Cimarex Energy (XEC) Stock Rating Lowered by Susquehanna Bancshares

Cimarex Energy (NYSE:XEC) was downgraded by stock analysts at Susquehanna Bancshares from a “positive” rating to a “neutral” rating in a report released on Monday, November 13th, Marketbeat Ratings reports.

Other analysts also recently issued research reports about the stock. Stifel Nicolaus set a $168.00 target price on shares of Cimarex Energy and gave the stock a “buy” rating in a report on Thursday, October 5th. Williams Capital reissued a “buy” rating and issued a $136.00 price objective on shares of Cimarex Energy in a report on Wednesday, August 9th. Cowen set a $135.00 price objective on shares of Cimarex Energy and gave the company a “buy” rating in a report on Friday, August 25th. Citigroup cut their price target on shares of Cimarex Energy from $135.00 to $120.00 and set a “buy” rating for the company in a report on Friday, July 21st. Finally, KeyCorp reaffirmed a “buy” rating and set a $130.00 price target on shares of Cimarex Energy in a report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $137.14.

Cimarex Energy (NYSE XEC) opened at $116.89 on Monday. The firm has a market cap of $11,140.00, a PE ratio of 30.56 and a beta of 1.35. Cimarex Energy has a 52 week low of $89.49 and a 52 week high of $146.96. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.42 and a current ratio of 1.51.

Cimarex Energy (NYSE:XEC) last released its quarterly earnings data on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.12. The company had revenue of $463.68 million for the quarter, compared to analyst estimates of $451.53 million. Cimarex Energy had a net margin of 20.45% and a return on equity of 16.11%. Cimarex Energy’s revenue for the quarter was up 38.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.53 EPS. research analysts predict that Cimarex Energy will post 4.35 earnings per share for the current fiscal year.

In other Cimarex Energy news, VP Stephen P. Bell sold 2,500 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $102.54, for a total value of $256,350.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Joseph R. Albi sold 2,000 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $106.11, for a total transaction of $212,220.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,448 shares of company stock worth $3,468,665. 1.70% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in XEC. Turner Investments LLC purchased a new stake in Cimarex Energy during the second quarter worth about $100,000. Advisor Group Inc. increased its holdings in Cimarex Energy by 5.3% during the second quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock worth $113,000 after buying an additional 60 shares during the last quarter. Global X Management Co. LLC increased its holdings in Cimarex Energy by 14.7% during the second quarter. Global X Management Co. LLC now owns 1,265 shares of the oil and gas producer’s stock worth $119,000 after buying an additional 162 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Cimarex Energy by 0.7% during the second quarter. State of Alaska Department of Revenue now owns 1,427 shares of the oil and gas producer’s stock worth $134,000 after buying an additional 10 shares during the last quarter. Finally, Pacer Advisors Inc. increased its holdings in Cimarex Energy by 8.3% during the second quarter. Pacer Advisors Inc. now owns 1,935 shares of the oil and gas producer’s stock worth $182,000 after buying an additional 148 shares during the last quarter. Institutional investors own 92.37% of the company’s stock.

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About Cimarex Energy

Cimarex Energy Co is an independent oil and gas exploration and production company. The Company operates in exploration and production (E&P) segment. Its operations are located in Oklahoma, Texas and New Mexico. Its E&P activities take place primarily in two areas: the Permian Basin and the Mid-Continent region.

Analyst Recommendations for Cimarex Energy (NYSE:XEC)

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