Cimarex Energy (NYSE:XEC) had its price objective dropped by stock analysts at Morgan Stanley from $81.00 to $57.00 in a report issued on Wednesday, BenzingaRatingsTable reports. The brokerage currently has an “overweight” rating on the oil and gas producer’s stock. Morgan Stanley’s target price suggests a potential upside of 41.76% from the company’s current price.

Several other equities research analysts also recently weighed in on XEC. Capital One Financial raised Cimarex Energy from an “equal weight” rating to an “overweight” rating in a report on Thursday, May 23rd. SunTrust Banks set a $60.00 target price on Cimarex Energy and gave the company a “buy” rating in a research report on Wednesday, August 7th. Robert W. Baird restated an “outperform” rating and issued a $82.00 target price (down previously from $110.00) on shares of Cimarex Energy in a research report on Wednesday, June 5th. Williams Capital restated a “buy” rating and issued a $83.00 target price on shares of Cimarex Energy in a research report on Monday, July 22nd. Finally, KeyCorp began coverage on Cimarex Energy in a research report on Thursday, June 27th. They issued an “overweight” rating and a $66.00 target price on the stock. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company’s stock. Cimarex Energy has a consensus rating of “Hold” and an average price target of $80.39.

Shares of XEC traded down $2.18 during trading hours on Wednesday, hitting $40.21. The company had a trading volume of 489,395 shares, compared to its average volume of 1,532,168. The company’s fifty day moving average is $51.45. The company has a quick ratio of 0.57, a current ratio of 0.64 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $4.27 billion, a PE ratio of 5.43 and a beta of 1.30. Cimarex Energy has a 52-week low of $40.23 and a 52-week high of $101.19.

Cimarex Energy (NYSE:XEC) last posted its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.38). Cimarex Energy had a return on equity of 16.59% and a net margin of 25.66%. The company had revenue of $546.46 million during the quarter, compared to analysts’ expectations of $594.90 million. During the same period in the prior year, the firm earned $1.59 EPS. Cimarex Energy’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, sell-side analysts predict that Cimarex Energy will post 5.17 EPS for the current year.

Several hedge funds have recently bought and sold shares of XEC. Valeo Financial Advisors LLC raised its holdings in Cimarex Energy by 319.8% during the second quarter. Valeo Financial Advisors LLC now owns 487 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 371 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in Cimarex Energy during the 1st quarter valued at $31,000. Nvwm LLC raised its stake in Cimarex Energy by 462.0% during the 1st quarter. Nvwm LLC now owns 517 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 425 shares during the period. Advisory Services Network LLC raised its stake in Cimarex Energy by 1,170.2% during the 2nd quarter. Advisory Services Network LLC now owns 597 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 550 shares during the period. Finally, Bremer Bank National Association acquired a new stake in Cimarex Energy during the 1st quarter valued at $48,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Cimarex Energy Company Profile

Cimarex Energy Co operates as an independent oil and gas exploration and production company primarily in Oklahoma, Texas, and New Mexico. As of December 31, 2018, it had a total proved reserves of 591.2 million barrels of oil equivalent, consisting of 1.59 trillion cubic feet of natural gas; 146.5 million barrels (MMBbls) of oil; and 179.4 MMBbls of natural gas liquids primarily located in the Permian Basin and Mid-Continent regions.

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Analyst Recommendations for Cimarex Energy (NYSE:XEC)

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