MKM Partners analyst John Gerdes upgraded Cimarex Energy (XEC) to Buy today. The company’s shares closed last Wednesday at $60.88.
According to TipRanks.com, Gerdes is a 3-star analyst with an average return of 3.3% and a 47.6% success rate. Gerdes covers the Utilities sector, focusing on stocks such as Whiting Petroleum Corporation, Continental Resources, and Occidental Petroleum.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cimarex Energy with a $75.77 average price target, implying a 29.2% upside from current levels. In a report issued on April 15, Scotiabank also upgraded the stock to Buy with a $75.00 price target.
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Cimarex Energy’s market cap is currently $6.26B and has a P/E ratio of -3.00. The company has a Price to Book ratio of 3.97.
Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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.
