Cimarex Energy’s (XEC) Hold Rating Reiterated at Jefferies Group LLC
Cimarex Energy Co (NYSE:XEC)‘s stock had its “hold” rating reaffirmed by equities researchers at Jefferies Group LLC in a report issued on Thursday, July 6th. They presently have a $119.00 price objective on the oil and gas producer’s stock. Jefferies Group LLC’s price target would suggest a potential upside of 28.11% from the company’s previous close.
A number of other research analysts have also weighed in on the company. UBS AG initiated coverage on Cimarex Energy in a report on Thursday, March 23rd. They issued a “neutral” rating and a $131.00 price objective on the stock. They noted that the move was a valuation call. Scotiabank set a $164.00 price objective on Cimarex Energy and gave the company a “buy” rating in a report on Monday, March 27th. Seaport Global Securities lowered Cimarex Energy from a “buy” rating to a “neutral” rating in a report on Friday, March 31st. Citigroup Inc. restated a “buy” rating and issued a $166.00 price objective (up previously from $164.00) on shares of Cimarex Energy in a report on Saturday, April 22nd. Finally, Barclays PLC reiterated an “overweight” rating and set a $129.00 price target (down previously from $139.00) on shares of Cimarex Energy in a report on Saturday, April 22nd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $138.19.
Cimarex Energy (XEC) traded up 1.23% during trading on Thursday, hitting $94.03. 963,495 shares of the stock traded hands. The stock’s market cap is $8.78 billion. Cimarex Energy has a 52-week low of $89.49 and a 52-week high of $146.96. The stock has a 50 day moving average price of $94.77 and a 200-day moving average price of $114.76.
Cimarex Energy (NYSE:XEC) last announced its earnings results on Wednesday, May 10th. The oil and gas producer reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.20. Cimarex Energy had a positive return on equity of 9.03% and a negative net margin of 7.78%. The firm had revenue of $447.20 million for the quarter, compared to analyst estimates of $423.62 million. During the same quarter last year, the firm posted ($0.40) EPS. The business’s revenue was up 85.9% on a year-over-year basis. On average, analysts anticipate that Cimarex Energy will post $4.11 EPS for the current fiscal year.
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In other news, Director L Paul Teague sold 1,038 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $120.00, for a total value of $124,560.00. Following the transaction, the director now owns 44,394 shares of the company’s stock, valued at $5,327,280. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Stephen P. Bell sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $117.24, for a total value of $586,200.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,538 shares of company stock valued at $1,001,760. 1.70% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in XEC. BlackRock Inc. raised its position in shares of Cimarex Energy by 3,127.3% in the first quarter. BlackRock Inc. now owns 7,141,421 shares of the oil and gas producer’s stock worth $853,329,000 after buying an additional 6,920,140 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Cimarex Energy by 2.7% in the first quarter. Public Employees Retirement System of Ohio now owns 51,868 shares of the oil and gas producer’s stock worth $6,198,000 after buying an additional 1,350 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Cimarex Energy during the fourth quarter worth $418,000. Hudson Bay Capital Management LP acquired a new position in shares of Cimarex Energy during the fourth quarter worth $1,699,000. Finally, Princeton Alpha Management LP acquired a new position in shares of Cimarex Energy during the first quarter worth $361,000. 92.78% of the stock is currently owned by hedge funds and other institutional investors.
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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