Cimarex Energy (NYSE:XEC) had its price objective cut by Citigroup from $90.00 to $85.00 in a research report report published on Thursday morning, BenzingaRatingsTable reports. They currently have a buy rating on the oil and gas producer’s stock.
XEC has been the topic of a number of other reports. Bank of America lowered their price target on Cimarex Energy from $87.00 to $75.00 and set a buy rating on the stock in a report on Tuesday, August 6th. Imperial Capital lowered their price target on Cimarex Energy from $58.00 to $51.00 and set an in-line rating on the stock in a report on Wednesday, August 7th. BMO Capital Markets downgraded Cimarex Energy from an outperform rating to a market perform rating and lowered their price target for the company from $82.00 to $67.00 in a report on Thursday, July 11th. Robert W. Baird reaffirmed an outperform rating and set a $82.00 price target (down from $110.00) on shares of Cimarex Energy in a report on Wednesday, June 5th. Finally, MKM Partners lowered their price target on Cimarex Energy from $70.00 to $64.00 and set a buy rating on the stock in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $80.11.
Cimarex Energy stock opened at $41.05 on Thursday. The company has a current ratio of 0.64, a quick ratio of 0.57 and a debt-to-equity ratio of 0.56. The business’s fifty day simple moving average is $50.40 and its two-hundred day simple moving average is $63.09. Cimarex Energy has a 12 month low of $37.89 and a 12 month high of $101.19. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 5.55 and a beta of 1.30.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.38). The business had revenue of $546.46 million for the quarter, compared to the consensus estimate of $594.90 million. Cimarex Energy had a net margin of 25.66% and a return on equity of 16.59%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.59 earnings per share. On average, equities research analysts predict that Cimarex Energy will post 5.13 EPS for the current year.
A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Cimarex Energy by 3.8% during the second quarter. Vanguard Group Inc. now owns 11,027,065 shares of the oil and gas producer’s stock valued at $654,236,000 after acquiring an additional 406,436 shares during the last quarter. BlackRock Inc. increased its position in Cimarex Energy by 1.5% during the second quarter. BlackRock Inc. now owns 7,081,342 shares of the oil and gas producer’s stock valued at $420,135,000 after acquiring an additional 102,257 shares during the last quarter. Boston Partners increased its position in Cimarex Energy by 20.1% during the first quarter. Boston Partners now owns 6,989,669 shares of the oil and gas producer’s stock valued at $488,578,000 after acquiring an additional 1,169,027 shares during the last quarter. Diamond Hill Capital Management Inc. increased its position in Cimarex Energy by 15.9% during the second quarter. Diamond Hill Capital Management Inc. now owns 6,937,262 shares of the oil and gas producer’s stock valued at $411,588,000 after acquiring an additional 953,479 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Cimarex Energy by 33.8% during the second quarter. Victory Capital Management Inc. now owns 4,205,794 shares of the oil and gas producer’s stock valued at $249,530,000 after acquiring an additional 1,061,331 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.
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, 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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