In a report released yesterday, Gabriele Sorbara from Williams Capital reiterated a Buy rating on Cimarex Energy (NYSE: XEC), with a price target of $129. The company’s shares closed yesterday at $82.37, close to its 52-week low of $80.53.
According to TipRanks.com, Sorbara is a 2-star analyst with an average return of 0.3% and a 45.4% success rate. Sorbara covers the Basic Materials sector, focusing on stocks such as Gulfport Energy Corp, Extraction Oil & Gas, and Oasis Petroleum Inc.
Currently, the analyst consensus on Cimarex Energy is a Moderate Buy with an average price target of $128.55, a 56.1% upside from current levels. In a report issued on August 7, Stifel Nicolaus also reiterated a Buy rating on the stock with a $175 price target.
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The company has a one-year high of $130.16 and a one-year low of $80.53. Currently, Cimarex Energy has an average volume of 1.67M.
Based on the recent corporate insider activity of 52 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.
