In a report released yesterday, John Freeman from Raymond James reiterated a Buy rating on Cimarex Energy (XEC), with a price target of $78.00. The company’s shares closed last Thursday at $58.39, close to its 52-week high of $61.60.
According to TipRanks.com, Freeman is a 1-star analyst with an average return of -1.1% and a 40.2% success rate. Freeman covers the Utilities sector, focusing on stocks such as National Fuel Gas Company, Continental Resources, and Northern Oil And Gas.
Currently, the analyst consensus on Cimarex Energy is a Strong Buy with an average price target of $60.54, implying a 1.1% upside from current levels. In a report issued on February 24, Susquehanna also maintained a Buy rating on the stock with a $70.00 price target.
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Cimarex Energy’s market cap is currently $6.01B and has a P/E ratio of -2.90. The company has a Price to Book ratio of 3.78.
Based on the recent corporate insider activity of 33 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.
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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.
