In a report issued on July 16, Gabriele Sorbara from Siebert Williams Shank & Co maintained a Buy rating on Cimarex Energy (XEC), with a price target of $37.00. The company’s shares closed last Thursday at $26.45.
According to TipRanks.com, Sorbara ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -22.3% and a 24.9% success rate. Sorbara covers the Utilities sector, focusing on stocks such as Continental Resources, Matador Resources, and Concho Resources.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cimarex Energy with a $37.15 average price target, a 41.3% upside from current levels. In a report issued on July 1, Credit Suisse also maintained a Buy rating on the stock with a $39.00 price target.
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Based on Cimarex Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $473 million and GAAP net loss of $774 million. In comparison, last year the company earned revenue of $577 million and had a net profit of $26.32 million.
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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.
