Barclays Maintains Cimarex Energy Co to Overweight with Price Target $117.00

Brokerage firm Barclays Maintains its rating on Cimarex Energy Co(NYSE:XEC). In a research note issued to the investors, the brokerage major Raises the price-target to $117.00 per share. The shares have been rated Overweight. The rating by Barclays was issued on Jul 14, 2016.

In a different note, On May 6, 2016, Wunderlich said it Maintains its rating on Cimarex Energy Co. In the research note, the firm Raises the price-target to $105.00 per share. The shares have been rated ‘Buy’ by the firm.

Cimarex Energy Co (XEC) shares turned negative on Mondays trading session with the shares closing down -1.14 points or -0.95% at a volume of 5,55,435. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $119.72. The peak price level was also seen at $119.72 while the days lowest was $116.61. Finally the shares closed at $118.31. The 52-week high of the shares is $124.905 while the 52-week low is $72.77. According to the latest information available, the market cap of the company is $11,218 M.

Cimarex Energy Co has also declared a cash dividend of $0.0800 on May 13, 2016. The shares will quote ex-dividend on Aug 11, 2016 and the record date has been fixed on Aug 15, 2016. The dividend payable date has been fixed on Sep 1, 2016.

Cimarex Energy Co(XEC) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $240.60M. Analysts had an estimated revenue of $250.87M. Earnings per share were $-0.40. Analysts had estimated an EPS of $-0.40.

Several Insider Transactions has been reported to the SEC. On Jul 1, 2016, Thomas E Jorden (CEO and President) sold 2,500 shares at $119.87 per share price.Also, On Jun 15, 2016, Joseph R Albi (Executive VP, COO) sold 3,500 shares at $114.66 per share price.On Jun 9, 2016, James H Shonsey (VP, Controller) sold 4,320 shares at $121.45 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.

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