Cimarex Energy Co. (NYSE:XEC) Receives $76.00 Average Price Target from Analysts

Shares of Cimarex Energy Co. (NYSE:XEC) have earned a consensus recommendation of “Buy” from the twenty-three ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $78.35.

Several research firms have recently commented on XEC. Piper Sandler cut Cimarex Energy from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $88.00 to $67.00 in a report on Tuesday, May 25th. UBS Group cut Cimarex Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $91.00 to $83.00 in a report on Tuesday, June 15th. Truist Financial raised Cimarex Energy to a “buy” rating and set a $80.00 price target for the company in a report on Wednesday, July 21st. Raymond James cut Cimarex Energy from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 26th. Finally, Citigroup boosted their price target on Cimarex Energy from $84.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, July 23rd.

Shares of XEC stock traded down $1.32 during midday trading on Tuesday, hitting $74.58. The company had a trading volume of 1,145,852 shares, compared to its average volume of 1,199,652. The company’s 50 day simple moving average is $66.33 and its 200 day simple moving average is $66.38. Cimarex Energy has a 52-week low of $22.39 and a 52-week high of $77.30. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of -219.35, a PEG ratio of 0.49 and a beta of 2.60. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.23 and a quick ratio of 1.20.

Cimarex Energy (NYSE:XEC) last announced its earnings results on Thursday, August 5th. The oil and gas producer reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.22. The company had revenue of $712.38 million for the quarter, compared to the consensus estimate of $616.83 million. Cimarex Energy had a positive return on equity of 34.56% and a negative net margin of 1.19%. The company’s revenue was up 185.7% on a year-over-year basis. During the same period last year, the business posted ($0.51) EPS. Analysts anticipate that Cimarex Energy will post 8.88 EPS for the current year.

In related news, EVP John Lambuth sold 10,000 shares of the business’s stock in a transaction dated Friday, August 27th. The stock was sold at an average price of $63.75, for a total value of $637,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in XEC. Squarepoint Ops LLC grew its holdings in shares of Cimarex Energy by 34.7% during the first quarter. Squarepoint Ops LLC now owns 20,740 shares of the oil and gas producer’s stock valued at $1,232,000 after purchasing an additional 5,344 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Cimarex Energy by 14.8% during the first quarter. BlackRock Inc. now owns 9,956,077 shares of the oil and gas producer’s stock valued at $591,293,000 after purchasing an additional 1,283,492 shares during the last quarter. Guggenheim Capital LLC grew its holdings in shares of Cimarex Energy by 32.4% during the first quarter. Guggenheim Capital LLC now owns 8,935 shares of the oil and gas producer’s stock valued at $531,000 after purchasing an additional 2,189 shares during the last quarter. EAM Investors LLC bought a new position in shares of Cimarex Energy during the first quarter valued at approximately $2,140,000. Finally, Nomura Holdings Inc. bought a new position in shares of Cimarex Energy during the first quarter valued at approximately $2,314,000. Hedge funds and other institutional investors own 91.52% of the company’s stock.

About Cimarex Energy

Cimarex Energy Co is an independent oil and gas exploration and production company. Its activities include drilling, completing and operating wells. It operates through the following areas: Permian Basin, Mid-Continent, and Others in Oklahoma, Texas and New Mexico. The company was founded by F. H. Merelli in February 2002 and is headquartered in Denver, CO.

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Analyst Recommendations for Cimarex Energy (NYSE:XEC)

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