Barclays PLC Boosts Cimarex Energy Co (XEC) Price Target to $117.00
Cimarex Energy Co (NYSE:XEC) had its price target raised by Barclays PLC from $112.00 to $117.00 in a report released on Tuesday, Marketbeat.com reports. Barclays PLC currently has an overweight rating on the oil and gas producer’s stock.
Other analysts have also recently issued research reports about the stock. KLR Group reissued a buy rating and set a $151.00 price target (up previously from $149.00) on shares of Cimarex Energy in a research report on Wednesday, May 17th. Citigroup Inc. reissued a buy rating and set a $166.00 price target (up previously from $164.00) on shares of Cimarex Energy in a research report on Saturday, April 22nd. BidaskClub raised shares of Cimarex Energy from a strong sell rating to a sell rating in a research report on Monday, July 31st. Jefferies Group LLC reissued a hold rating and set a $119.00 price target on shares of Cimarex Energy in a research report on Thursday, July 6th. Finally, FBR & Co set a $141.00 price target on shares of Cimarex Energy and gave the stock a buy rating in a research report on Thursday, May 18th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company. Cimarex Energy presently has a consensus rating of Hold and a consensus price target of $138.20.
Shares of Cimarex Energy (NYSE:XEC) opened at 96.30 on Tuesday. The company has a market cap of $8.99 billion, a price-to-earnings ratio of 34.49 and a beta of 1.32. Cimarex Energy has a 12-month low of $89.49 and a 12-month high of $146.96. The stock has a 50 day moving average of $95.45 and a 200 day moving average of $111.61.
Cimarex Energy (NYSE:XEC) last announced its earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.11. The company had revenue of $456.50 million during the quarter, compared to analyst estimates of $441.52 million. Cimarex Energy had a net margin of 15.64% and a return on equity of 13.29%. Cimarex Energy’s revenue was up 52.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.07 earnings per share. Analysts forecast that Cimarex Energy will post $4.22 earnings per share for the current year.
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In other Cimarex Energy news, CEO Thomas E. Jorden sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $101.67, for a total transaction of $254,175.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP John Lambuth sold 2,136 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $99.84, for a total transaction of $213,258.24. Following the sale, the senior vice president now directly owns 106,532 shares in the company, valued at approximately $10,636,154.88. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in XEC. Turner Investments LLC bought a new stake in Cimarex Energy during the second quarter worth $100,000. Advisor Group Inc. boosted its stake 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 during the last quarter. Global X Management Co. LLC boosted its stake 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 during the last quarter. State of Alaska Department of Revenue boosted its stake 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 during the last quarter. Finally, Pacer Advisors Inc. boosted its stake 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 during the last quarter. 94.55% of the stock is currently owned by 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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