Stifel Nicolaus Reiterates $168.00 Price Target for Cimarex Energy Co (XEC)
Cimarex Energy Co (NYSE:XEC) has been given a $168.00 price objective by stock analysts at Stifel Nicolaus in a research report issued on Thursday. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 44.75% from the company’s current price.
A number of other research firms also recently issued reports on XEC. Barclays PLC increased their price objective on Cimarex Energy from $112.00 to $117.00 and gave the stock an “overweight” rating in a report on Tuesday, August 15th. BidaskClub upgraded Cimarex Energy from a “strong sell” rating to a “sell” rating in a report on Thursday, August 24th. Jefferies Group LLC reiterated a “hold” rating and issued a $119.00 price objective on shares of Cimarex Energy in a report on Thursday, July 6th. Cowen and Company set a $135.00 price objective on Cimarex Energy and gave the stock a “buy” rating in a report on Friday, August 25th. Finally, Morgan Stanley increased their price objective on Cimarex Energy from $135.00 to $138.00 and gave the stock an “overweight” rating in a report on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Cimarex Energy currently has an average rating of “Buy” and an average target price of $134.14.
Shares of Cimarex Energy (NYSE:XEC) traded down 0.77% during mid-day trading on Thursday, reaching $115.17. 126,451 shares of the company’s stock were exchanged. Cimarex Energy has a one year low of $89.49 and a one year high of $146.96. The stock has a 50-day moving average of $105.53 and a 200 day moving average of $106.27. The firm has a market capitalization of $10.76 billion, a P/E ratio of 41.25 and a beta of 1.35.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.11. The business had revenue of $456.50 million during the quarter, compared to the consensus estimate of $441.52 million. Cimarex Energy had a return on equity of 13.29% and a net margin of 15.64%. The firm’s quarterly revenue was up 52.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.07 earnings per share. On average, analysts forecast that Cimarex Energy will post $4.18 EPS for the current fiscal year.
In other news, SVP John Lambuth sold 2,136 shares of Cimarex Energy stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $99.84, for a total transaction of $213,258.24. Following the transaction, the senior vice president now directly owns 106,532 shares of the company’s stock, valued at approximately $10,636,154.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Joseph R. Albi sold 2,750 shares of Cimarex Energy stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $99.02, for a total value of $272,305.00. The disclosure for this sale can be found here. Insiders sold 21,299 shares of company stock worth $2,204,271 over the last three months. Insiders own 1.70% of the company’s stock.
Several hedge funds have recently bought and sold shares of XEC. UBS Asset Management Americas Inc. lifted its position in shares of Cimarex Energy by 7.3% during the 1st quarter. UBS Asset Management Americas Inc. now owns 244,361 shares of the oil and gas producer’s stock valued at $29,199,000 after buying an additional 16,527 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Cimarex Energy by 3.2% during the 1st quarter. Pacer Advisors Inc. now owns 1,787 shares of the oil and gas producer’s stock valued at $214,000 after buying an additional 55 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Cimarex Energy by 13.3% during the 1st quarter. Stifel Financial Corp now owns 11,418 shares of the oil and gas producer’s stock valued at $1,366,000 after buying an additional 1,337 shares in the last quarter. Credit Agricole S A lifted its position in shares of Cimarex Energy by 16.8% during the 1st quarter. Credit Agricole S A now owns 29,065 shares of the oil and gas producer’s stock valued at $3,473,000 after buying an additional 4,173 shares in the last quarter. Finally, Laurion Capital Management LP purchased a new position in shares of Cimarex Energy during the 1st quarter valued at about $299,000. 90.25% of the stock is currently owned by hedge funds and other institutional investors.
Cimarex Energy Company Profile
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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