Cimarex Energy (NYSE:XEC) received a $165.00 price target from investment analysts at Cowen in a research note issued on Thursday. The brokerage presently has a “buy” rating on the oil and gas producer’s stock. Cowen’s price target would indicate a potential upside of 32.38% from the company’s current price.
Several other research analysts also recently issued reports on the stock. Morgan Stanley upped their price target on shares of Cimarex Energy from $138.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th. Credit Suisse Group initiated coverage on shares of Cimarex Energy in a research report on Monday, December 11th. They set an “outperform” rating and a $140.00 price target on the stock. Piper Jaffray Companies reiterated a “hold” rating and set a $118.00 price target on shares of Cimarex Energy in a research report on Friday, November 24th. Seaport Global Securities upgraded shares of Cimarex Energy from a “sell” rating to a “buy” rating in a research report on Tuesday, December 19th. Finally, Stifel Nicolaus set a $168.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $138.05.
Cimarex Energy (NYSE XEC) traded down $1.81 on Thursday, hitting $124.64. 984,700 shares of the stock traded hands, compared to its average volume of 942,742. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.62. Cimarex Energy has a fifty-two week low of $89.49 and a fifty-two week high of $142.88. The company has a market cap of $11,870.00, a price-to-earnings ratio of 31.16 and a beta of 1.33.
In related news, SVP Francis Brian Barron sold 3,000 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $112.59, for a total transaction of $337,770.00. Following the completion of the sale, the senior vice president now directly owns 87,723 shares of the company’s stock, valued at approximately $9,876,732.57. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Krista L. Johnson sold 5,341 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $116.46, for a total value of $622,012.86. Following the sale, the vice president now directly owns 42,938 shares of the company’s stock, valued at $5,000,559.48. The disclosure for this sale can be found here. Insiders sold a total of 32,264 shares of company stock worth $3,804,134 over the last quarter. 1.70% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Trust Co. of Vermont increased its stake in Cimarex Energy by 6.9% during the 3rd quarter. Trust Co. of Vermont now owns 26,240 shares of the oil and gas producer’s stock worth $2,983,000 after purchasing an additional 1,692 shares in the last quarter. Elliott Management Corp bought a new stake in Cimarex Energy during the 2nd quarter worth approximately $288,000. IFM Investors Pty Ltd bought a new stake in Cimarex Energy during the 3rd quarter worth approximately $330,000. Commerce Bank increased its stake in Cimarex Energy by 28.7% during the 3rd quarter. Commerce Bank now owns 4,482 shares of the oil and gas producer’s stock worth $510,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Colony Group LLC increased its stake in Cimarex Energy by 38.7% during the 3rd quarter. Colony Group LLC now owns 22,154 shares of the oil and gas producer’s stock worth $2,518,000 after purchasing an additional 6,177 shares in the last quarter. 92.20% of the stock is owned by institutional investors and hedge funds.
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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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