Cimarex Energy (NYSE:XEC) had its price objective dropped by equities research analysts at BMO Capital Markets to $125.00 in a report released on Friday. The firm presently has an “outperform” rating on the oil and gas producer’s stock. BMO Capital Markets’ target price would suggest a potential upside of 26.61% from the company’s current price.
Several other brokerages have also recently issued reports on XEC. Credit Suisse Group started coverage on Cimarex Energy in a research note on Monday, December 11th. They issued an “outperform” rating and a $140.00 price objective for the company. Morgan Stanley decreased their price objective on Cimarex Energy from $168.00 to $165.00 and set an “overweight” rating for the company in a research note on Wednesday, February 7th. Jefferies Group set a $117.00 price objective on Cimarex Energy and gave the company a “hold” rating in a research note on Wednesday, December 20th. UBS Group cut Cimarex Energy from a “positive” rating to a “neutral” rating in a research note on Monday, November 13th. Finally, Robert W. Baird set a $121.00 price objective on Cimarex Energy and gave the company a “buy” rating in a research note on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $139.52.
Cimarex Energy (NYSE XEC) opened at $98.73 on Friday. Cimarex Energy has a twelve month low of $89.49 and a twelve month high of $134.09. The company has a market capitalization of $9,410.00, a PE ratio of 19.02 and a beta of 1.14. The company has a current ratio of 1.38, a quick ratio of 1.42 and a debt-to-equity ratio of 0.58.
In other Cimarex Energy news, COO Joseph R. Albi sold 1,000 shares of Cimarex Energy stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $113.75, for a total transaction of $113,750.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Thomas E. Jorden sold 2,500 shares of Cimarex Energy stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $122.88, for a total value of $307,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,479 shares of company stock valued at $2,000,868. 1.70% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisor Group Inc. increased its position in Cimarex Energy by 5.3% during the second quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock worth $113,000 after buying an additional 60 shares during the period. Assetmark Inc. increased its position in Cimarex Energy by 1,015.9% during the fourth quarter. Assetmark Inc. now owns 982 shares of the oil and gas producer’s stock worth $120,000 after buying an additional 894 shares during the period. LMR Partners LLP acquired a new position in Cimarex Energy during the fourth quarter worth approximately $200,000. Eagle Ridge Investment Management acquired a new position in Cimarex Energy during the fourth quarter worth approximately $204,000. Finally, Capital Advisors Inc. OK acquired a new position in Cimarex Energy during the fourth quarter worth approximately $205,000. 93.28% of the stock is currently owned by institutional investors.
Cimarex Energy Company Profile
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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