperform” rating in a research note on Thursday, November 9th. Capital One Financial reiterated an “overweight” rating on shares of Cimarex Energy in a research note on Wednesday, November 8th. Finally, UBS Group lowered Cimarex Energy from a “positive” rating to a “neutral” rating in a research note on Monday, November 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $138.10.
Shares of Cimarex Energy (NYSE:XEC) traded up $0.96 during midday trading on Friday, hitting $93.54. The company had a trading volume of 1,430,000 shares, compared to its average volume of 1,460,000. The company has a quick ratio of 1.30, a current ratio of 1.38 and a debt-to-equity ratio of 0.58. Cimarex Energy has a twelve month low of $89.49 and a twelve month high of $130.16. The firm has a market capitalization of $8,910.00, a price-to-earnings ratio of 20.60 and a beta of 1.24.
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, topping the consensus estimate of $1.40 by $0.07. Cimarex Energy had a return on equity of 18.73% and a net margin of 25.77%. The firm had revenue of $550.90 million during the quarter, compared to analyst estimates of $537.74 million. During the same period in the prior year, the company posted $0.60 earnings per share. The business’s revenue for the quarter was up 44.1% compared to the same quarter last year. equities analysts anticipate that Cimarex Energy will post 7.27 EPS for the current year.
In related news, Director Harold R. Logan, Jr. sold 1,900 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $97.82, for a total value of $185,858.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Thomas E. Jorden sold 5,000 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $113.14, for a total value of $565,700.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,400 shares of company stock worth $1,283,578. 1.70% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Boston Partners boosted its holdings in Cimarex Energy by 28.0% in the fourth quarter. Boston Partners now owns 1,812,143 shares of the oil and gas producer’s stock valued at $221,100,000 after acquiring an additional 395,877 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Cimarex Energy by 41.8% during the third quarter. Ameriprise Financial Inc. now owns 1,623,569 shares of the oil and gas producer’s stock worth $184,549,000 after buying an additional 478,543 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Cimarex Energy by 2.2% during the third quarter. Principal Financial Group Inc. now owns 1,579,168 shares of the oil and gas producer’s stock worth $179,504,000 after buying an additional 34,393 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Cimarex Energy by 11.4% during the fourth quarter. Wells Fargo & Company MN now owns 1,506,133 shares of the oil and gas producer’s stock worth $183,763,000 after buying an additional 153,665 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Cimarex Energy by 2.6% during the third quarter. Van ECK Associates Corp now owns 1,280,335 shares of the oil and gas producer’s stock worth $145,536,000 after buying an additional 32,188 shares during the last quarter. Institutional investors and hedge funds own 92.46% of the company’s stock.
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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.
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