Cimarex Energy (XEC) Upgraded to Outperform by Wolfe Research

Cimarex Energy (NYSE:XEC) was upgraded by equities research analysts at Wolfe Research from a “market perform” rating to an “outperform” rating in a report released on Wednesday, The Fly reports.

Several other equities analysts also recently issued reports on the stock. Morgan Stanley set a $124.00 price objective on shares of Cimarex Energy and gave the company a “buy” rating in a research note on Friday, October 12th. ValuEngine upgraded shares of Cimarex Energy from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 9th. Piper Jaffray Companies initiated coverage on shares of Cimarex Energy in a research note on Friday, September 28th. They set a “neutral” rating for the company. SunTrust Banks downgraded shares of Cimarex Energy from a “buy” rating to a “hold” rating and set a $94.00 target price for the company. in a research note on Friday, September 7th. Finally, Williams Capital set a $129.00 target price on shares of Cimarex Energy and gave the stock a “buy” rating in a research note on Monday, August 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $130.67.

NYSE XEC traded up $0.45 during trading hours on Wednesday, hitting $93.69. The company had a trading volume of 10,581 shares, compared to its average volume of 1,394,672. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.34 and a quick ratio of 1.27. Cimarex Energy has a 1-year low of $80.53 and a 1-year high of $130.16. The company has a market capitalization of $8.86 billion, a PE ratio of 20.00 and a beta of 0.96.

Cimarex Energy (NYSE:XEC) last released its quarterly earnings data on Tuesday, August 7th. The oil and gas producer reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.05). Cimarex Energy had a net margin of 27.75% and a return on equity of 21.47%. The company had revenue of $556.27 million during the quarter, compared to analyst estimates of $557.26 million. On average, research analysts expect that Cimarex Energy will post 6.74 earnings per share for the current year.

In related news, Director Lisa A. Stewart bought 320 shares of the company’s stock in a transaction on Thursday, August 30th. The stock was bought at an average cost of $84.05 per share, with a total value of $26,896.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.70% of the company’s stock.

A number of institutional investors have recently modified their holdings of XEC. Paloma Partners Management Co grew its position in shares of Cimarex Energy by 20.4% in the second quarter. Paloma Partners Management Co now owns 71,280 shares of the oil and gas producer’s stock valued at $7,252,000 after purchasing an additional 12,079 shares during the last quarter. Swiss National Bank grew its position in shares of Cimarex Energy by 3.5% in the second quarter. Swiss National Bank now owns 315,161 shares of the oil and gas producer’s stock valued at $32,064,000 after purchasing an additional 10,600 shares during the last quarter. Investec Asset Management LTD grew its position in shares of Cimarex Energy by 173.1% in the second quarter. Investec Asset Management LTD now owns 118,291 shares of the oil and gas producer’s stock valued at $12,035,000 after purchasing an additional 74,981 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in Cimarex Energy by 41.5% during the second quarter. Canada Pension Plan Investment Board now owns 48,423 shares of the oil and gas producer’s stock worth $4,927,000 after acquiring an additional 14,213 shares during the last quarter. Finally, Advanced Asset Management Advisors Inc acquired a new stake in Cimarex Energy during the second quarter worth approximately $621,000. 94.95% of the stock is owned by institutional investors.

Cimarex Energy Company Profile

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, 2017, it had a total proved oil and gas reserves of 3.35 trillion cubic feet equivalent (Tcfe) consisting of 1.61 trillion cubic feet of natural gas, 0.82 Tcfe of oil, and 0.92 Tcfe of natural gas liquids primarily located in the Mid-Continent and Permian Basin regions.

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