Stock Analysis:Cimarex Energy (NYSE:XEC) Target Change
In a recent report issued to clients and investors by Jefferies & Co on 2 December, Cimarex Energy (NYSE:XEC) had its target boosted to $99.00. The firm currently has a solid “Underperform” rating on shares.
From a total of 28 analysts covering Cimarex Energy (NYSE:XEC) stock, 15 rate it a ”Buy”, 1 a “Sell”, and 14 a ”Hold”. This means that 50% of the ratings are positive. The highest target price is $165 while the lowest target price is $98. The mean of all analyst targets is $130.32 with a 1.61% above today’s ($120.13) stock price. Cimarex Energy was the topic of 20 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Wunderlich downgraded shares on November 5 to “Hold” rating. Citigroup maintained shares with “Neutral” rating and $118 target share price in a report from a September 14. Susquehanna initiated XEC stock in a recent report from October 30 with “Neutral” rating. CLSA upgraded the rating on August 12. CLSA has a “Underperform” rating and a $128 price target on shares. Finally, Iberia Capital Partners initiated the stock with “Outperform” rating in a report issued on a September 17.
Approximately 153,190 shares of stock traded hands. Cimarex Energy Co (NYSE:XEC) has declined 3.10% since April 29, 2015 and is downtrending. It has underperformed by 2.90% the S&P500.
Cimarex Energy Co. is an independent gas and oil exploration and production company. The company has a market cap of $11.36 billion. The Company’s activities are located mainly in Oklahoma, Texas and New Mexico. It currently has negative earnings. The Company’s exploration and production (E&P) activities take place primarily in two areas: the Permian Basin and the Mid-Continent region.
According to Zacks Investment Research, “Cimarex Energy is an independent oil and gas exploration and production company focused on increasing shareholder value through strategies linked to generating attractive economic returns on capital employed and profitable growth in per-share reserves, production, and cash flow. They intend to profitably grow reserves and production through a balanced mix of exploration, exploitation and acquisitions. They have a diversified base of high-quality production along with attractive drilling opportunities.” Get a free copy of the Zacks research report on Cimarex Energy Co (XEC).