Cimarex Energy (NYSE:XEC) Given New $141.00 Price Target at Barclays

Cimarex Energy (NYSE:XEC) had its price objective lifted by Barclays from $132.00 to $141.00 in a report issued on Monday, November 20th. The firm currently has an “overweight” rating on the oil and gas producer’s stock. Barclays’ target price points to a potential upside of 28.07% from the company’s current price.

Other research analysts have also issued reports about the company. Williams Capital raised their price target on Cimarex Energy from $132.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. Citigroup reaffirmed a “buy” rating and set a $120.00 target price on shares of Cimarex Energy in a report on Friday, October 13th. Stifel Nicolaus set a $168.00 target price on Cimarex Energy and gave the stock a “buy” rating in a report on Thursday, October 5th. Cowen set a $135.00 target price on Cimarex Energy and gave the stock a “buy” rating in a report on Friday, August 25th. Finally, KeyCorp reaffirmed a “buy” rating and set a $130.00 target price on shares of Cimarex Energy in a report on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $137.14.

Cimarex Energy (NYSE:XEC) traded down $2.65 during mid-day trading on Monday, reaching $110.10. The company’s stock had a trading volume of 1,077,919 shares, compared to its average volume of 1,048,440. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.51 and a quick ratio of 1.42. The company has a market capitalization of $10,745.43, a PE ratio of 29.68 and a beta of 1.34. Cimarex Energy has a 12 month low of $89.49 and a 12 month high of $146.96.

Cimarex Energy (NYSE:XEC) last posted its earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.12. The company had revenue of $463.68 million for the quarter, compared to analysts’ expectations of $451.53 million. Cimarex Energy had a return on equity of 16.11% and a net margin of 20.45%. The firm’s quarterly revenue was up 38.1% compared to the same quarter last year. During the same period last year, the business posted $0.53 earnings per share. analysts predict that Cimarex Energy will post 4.35 EPS for the current fiscal year.

In other Cimarex Energy news, VP Krista L. Johnson sold 5,341 shares of Cimarex Energy stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $116.46, for a total value of $622,012.86. Following the transaction, the vice president now directly owns 42,938 shares of the company’s stock, valued at approximately $5,000,559.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Thomas E. Jorden sold 2,500 shares of Cimarex Energy stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $125.10, for a total value of $312,750.00. The disclosure for this sale can be found here. Insiders sold a total of 27,948 shares of company stock worth $3,212,315 over the last three months. 1.70% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in XEC. Trust Co. of Vermont boosted its stake in Cimarex Energy by 6.9% in the 3rd quarter. Trust Co. of Vermont now owns 26,240 shares of the oil and gas producer’s stock valued at $2,983,000 after buying an additional 1,692 shares in the last quarter. Elliott Management Corp acquired a new stake in Cimarex Energy in the 2nd quarter valued at $288,000. South Dakota Investment Council acquired a new stake in Cimarex Energy in the 2nd quarter valued at $11,439,000. Calamos Advisors LLC boosted its stake in Cimarex Energy by 37.0% in the 2nd quarter. Calamos Advisors LLC now owns 25,006 shares of the oil and gas producer’s stock valued at $2,351,000 after buying an additional 6,757 shares in the last quarter. Finally, Advisor Partners LLC acquired a new stake in Cimarex Energy in the 3rd quarter valued at $269,000. Institutional investors and hedge funds own 92.35% of the company’s stock.

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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.

Analyst Recommendations for Cimarex Energy (NYSE:XEC)

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