In a report released today, Devin McDermott from Morgan Stanley maintained a Buy rating on Cimarex Energy (XEC), with a price target of $28.00. The company’s shares closed last Monday at $26.88.
According to TipRanks.com, McDermott has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -8.3% and a 32.5% success rate. McDermott covers the Utilities sector, focusing on stocks such as Continental Resources, Occidental Petroleum, and Chesapeake Energy.
Currently, the analyst consensus on Cimarex Energy is a Moderate Buy with an average price target of $27.73, which is a 7.6% upside from current levels. In a report issued on May 7, Siebert Williams Shank & Co also maintained a Buy rating on the stock with a $27.00 price target.
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The company has a one-year high of $71.58 and a one-year low of $12.15. Currently, Cimarex Energy has an average volume of 3.74M.
Based on the recent corporate insider activity of 39 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.
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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.
