Cimarex Energy (NYSE:XEC) PT Raised to $55.00 at Barclays


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Cimarex Energy (NYSE:XEC) had its target price raised by Barclays from $48.00 to $55.00 in a report issued on Thursday, The Fly reports. The brokerage currently has an “overweight” rating on the oil and gas producer’s stock. Barclays‘s price objective would indicate a potential upside of 11.02% from the stock’s current price.

XEC has been the subject of a number of other reports. KeyCorp upped their price target on shares of Cimarex Energy from $46.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday. Morgan Stanley upped their price target on shares of Cimarex Energy from $37.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 17th. Bank of America upgraded shares of Cimarex Energy from a “neutral” rating to a “buy” rating and set a $38.00 price target for the company in a research report on Monday, September 28th. The Goldman Sachs Group upgraded shares of Cimarex Energy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $46.00 to $48.00 in a research report on Tuesday, December 15th. Finally, Raymond James upgraded shares of Cimarex Energy from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a research report on Wednesday, October 21st. Three analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $40.57.

Shares of XEC traded up $2.05 during mid-day trading on Thursday, reaching $49.54. The stock had a trading volume of 77,936 shares, compared to its average volume of 1,372,593. The firm has a market cap of $5.05 billion, a price-to-earnings ratio of -2.37, a PEG ratio of 8.75 and a beta of 2.40. Cimarex Energy has a 12 month low of $12.15 and a 12 month high of $53.40. The business has a fifty day moving average of $39.25 and a 200 day moving average of $30.03. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.74 and a current ratio of 0.84.

Cimarex Energy (NYSE:XEC) last posted its quarterly earnings results on Monday, November 9th. The oil and gas producer reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.30. The business had revenue of $401.70 million during the quarter, compared to analyst estimates of $390.33 million. Cimarex Energy had a negative net margin of 104.14% and a positive return on equity of 7.29%. The company’s revenue was down 31.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.91 earnings per share. On average, research analysts forecast that Cimarex Energy will post 0.58 EPS for the current fiscal year.

In other news, COO Joseph R. Albi sold 10,000 shares of the stock in a transaction on Monday, November 9th. The shares were sold at an average price of $30.55, for a total value of $305,500.00. The sale was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders sold 28,000 shares of company stock worth $1,001,920. Insiders own 2.00% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Cimarex Energy by 302.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,698 shares of the oil and gas producer’s stock worth $1,039,000 after buying an additional 32,090 shares during the period. Weld Capital Management LLC purchased a new position in Cimarex Energy in the 3rd quarter worth about $230,000. Sei Investments Co. increased its stake in Cimarex Energy by 436.2% in the 2nd quarter. Sei Investments Co. now owns 53,726 shares of the oil and gas producer’s stock worth $1,469,000 after buying an additional 43,706 shares during the period. ArrowMark Colorado Holdings LLC purchased a new position in Cimarex Energy in the 3rd quarter worth about $2,287,000. Finally, California State Teachers Retirement System increased its stake in Cimarex Energy by 1.9% in the 2nd quarter. California State Teachers Retirement System now owns 169,812 shares of the oil and gas producer’s stock worth $4,668,000 after buying an additional 3,225 shares during the period. 91.50% of the stock is currently owned by institutional investors.

Cimarex Energy Company Profile

Cimarex Energy Co operates as an independent oil and gas exploration and production company primarily in Texas, Oklahoma, and New Mexico. As of December 31, 2019, it had a total proved reserves of 619.6 million barrels of oil equivalent, consisting of 1.53 trillion cubic feet of natural gas; 169.8 million barrels (MMBbls) of oil; and 194.5 MMBbls of natural gas liquids primarily located in the Permian Basin and Mid-Continent regions.

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Analyst Recommendations for Cimarex Energy (NYSE:XEC)

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