Raymond James Believes Cimarex Energy (XEC) Won’t Stop Here

In a report released yesterday, John Freeman from Raymond James maintained a Buy rating on Cimarex Energy (XEC). The company’s shares closed last Thursday at $67.65, close to its 52-week high of $70.75.

According to TipRanks.com, Freeman is a 4-star analyst with an average return of 5.8% and a 45.6% success rate. Freeman covers the Utilities sector, focusing on stocks such as National Fuel Gas Company, Continental Resources, and Occidental Petroleum.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cimarex Energy with a $80.73 average price target, a 18.0% upside from current levels. In a report issued on April 20, Mizuho Securities also maintained a Buy rating on the stock with a $90.00 price target.

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Cimarex Energy’s market cap is currently $7.24B and has a P/E ratio of -3.20. The company has a Price to Book ratio of 4.24.

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.

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