Barclays PLC Increases Cimarex Energy Co (XEC) Price Target to $117.00
Cimarex Energy Co (NYSE:XEC) had its price objective increased by research analysts at Barclays PLC from $112.00 to $117.00 in a research note issued to investors on Tuesday. The brokerage presently has an “overweight” rating on the oil and gas producer’s stock. Barclays PLC’s target price suggests a potential upside of 21.58% from the stock’s current price.
XEC has been the topic of a number of other research reports. Stifel Nicolaus reissued a “buy” rating and issued a $169.00 price objective on shares of Cimarex Energy in a research note on Friday, July 14th. UBS AG reissued a “neutral” rating and issued a $134.00 price objective (up previously from $131.00) on shares of Cimarex Energy in a research note on Friday, May 12th. Jefferies Group LLC set a $119.00 price objective on Cimarex Energy and gave the stock a “hold” rating in a research note on Wednesday, May 17th. Piper Jaffray Companies reissued a “neutral” rating and issued a $161.00 price objective on shares of Cimarex Energy in a research note on Wednesday, June 7th. Finally, Citigroup Inc. reduced their price objective on Cimarex Energy from $150.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $138.20.
Cimarex Energy (XEC) traded down 0.85% during midday trading on Tuesday, reaching $95.41. The company’s stock had a trading volume of 270,449 shares. Cimarex Energy has a 1-year low of $89.49 and a 1-year high of $146.96. The firm has a market capitalization of $8.91 billion, a PE ratio of 34.17 and a beta of 1.32. The firm has a 50 day moving average price of $95.15 and a 200 day moving average price of $112.14.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.11. Cimarex Energy had a return on equity of 13.29% and a net margin of 15.64%. The firm had revenue of $456.50 million for the quarter, compared to analysts’ expectations of $441.52 million. During the same period in the prior year, the business posted $0.07 earnings per share. The business’s revenue was up 52.7% compared to the same quarter last year. On average, analysts predict that Cimarex Energy will post $4.12 EPS for the current year.
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In other Cimarex Energy news, VP Stephen P. Bell sold 5,000 shares of the stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $117.24, for a total value of $586,200.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Thomas E. Jorden sold 2,500 shares of the stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $101.67, for a total value of $254,175.00. The disclosure for this sale can be found here. Insiders sold 12,136 shares of company stock worth $1,344,633 in the last three months. Insiders own 1.70% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in XEC. Creative Planning raised its position in Cimarex Energy by 165.7% in the first quarter. Creative Planning now owns 6,013 shares of the oil and gas producer’s stock valued at $718,000 after buying an additional 3,750 shares during the last quarter. Gulf International Bank UK Ltd raised its position in Cimarex Energy by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 29,196 shares of the oil and gas producer’s stock valued at $3,488,000 after buying an additional 340 shares during the last quarter. National Pension Service raised its position in Cimarex Energy by 0.7% in the first quarter. National Pension Service now owns 93,894 shares of the oil and gas producer’s stock valued at $11,369,000 after buying an additional 698 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Cimarex Energy during the first quarter valued at $1,981,000. Finally, Howland Capital Management LLC raised its position in Cimarex Energy by 33.9% in the first quarter. Howland Capital Management LLC now owns 120,527 shares of the oil and gas producer’s stock valued at $14,402,000 after buying an additional 30,497 shares during the last quarter. 94.55% of the stock is currently owned by hedge funds and other 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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