Cimarex Energy Co (NYSE:XEC) has been given a consensus rating of “Hold” by the twenty ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $68.87.
Several research firms have weighed in on XEC. Bank of America dropped their price objective on Cimarex Energy from $87.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Citigroup dropped their price objective on Cimarex Energy from $85.00 to $75.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Wells Fargo & Co raised their target price on Cimarex Energy from $64.00 to $65.00 and gave the company a “market perform” rating in a research note on Friday, September 20th. Piper Jaffray Companies set a $68.00 target price on Cimarex Energy and gave the company a “hold” rating in a research note on Friday, August 16th. Finally, SunTrust Banks set a $60.00 target price on Cimarex Energy and gave the company a “buy” rating in a research note on Wednesday, August 7th.
A number of hedge funds have recently bought and sold shares of the stock. Squarepoint Ops LLC bought a new stake in shares of Cimarex Energy in the 3rd quarter worth $1,798,000. Voloridge Investment Management LLC bought a new stake in shares of Cimarex Energy in the 3rd quarter worth $596,000. Public Employees Retirement System of Ohio increased its holdings in shares of Cimarex Energy by 1.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 34,423 shares of the oil and gas producer’s stock worth $1,650,000 after purchasing an additional 430 shares in the last quarter. Parametric Portfolio Associates LLC increased its holdings in shares of Cimarex Energy by 99.5% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 529,348 shares of the oil and gas producer’s stock worth $25,377,000 after purchasing an additional 264,027 shares in the last quarter. Finally, California State Teachers Retirement System grew its holdings in shares of Cimarex Energy by 0.3% in the third quarter. California State Teachers Retirement System now owns 159,433 shares of the oil and gas producer’s stock worth $7,643,000 after acquiring an additional 431 shares during the period. 96.70% of the stock is owned by institutional investors.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.02). Cimarex Energy had a return on equity of 13.02% and a net margin of 21.13%. The business had revenue of $582.31 million during the quarter, compared to analysts’ expectations of $575.31 million. During the same quarter last year, the business posted $1.99 EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, research analysts forecast that Cimarex Energy will post 4.11 EPS for the current fiscal year.
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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