Cimarex Energy (NYSE:XEC) had its target price reduced by equities research analysts at Morgan Stanley from $123.00 to $118.00 in a note issued to investors on Wednesday, Marketbeat reports. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. Morgan Stanley’s price objective would indicate a potential upside of 25.57% from the stock’s previous close.

XEC has been the subject of a number of other reports. Credit Suisse Group lowered Cimarex Energy from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 9th. Piper Jaffray Companies reiterated a “hold” rating and issued a $147.00 price objective on shares of Cimarex Energy in a research report on Friday, July 20th. Imperial Capital lowered their price objective on Cimarex Energy from $156.00 to $128.00 and set an “outperform” rating for the company in a research report on Thursday, August 9th. Bank of America upgraded Cimarex Energy from a “neutral” rating to a “buy” rating in a research report on Thursday, June 21st. Finally, Stifel Nicolaus set a $178.00 price objective on Cimarex Energy and gave the stock a “buy” rating in a research report on Thursday, July 19th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $130.38.

XEC stock opened at $93.97 on Wednesday. The company has a quick ratio of 1.27, a current ratio of 1.34 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $9.01 billion, a PE ratio of 20.05 and a beta of 1.04. Cimarex Energy has a 1 year low of $80.53 and a 1 year high of $130.16.

Cimarex Energy (NYSE:XEC) last posted its quarterly earnings results on Tuesday, August 7th. The oil and gas producer reported $1.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.05). The company had revenue of $556.27 million during the quarter, compared to analysts’ expectations of $557.26 million. Cimarex Energy had a net margin of 27.75% and a return on equity of 21.47%. equities research analysts predict that Cimarex Energy will post 6.73 EPS for the current fiscal year.

In other news, Director Lisa A. Stewart purchased 320 shares of the firm’s stock in a transaction on Thursday, August 30th. The shares were bought at an average cost of $84.05 per share, for a total transaction of $26,896.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Glen Harbor Capital Management LLC lifted its stake in Cimarex Energy by 12.8% during the first quarter. Glen Harbor Capital Management LLC now owns 4,664 shares of the oil and gas producer’s stock worth $436,000 after purchasing an additional 528 shares in the last quarter. Investec Asset Management LTD raised its stake in shares of Cimarex Energy by 173.1% in the second quarter. Investec Asset Management LTD now owns 118,291 shares of the oil and gas producer’s stock valued at $12,035,000 after acquiring an additional 74,981 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Cimarex Energy by 41.5% in the second quarter. Canada Pension Plan Investment Board now owns 48,423 shares of the oil and gas producer’s stock valued at $4,927,000 after acquiring an additional 14,213 shares in the last quarter. Swiss National Bank raised its stake in shares of Cimarex Energy by 3.5% in the second quarter. Swiss National Bank now owns 315,161 shares of the oil and gas producer’s stock valued at $32,064,000 after acquiring an additional 10,600 shares in the last quarter. Finally, GSA Capital Partners LLP raised its stake in shares of Cimarex Energy by 37.1% in the first quarter. GSA Capital Partners LLP now owns 30,818 shares of the oil and gas producer’s stock valued at $2,881,000 after acquiring an additional 8,337 shares in the last quarter. Institutional investors own 94.96% 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, 2017, it had a total proved oil and gas reserves of 3.35 trillion cubic feet equivalent (Tcfe) consisting of 1.61 trillion cubic feet of natural gas, 0.82 Tcfe of oil, and 0.92 Tcfe of natural gas liquids primarily located in the Mid-Continent and Permian Basin regions.

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Analyst Recommendations for Cimarex Energy (NYSE:XEC)

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