Cimarex Energy (NYSE:XEC)‘s stock had its “buy” rating reaffirmed by Williams Capital in a research note issued on Tuesday, AnalystRatings.com reports. They currently have a $64.00 target price on the oil and gas producer’s stock. Williams Capital’s price objective points to a potential upside of 37.52% from the company’s previous close.
A number of other analysts also recently commented on XEC. Morgan Stanley reduced their price objective on Cimarex Energy from $81.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th. KeyCorp lowered their price target on shares of Cimarex Energy from $60.00 to $54.00 and set an “overweight” rating for the company in a research note on Tuesday, October 15th. BMO Capital Markets downgraded shares of Cimarex Energy from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $82.00 to $67.00 in a research note on Thursday, July 11th. MKM Partners lowered their price target on shares of Cimarex Energy from $70.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, SunTrust Banks set a $60.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the stock. Cimarex Energy currently has a consensus rating of “Hold” and an average price target of $73.94.
NYSE:XEC traded up $0.61 during mid-day trading on Tuesday, hitting $46.54. 13,580 shares of the company’s stock traded hands, compared to its average volume of 1,889,223. The firm has a 50 day moving average of $45.77 and a two-hundred day moving average of $52.35. Cimarex Energy has a 12 month low of $37.19 and a 12 month high of $95.62. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of 6.31 and a beta of 1.32. The company has a current ratio of 0.64, a quick ratio of 0.57 and a debt-to-equity ratio of 0.56.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.91 EPS for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.02). Cimarex Energy had a return on equity of 13.23% and a net margin of 21.13%. The firm had revenue of $582.31 million during the quarter, compared to the consensus estimate of $575.31 million. During the same quarter in the prior year, the business posted $1.99 EPS. Cimarex Energy’s revenue was down 1.6% compared to the same quarter last year. As a group, equities research analysts expect that Cimarex Energy will post 4.13 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in XEC. First Citizens Bank & Trust Co. increased its position in Cimarex Energy by 2.3% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 9,633 shares of the oil and gas producer’s stock worth $572,000 after purchasing an additional 217 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Cimarex Energy by 2.6% during the second quarter. CIBC Asset Management Inc now owns 11,011 shares of the oil and gas producer’s stock worth $653,000 after purchasing an additional 275 shares during the last quarter. New Mexico Educational Retirement Board lifted its stake in Cimarex Energy by 3.8% during the second quarter. New Mexico Educational Retirement Board now owns 8,300 shares of the oil and gas producer’s stock worth $492,000 after purchasing an additional 300 shares during the last quarter. Sippican Capital Advisors lifted its stake in shares of Cimarex Energy by 2.8% in the 2nd quarter. Sippican Capital Advisors now owns 12,186 shares of the oil and gas producer’s stock valued at $723,000 after acquiring an additional 330 shares during the last quarter. Finally, DNB Asset Management AS lifted its stake in shares of Cimarex Energy by 3.4% in the 3rd quarter. DNB Asset Management AS now owns 11,005 shares of the oil and gas producer’s stock valued at $528,000 after acquiring an additional 360 shares during the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.
About Cimarex Energy
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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