Cimarex Energy (NYSE:XEC) had its price objective dropped by stock analysts at Bank of America from $87.00 to $75.00 in a research report issued on Tuesday, BenzingaRatingsTable reports. The firm presently has a “buy” rating on the oil and gas producer’s stock. Bank of America‘s price objective would suggest a potential upside of 72.26% from the stock’s previous close.
Several other brokerages have also recently weighed in on XEC. Imperial Capital reaffirmed an “outperform” rating and set a $82.00 target price (down previously from $84.00) on shares of Cimarex Energy in a research note on Friday, May 10th. SunTrust Banks raised Cimarex Energy from a “hold” rating to a “buy” rating and raised their target price for the company from $75.00 to $85.00 in a research note on Monday, May 20th. Morgan Stanley decreased their target price on Cimarex Energy from $85.00 to $81.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Citigroup decreased their target price on Cimarex Energy from $98.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $82.00 target price (down previously from $110.00) on shares of Cimarex Energy in a research note on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the company. Cimarex Energy has an average rating of “Hold” and an average price target of $86.95.
NYSE:XEC opened at $43.54 on Tuesday. Cimarex Energy has a 1 year low of $41.09 and a 1 year high of $101.19. The company has a market capitalization of $4.31 billion, a PE ratio of 5.88 and a beta of 1.30. The stock has a fifty day simple moving average of $53.11. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.59 and a current ratio of 0.66.
Cimarex Energy (NYSE:XEC) last announced its earnings results on Monday, August 5th. The oil and gas producer reported $0.82 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by ($0.38). Cimarex Energy had a net margin of 26.90% and a return on equity of 19.95%. The firm had revenue of $546.46 million for the quarter, compared to the consensus estimate of $594.90 million. During the same period in the prior year, the business earned $1.59 EPS. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. Equities analysts expect that Cimarex Energy will post 5.24 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in XEC. Dimensional Fund Advisors LP raised its position in shares of Cimarex Energy by 53.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,259,384 shares of the oil and gas producer’s stock valued at $77,641,000 after buying an additional 439,290 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Cimarex Energy in the fourth quarter valued at about $353,000. Norges Bank acquired a new stake in shares of Cimarex Energy in the fourth quarter valued at about $52,408,000. Geode Capital Management LLC raised its position in shares of Cimarex Energy by 13.9% in the fourth quarter. Geode Capital Management LLC now owns 1,278,191 shares of the oil and gas producer’s stock valued at $78,667,000 after buying an additional 156,318 shares during the last quarter. Finally, Huntington National Bank raised its position in shares of Cimarex Energy by 571.7% in the first quarter. Huntington National Bank now owns 4,225 shares of the oil and gas producer’s stock valued at $295,000 after buying an additional 3,596 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.
About Cimarex Energy
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, 2018, it had a total proved reserves of 591.2 million barrels of oil equivalent, consisting of 1.59 trillion cubic feet of natural gas; 146.5 million barrels (MMBbls) of oil; and 179.4 MMBbls of natural gas liquids primarily located in the Permian Basin and Mid-Continent regions.
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