Cimarex Energy Co (XEC) is Reiterated by Stifel to Buy, Raises Price Target to $ 120

Cimarex Energy Co (XEC) was Reiterated by Stifel to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 120 from a previous price target of $110 . Stifel advised their investors in a research report released on Apr 12, 2016.

Many Wall Street Analysts have commented on Cimarex Energy Co. Company shares were Reiterated by Stifel on Apr 12, 2016 to “Buy”, Firm has raised the Price Target to $ 120 from a previous price target of $110 .Shares were Reiterated by Canaccord Genuity on Feb 22, 2016 to “Hold” and Lowered the Price Target to $ 75 from a previous price target of $82 .Shares were Reiterated by Wunderlich on Feb 18, 2016 to “Buy” and Lowered the Price Target to $ 105 from a previous price target of $122 .

On the company’s financial health, Cimarex Energy Co reported $-0.25 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Feb 16, 2016. Analyst had a consensus of $-0.22. The company had revenue of $311.30 million for the quarter, compared to analysts expectations of $312.40 million. The company’s revenue was down -42.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.87 EPS.

Cimarex Energy Co opened for trading at $102.61 and hit $103.26 on the upside on Monday, eventually ending the session at $102.92, with a gain of 1.30% or 1.32 points. The heightened volatility saw the trading volume jump to 10,09,418 shares. Company has a market cap of $9,759 M.

Investors should note that on Feb 23, 2016, Cimarex Energy Co announced a cash dividend of $0.0800. The company’s management has announced May 11, 2016 as the ex-dividend date and fixed the record date on May 13, 2016. The payable date has been fixed on Jun 1, 2016.

In a different news, on Mar 15, 2016, Joseph R Albi (Executive VP, COO) sold 7,500 shares at $93.62 per share price. According to the SEC, on Mar 15, 2016, Stephen P Bell (Ex VP) sold 14,930 shares at $95.01 per share price. On Mar 14, 2016, Thomas E Jorden (CEO and President) sold 5,000 shares at $93.45 per share price, according to the Form-4 filing with the securities and exchange commission.

Cimarex Energy Co. (Cimarex) is an independent oil and gas exploration and production company. Its operations are located mainly in Oklahoma Texas and New Mexico. The Company’s exploration and production (E&P) activities take place primarily in two areas: the Permian Basin and the Mid-Continent region. The Permian region encompasses west Texas and southeast New Mexico. Cimarex’s Permian Basin efforts are located in the western half of the Permian Basin known as the Delaware Basin. In 2014 the Company focused on drilling horizontal wells that yielded oil and liquids-rich gas from the Wolfcamp shale the Bone Spring formation and the Avalon shale. The Permian region produced 399 Million cubic feet equivalent (MMcfe) per day in 2014.The Company’s Mid-Continent region consists of Oklahoma and the Texas Panhandle. The Mid-Continent region produced around 451.2 MMcfe per day.

Cimarex Energy Co

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