Morgan Stanley analyst Drew Venker maintained a Buy rating on Cimarex Energy (XEC) today and set a price target of $127. The company’s shares opened today at $86.64.
According to TipRanks.com, Venker has 0 stars on 0-5 star ranking scale with an average return of -9.1% and a 29.2% success rate. Venker covers the Basic Materials sector, focusing on stocks such as Whiting Petroleum Corp, Continental Resources, and Range Resources Corp.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cimarex Energy with a $130.83 average price target, which is a 51.0% upside from current levels. In a report issued on November 7, Williams Capital also reiterated a Buy rating on the stock with a $129 price target.
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Based on Cimarex Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $146 million. In comparison, last year the company had a net profit of $89.83 million.
Based on the recent corporate insider activity of 42 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.
