Cimarex Energy (NYSE:XEC) PT Raised to $45.00

Cimarex Energy (NYSE:XEC) had its price target raised by equities research analysts at UBS Group from $30.00 to $45.00 in a research note issued to investors on Monday, BenzingaRatingsTable reports. The firm currently has a “buy” rating on the oil and gas producer’s stock. UBS Group’s target price would suggest a potential upside of 66.30% from the stock’s current price.

A number of other brokerages have also recently issued reports on XEC. Morgan Stanley lifted their price objective on shares of Cimarex Energy from $26.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. SunTrust Banks reduced their price objective on shares of Cimarex Energy from $25.00 to $22.00 in a report on Wednesday, April 15th. Bank of America upgraded shares of Cimarex Energy from an “underperform” rating to a “neutral” rating and set a $33.00 price objective for the company in a report on Monday, June 22nd. KeyCorp lifted their price objective on shares of Cimarex Energy from $38.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. Finally, Piper Sandler cut their price target on shares of Cimarex Energy from $62.00 to $17.00 in a report on Wednesday, March 25th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $41.48.

XEC opened at $27.06 on Monday. Cimarex Energy has a 1-year low of $12.15 and a 1-year high of $61.16. The company has a current ratio of 1.08, a quick ratio of 1.01 and a debt-to-equity ratio of 0.78. The company has a market cap of $2.73 billion, a P/E ratio of -2.66 and a beta of 2.30. The company has a fifty day moving average price of $27.82 and a two-hundred day moving average price of $32.89.

Cimarex Energy (NYSE:XEC) last posted its quarterly earnings results on Wednesday, May 6th. The oil and gas producer reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.17. Cimarex Energy had a negative net margin of 44.65% and a positive return on equity of 10.09%. The firm had revenue of $472.83 million during the quarter, compared to the consensus estimate of $504.50 million. During the same period in the previous year, the firm posted $1.20 earnings per share. The business’s revenue was down 18.0% compared to the same quarter last year. On average, research analysts forecast that Cimarex Energy will post -0.3 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its holdings in Cimarex Energy by 66.6% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,751 shares of the oil and gas producer’s stock worth $29,000 after acquiring an additional 700 shares during the period. Sowell Financial Services LLC increased its holdings in Cimarex Energy by 24.9% during the 1st quarter. Sowell Financial Services LLC now owns 2,140 shares of the oil and gas producer’s stock worth $36,000 after acquiring an additional 426 shares during the period. Accurate Investment Solutions Inc. increased its holdings in Cimarex Energy by 64.6% during the 1st quarter. Accurate Investment Solutions Inc. now owns 3,260 shares of the oil and gas producer’s stock worth $55,000 after acquiring an additional 1,280 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Cimarex Energy by 120.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,682 shares of the oil and gas producer’s stock worth $62,000 after acquiring an additional 2,008 shares during the period. Finally, Aigen Investment Management LP bought a new stake in Cimarex Energy during the 1st quarter worth approximately $77,000. 95.58% of the stock is currently owned by institutional investors.

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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