Cimarex Energy (NYSE:XEC) has been assigned a $136.00 target price by Robert W. Baird in a report issued on Friday. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. Robert W. Baird’s price objective would indicate a potential upside of 43.23% from the stock’s previous close.
Several other equities analysts have also commented on the company. Morgan Stanley lowered their target price on Cimarex Energy from $138.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday. Williams Capital reiterated a “buy” rating and set a $132.00 price objective on shares of Cimarex Energy in a research report on Wednesday. US Capital Advisors downgraded Cimarex Energy from a “buy” rating to a “hold” rating in a research report on Thursday, May 17th. Bank of America downgraded Cimarex Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $130.13 to $129.00 in a research report on Thursday, May 10th. Finally, Stifel Nicolaus reduced their price objective on Cimarex Energy from $187.00 to $186.00 and set a “buy” rating for the company in a research report on Wednesday, May 9th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $133.18.
Cimarex Energy opened at $94.95 on Friday, Marketbeat Ratings reports. The company has a market cap of $9.13 billion, a PE ratio of 20.42 and a beta of 1.19. Cimarex Energy has a 52 week low of $87.98 and a 52 week high of $130.16. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.49 and a quick ratio of 1.40.
Cimarex Energy (NYSE:XEC) last posted its earnings results on Tuesday, May 8th. The oil and gas producer reported $1.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.09. The company had revenue of $567.10 million during the quarter, compared to analyst estimates of $568.46 million. Cimarex Energy had a return on equity of 20.67% and a net margin of 26.97%. The business’s revenue was up 26.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.05 earnings per share. equities research analysts anticipate that Cimarex Energy will post 7.07 EPS for the current year.
In other news, CEO Thomas E. Jorden sold 2,500 shares of the stock in a transaction on Wednesday, April 18th. The stock was sold at an average price of $100.00, for a total transaction of $250,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harold R. Logan, Jr. sold 1,900 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $97.82, for a total value of $185,858.00. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Norinchukin Bank The lifted its position in shares of Cimarex Energy by 7.4% during the 4th quarter. Norinchukin Bank The now owns 7,615 shares of the oil and gas producer’s stock valued at $929,000 after acquiring an additional 522 shares during the last quarter. Glen Harbor Capital Management LLC raised its stake in Cimarex Energy by 12.8% during the 1st quarter. Glen Harbor Capital Management LLC now owns 4,664 shares of the oil and gas producer’s stock valued at $436,000 after purchasing an additional 528 shares during the period. Alps Advisors Inc. raised its stake in Cimarex Energy by 11.8% during the 1st quarter. Alps Advisors Inc. now owns 5,194 shares of the oil and gas producer’s stock valued at $486,000 after purchasing an additional 550 shares during the period. State Board of Administration of Florida Retirement System raised its stake in Cimarex Energy by 0.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 125,550 shares of the oil and gas producer’s stock valued at $11,739,000 after purchasing an additional 578 shares during the period. Finally, Public Employees Retirement Association of Colorado raised its stake in Cimarex Energy by 0.4% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 147,407 shares of the oil and gas producer’s stock valued at $17,985,000 after purchasing an additional 598 shares during the period. Institutional investors own 94.63% of the company’s stock.
Cimarex Energy Company Profile
Cimarex Energy Co operates as an independent oil and gas exploration and production company primarily in Oklahoma, Texas, and New Mexico. As of December 31, 2017, it had a total proved oil and gas reserves of 3.35 trillion cubic feet equivalent (Tcfe) consisting of 1.61 trillion cubic feet of natural gas, 0.82 Tcfe of oil, and 0.92 Tcfe of natural gas liquids primarily located in the Mid-Continent and Permian Basin regions.
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