Research analysts at Robert W. Baird assumed coverage on shares of Cimarex Energy (NYSE:XEC) in a research note issued to investors on Tuesday, December 19th, MarketBeat.com reports. The brokerage set an “outperform” rating and a $137.00 price target on the oil and gas producer’s stock. Robert W. Baird’s target price points to a potential upside of 7.76% from the company’s previous close.
Other analysts have also recently issued research reports about the company. KeyCorp reissued a “buy” rating on shares of Cimarex Energy in a research report on Wednesday, November 8th. Williams Capital lifted their price target on Cimarex Energy from $132.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Citigroup reiterated a “buy” rating and set a $120.00 price objective on shares of Cimarex Energy in a research note on Friday, October 13th. Stifel Nicolaus set a $168.00 price objective on Cimarex Energy and gave the company a “buy” rating in a research note on Thursday, October 5th. Finally, Cowen set a $135.00 price target on Cimarex Energy and gave the company a “buy” rating in a research note on Friday, August 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $137.67.
Cimarex Energy (NYSE:XEC) traded down $0.51 on Tuesday, reaching $127.14. The company’s stock had a trading volume of 1,460,000 shares, compared to its average volume of 856,349. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.51 and a quick ratio of 1.42. The stock has a market cap of $12,110.00, a P/E ratio of 31.79 and a beta of 1.33. Cimarex Energy has a one year low of $89.49 and a one year high of $144.30.
Cimarex Energy (NYSE:XEC) last announced its earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.12. The business had revenue of $463.68 million for the quarter, compared to analysts’ expectations of $451.53 million. Cimarex Energy had a return on equity of 16.11% and a net margin of 20.45%. The business’s revenue for the quarter was up 38.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 EPS. equities analysts anticipate that Cimarex Energy will post 4.41 EPS for the current year.
In other news, CEO Thomas E. Jorden sold 2,500 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $122.88, for a total transaction of $307,200.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director L Paul Teague sold 3,248 shares of the stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $125.03, for a total value of $406,097.44. Following the completion of the transaction, the director now directly owns 41,146 shares in the company, valued at approximately $5,144,484.38. The disclosure for this sale can be found here. In the last three months, insiders sold 32,264 shares of company stock worth $3,804,134. 1.70% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Turner Investments LLC purchased a new position in Cimarex Energy in the second quarter valued at $100,000. Advisor Group Inc. increased its holdings in Cimarex Energy by 5.3% in the second quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock valued at $113,000 after buying an additional 60 shares during the last quarter. Global X Management Co. LLC increased its holdings in Cimarex Energy by 14.7% in the second quarter. Global X Management Co. LLC now owns 1,265 shares of the oil and gas producer’s stock valued at $119,000 after buying an additional 162 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Cimarex Energy by 8.3% in the second quarter. Pacer Advisors Inc. now owns 1,935 shares of the oil and gas producer’s stock valued at $182,000 after acquiring an additional 148 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Cimarex Energy in the third quarter valued at $206,000. 92.00% of the stock is currently owned by hedge funds and other institutional investors.
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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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