Cimarex Energy (XEC) Stock Rating Reaffirmed by Piper Jaffray Companies

Cimarex Energy (NYSE:XEC)‘s stock had its “hold” rating reaffirmed by stock analysts at Piper Jaffray Companies in a research note issued on Tuesday. They currently have a $138.00 price target on the oil and gas producer’s stock. Piper Jaffray Companies’ target price indicates a potential upside of 8.11% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Morgan Stanley upped their price target 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 initiated coverage on shares of Cimarex Energy in a report on Monday, December 11th. They set an “outperform” rating and a $140.00 price target for the company. Stifel Nicolaus set a $168.00 price target on shares of Cimarex Energy and gave the company a “buy” rating in a report on Thursday, October 5th. KeyCorp restated a “buy” rating and set a $130.00 price target on shares of Cimarex Energy in a report on Friday, October 20th. Finally, Barclays upped their price target on shares of Cimarex Energy from $132.00 to $141.00 and gave the company an “overweight” rating in a report on Monday, November 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $137.67.

Cimarex Energy (XEC) traded up $2.10 during trading on Tuesday, reaching $127.65. 1,088,906 shares of the company’s stock traded hands, compared to its average volume of 875,410. 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 firm has a market capitalization of $11,960.00, a P/E ratio of 31.91 and a beta of 1.33. Cimarex Energy has a 52-week low of $89.49 and a 52-week high of $144.30.

Cimarex Energy (NYSE:XEC) last posted its earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.12. Cimarex Energy had a net margin of 20.45% and a return on equity of 16.11%. The firm had revenue of $463.68 million for the quarter, compared to the consensus estimate of $451.53 million. During the same period in the prior year, the business posted $0.53 earnings per share. The business’s quarterly revenue was up 38.1% on a year-over-year basis. equities research analysts forecast that Cimarex Energy will post 4.41 EPS for the current year.

In related news, CEO Thomas E. Jorden sold 2,500 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $122.88, for a total value of $307,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lisa A. Stewart bought 248 shares of Cimarex Energy stock in a transaction that occurred on Friday, December 8th. The stock was bought at an average price of $112.06 per share, with a total value of $27,790.88. The disclosure for this purchase can be found here. In the last quarter, insiders sold 32,264 shares of company stock valued at $3,804,134. 1.70% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN lifted its stake in 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 during the period. Janus Henderson Group PLC lifted its stake in Cimarex Energy by 7,007.8% during the second quarter. Janus Henderson Group PLC now owns 834,313 shares of the oil and gas producer’s stock worth $78,434,000 after purchasing an additional 822,575 shares during the period. APG Asset Management N.V. lifted its stake in Cimarex Energy by 274.1% during the third quarter. APG Asset Management N.V. now owns 743,117 shares of the oil and gas producer’s stock worth $84,470,000 after purchasing an additional 544,465 shares during the period. Caymus Capital Partners L.P. bought a new position in Cimarex Energy during the third quarter worth about $61,666,000. Finally, Ameriprise Financial Inc. lifted its stake 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 purchasing an additional 478,543 shares during the period. Institutional investors and hedge funds own 92.00% 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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