After Cowen & Co. and Merrill Lynch gave Cimarex Energy (NYSE: XEC) a Buy rating last month, the company received another Buy, this time from Jefferies. Analyst Mark Lear reiterated a Buy rating on Cimarex Energy (NYSE: XEC) today and set a price target of $118. The company’s shares closed yesterday at $97.39.
According to TipRanks.com, Lear is a 3-star analyst with an average return of 1.8% and a 50.6% success rate. Lear covers the Basic Materials sector, focusing on stocks such as CNX Resources Corporation, Whiting Petroleum Corp, and Jagged Peak Energy Inc.
Currently, the analyst consensus on Cimarex Energy is a Moderate Buy with an average price target of $129.
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Cimarex Energy’s market cap is currently $9.29B and has a P/E ratio of 16.88. The company has a Price to Book ratio of 3.38.
Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of XEC in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Cimarex Energy Co. is an independent oil and gas exploration and production company. Its activities include drilling, completing and operating wells. It operates through the following areas: Permian Basin, Mid-Continent, and Others in Oklahoma, Texas and New Mexico. The company was founded by F. H. Merelli in February 2002 and is headquartered in Denver, CO.
