Imperial Capital Reaffirms “In-Line” Rating for Cimarex Energy (XEC)
Cimarex Energy (NYSE:XEC)‘s stock had its “in-line” rating restated by Imperial Capital in a report released on Tuesday.
A number of other equities research analysts have also recently issued reports on the stock. Williams Capital set a $129.00 target price on shares of Cimarex Energy and gave the company a “buy” rating in a report on Monday. ValuEngine cut shares of Cimarex Energy from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 23rd. Wolfe Research raised shares of Cimarex Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, October 17th. Morgan Stanley set a $124.00 target price on shares of Cimarex Energy and gave the company a “buy” rating in a report on Friday, October 12th. Finally, Piper Jaffray Companies assumed coverage on shares of Cimarex Energy in a report on Friday, September 28th. They set a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $130.25.
Shares of XEC stock opened at $83.86 on Tuesday. The company has a current ratio of 1.69, a quick ratio of 1.62 and a debt-to-equity ratio of 0.49. Cimarex Energy has a 1 year low of $77.63 and a 1 year high of $130.16. The firm has a market cap of $8.42 billion, a price-to-earnings ratio of 18.03 and a beta of 1.04.
In other news, Director Lisa A. Stewart purchased 320 shares of the firm’s stock in a transaction dated Thursday, August 30th. The shares were purchased at an average price of $84.05 per share, with a total value of $26,896.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.70% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley boosted its position in Cimarex Energy by 26.2% during the third quarter. Morgan Stanley now owns 326,513 shares of the oil and gas producer’s stock valued at $30,347,000 after buying an additional 67,809 shares during the period. Legal & General Group Plc boosted its position in Cimarex Energy by 2.6% during the third quarter. Legal & General Group Plc now owns 427,288 shares of the oil and gas producer’s stock valued at $39,719,000 after buying an additional 11,003 shares during the period. Standard Life Aberdeen plc boosted its position in Cimarex Energy by 12.5% during the third quarter. Standard Life Aberdeen plc now owns 25,094 shares of the oil and gas producer’s stock valued at $2,332,000 after buying an additional 2,794 shares during the period. Nordea Investment Management AB boosted its position in Cimarex Energy by 5.0% during the third quarter. Nordea Investment Management AB now owns 180,097 shares of the oil and gas producer’s stock valued at $16,738,000 after buying an additional 8,633 shares during the period. Finally, Cohen & Steers Inc. boosted its position in Cimarex Energy by 79.3% during the third quarter. Cohen & Steers Inc. now owns 362,999 shares of the oil and gas producer’s stock valued at $33,737,000 after buying an additional 160,520 shares during the period. 98.47% of the stock is currently owned by hedge funds and other institutional investors.
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, 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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