Cimarex Energy (XEC) Started Coverage at MKM Partners

Cimarex Energy (XEC) Started Coverage at MKM Partners

MKM Partners started coverage on shares of Cimarex Energy (NYSE:XEC) in a research note issued on Wednesday, Marketbeat reports. The firm set a “buy” rating and a $108.00 price target on the oil and gas producer’s stock. MKM Partners’ target price suggests a potential upside of 43.24% from the stock’s current price.

A number of other analysts also recently commented on XEC. Williams Capital set a $129.00 price objective on Cimarex Energy and gave the stock a “buy” rating in a research report on Monday, November 19th. Cowen assumed coverage on Cimarex Energy in a research report on Thursday, November 29th. They issued a “market perform” rating and a $95.00 price objective for the company. ValuEngine downgraded Cimarex Energy from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 8th. Jefferies Financial Group set a $117.00 price objective on Cimarex Energy and gave the stock a “buy” rating in a research report on Tuesday, November 20th. Finally, Imperial Capital reiterated an “in-line” rating on shares of Cimarex Energy in a research report on Tuesday, November 20th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $125.00.

Shares of XEC stock opened at $75.40 on Wednesday. The company has a quick ratio of 1.62, a current ratio of 1.69 and a debt-to-equity ratio of 0.49. Cimarex Energy has a 12 month low of $73.01 and a 12 month high of $130.16. The company has a market capitalization of $7.74 billion, a price-to-earnings ratio of 16.22 and a beta of 1.10.

Cimarex Energy (NYSE:XEC) last announced its quarterly earnings data on Tuesday, November 6th. The oil and gas producer reported $1.99 EPS for the quarter, topping the Zacks’ consensus estimate of $1.52 by $0.47. Cimarex Energy had a return on equity of 23.33% and a net margin of 28.70%. The company had revenue of $591.50 million during the quarter, compared to the consensus estimate of $561.67 million. During the same quarter last year, the company earned $1.09 EPS. The company’s quarterly revenue was up 27.6% on a year-over-year basis. On average, equities research analysts forecast that Cimarex Energy will post 7.14 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. IFM Investors Pty Ltd increased its holdings in Cimarex Energy by 13.6% during the 3rd quarter. IFM Investors Pty Ltd now owns 5,064 shares of the oil and gas producer’s stock valued at $471,000 after purchasing an additional 606 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in Cimarex Energy by 9.7% during the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 7,091 shares of the oil and gas producer’s stock valued at $721,000 after purchasing an additional 628 shares in the last quarter. Toronto Dominion Bank increased its holdings in Cimarex Energy by 1.0% during the 3rd quarter. Toronto Dominion Bank now owns 61,985 shares of the oil and gas producer’s stock valued at $5,759,000 after purchasing an additional 637 shares in the last quarter. Belpointe Asset Management LLC increased its holdings in Cimarex Energy by 32.7% during the 3rd quarter. Belpointe Asset Management LLC now owns 3,167 shares of the oil and gas producer’s stock valued at $294,000 after purchasing an additional 780 shares in the last quarter. Finally, Global X Management Co LLC increased its holdings in Cimarex Energy by 71.7% during the 2nd quarter. Global X Management Co LLC now owns 2,559 shares of the oil and gas producer’s stock valued at $260,000 after purchasing an additional 1,069 shares in the last quarter. 98.53% of the stock is owned by institutional investors and hedge funds.

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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