Cimarex (NYSE:XEC) Reaching An Inflection Point; Sun Trust Rbsn Humphrey Coverage Initiated as Buy


How Sun Trust Rbsn Humphrey Currently Rates Cimarex (NYSE:XEC)

Sun Trust Rbsn Humphrey released in an interesting research note that it began issuing coverage on Cimarex (NYSE:XEC) stock, with Buy rating.

From a total of 30 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 $128.43 with a 27.36% above today’s ($95.79) stock price. Cimarex Energy was the topic of 22 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. JP Morgan initiated shares on December 9 with “Neutral” rating. Iberia Capital Partners initiated shares with “Outperform” rating and $122 target share price in a report from a September 17. Topeka Capital Markets maintained XEC stock in a recent report from November 4 with “Hold” rating. Citigroup maintained the rating on September 14. Citigroup has a “Neutral” rating and a $118 price target on shares. Finally, Canaccord Genuity initiated the stock with “Hold” rating in a report issued on an October 20.

Approximately 921,721 shares of stock traded hands. Cimarex Energy Co (NYSE:XEC) has declined 12.42% since May 14, 2015 and is downtrending. It has underperformed by 10.16% the S&P500.

The overall sentiment of institutions has decreased to 1.11 in Q2 2015. Its down 0.24, from 1.35 in 2015Q2. The ratio fall, as 50 institutions have sold all the shares of Cimarex Energy Co that they owned while 134 funds have taken shares off the table. 49 funds have purchased shares for the first time while 156 added to their positions. These institutions now hold 101.42 million shares or 14.09% more than the 88.89 million shares they owned in 2015Q2.

The Fund Astenbeck Capital Management Llc currently is holding shares equating to 12.75% of its total portfolio in Cimarex Energy Co representing a total of 143,967 shares. Another fund,Tbp Investments Management Llc, is holding a total of 27,988 shares equating to 7.73% of their holdings. Additionally, Caymus Capital Partners L.P. has a 359,611 share stake in Cimarex Energy Co which represents 7.47% of their total portfolio. The Fund, Mitchell Group Inc, based out of Texas, has also built up a stake in the stock, which represents a total of 6.24% of their total portfolio. Finally Geosphere Capital Management, a fund which is based in the state of New York reported a total holdings of 18,000 shares.

Insider activity is a very important aspect to track on any stock. Going back to February 25, 2015, shareholders of Cimarex Energy Co have witnessed 0 insider purchases, and a total of 8 selling transactions equating to a net activity of approximately $5.79 million . Albi Joseph R sold 1,110 shares worth approximately $115,440. Jorden Thomas E sold 3,000 shares worth approximately $327,587. Korus Paul sold 10,000 shares worth approximately $1.17M. Bell Stephen P sold 11,390 shares worth approximately $1.31M. The company insider Dinkins Richard S sold 15,500 shares worth $1.77 million.

Cimarex Energy Co. is an independent gas and oil exploration and production company. The company has a market cap of $9.26 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.”