Cimarex Energy Co (NYSE:XEC)‘s stock had its “buy” rating reaffirmed by Williams Capital in a research report issued to clients and investors on Wednesday, August 9th. They presently have a $136.00 price target on the oil and gas producer’s stock. Williams Capital’s target price would suggest a potential upside of 38.35% from the stock’s current price.
A number of other research firms have also recently weighed in on XEC. Barclays PLC restated an “overweight” rating and set a $129.00 target price (down previously from $139.00) on shares of Cimarex Energy in a research note on Saturday, April 22nd. KLR Group restated a “buy” rating and set a $151.00 target price (up previously from $149.00) on shares of Cimarex Energy in a research note on Wednesday, May 17th. Citigroup Inc. restated a “buy” rating and set a $166.00 target price (up previously from $164.00) on shares of Cimarex Energy in a research note on Saturday, April 22nd. BidaskClub upgraded shares of Cimarex Energy from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Jefferies Group LLC restated a “hold” rating and set a $119.00 target price on shares of Cimarex Energy in a research note on Thursday, July 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $138.20.
Shares of Cimarex Energy (XEC) opened at 98.30 on Wednesday. The firm’s 50 day moving average price is $95.56 and its 200 day moving average price is $111.35. Cimarex Energy has a 52-week low of $89.49 and a 52-week high of $146.96. The stock has a market cap of $9.18 billion, a P/E ratio of 35.21 and a beta of 1.32.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.11. Cimarex Energy had a net margin of 15.64% and a return on equity of 13.29%. The firm had revenue of $456.50 million during the quarter, compared to the consensus estimate of $441.52 million. During the same quarter in the previous year, the firm posted $0.07 EPS. The company’s revenue for the quarter was up 52.7% compared to the same quarter last year. On average, analysts expect that Cimarex Energy will post $4.20 EPS for the current year.
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In other Cimarex Energy news, CEO Thomas E. Jorden sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $101.67, for a total value of $254,175.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP John Lambuth sold 2,136 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $99.84, for a total transaction of $213,258.24. Following the completion of the transaction, the senior vice president now owns 106,532 shares in the company, valued at $10,636,154.88. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. Turner Investments LLC bought a new position in shares of Cimarex Energy during the second quarter worth approximately $100,000. Advisor Group Inc. increased its position in Cimarex Energy by 5.3% in the second 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 in the last quarter. Global X Management Co. LLC increased its position in Cimarex Energy by 14.7% in the second quarter. Global X Management Co. LLC now owns 1,265 shares of the oil and gas producer’s stock worth $119,000 after buying an additional 162 shares in the last quarter. State of Alaska Department of Revenue increased its position in Cimarex Energy by 0.7% in the second quarter. State of Alaska Department of Revenue now owns 1,427 shares of the oil and gas producer’s stock worth $134,000 after buying an additional 10 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in Cimarex Energy by 8.3% in the second quarter. Pacer Advisors Inc. now owns 1,935 shares of the oil and gas producer’s stock worth $182,000 after buying an additional 148 shares in the last quarter. Institutional investors and hedge funds own 94.55% 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.
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