Should Cimarex (XEC) Shares Be Watched After MKM Partners Initiates Coverage?

Cimarex Energy Co. (NYSE:XEC) Logo

Investors sentiment decreased to 1.16 in 2018 Q2. Its down 0.04, from 1.2 in 2018Q1. It turned negative, as 51 investors sold Cimarex Energy Co. shares while 119 reduced holdings. 53 funds opened positions while 145 raised stakes. 93.21 million shares or 5.30% more from 88.51 million shares in 2018Q1 were reported.

3,902 were accumulated by Grp Incorporated One Trading L P. Cambridge Investment Research Advisors invested 0% in Cimarex Energy Co. (NYSE:XEC). Teachers Retirement Systems Of The State Of Kentucky holds 0.04% or 30,785 shares. Schroder Mgmt Grp invested 0.04% of its portfolio in Cimarex Energy Co. (NYSE:XEC). Waddell And Reed Fincl reported 0.08% of its portfolio in Cimarex Energy Co. (NYSE:XEC). Vanguard Group holds 0.04% or 10.01M shares. Suntrust Banks Incorporated owns 3,142 shares. Connor Clark And Lunn Inv Management stated it has 164,275 shares. Jpmorgan Chase invested in 393,519 shares. 45,842 were reported by Bnp Paribas Arbitrage Sa. Blair William & Com Il holds 0.04% of its portfolio in Cimarex Energy Co. (NYSE:XEC) for 51,740 shares. Natixis Advsr Limited Partnership has 14,211 shares. Cibc has invested 0.01% in Cimarex Energy Co. (NYSE:XEC). Bridgewater Associate Lp holds 0.2% of its portfolio in Cimarex Energy Co. (NYSE:XEC) for 200,375 shares. 11,090 are held by Architects Inc.

Since June 27, 2018, it had 1 buy, and 2 selling transactions for $252,382 activity. 1,040 shares valued at $104,104 were sold by TEAGUE L PAUL on Wednesday, June 27. $26,897 worth of Cimarex Energy Co. (NYSE:XEC) shares were bought by STEWART LISA A.

Why Has MKM Partners Given Cimarex (XEC) a $108.0 Price Target

Investment firm MKM Partners has today began coverage on Cimarex (XEC) shares, with a “Buy” rating, while giving it the price target at $108.0.

The stock decreased 6.82% or $5.52 during the last trading session, reaching $75.4. About 2.74 million shares traded or 85.38% up from the average. Cimarex Energy Co. (XEC) has declined 11.98% since December 7, 2017 and is downtrending. It has underperformed by 27.60% the S&P500.

Analysts await Cimarex Energy Co. (NYSE:XEC) to report earnings on February, 13. They expect $1.95 EPS, up 32.65 % or $0.48 from last year’s $1.47 per share. XEC’s profit will be $186.47 million for 9.67 P/E if the $1.95 EPS becomes a reality. After $1.99 actual EPS reported by Cimarex Energy Co. for the previous quarter, Wall Street now forecasts -2.01 % negative EPS growth.

Cimarex Energy Co. operates as an independent gas and oil exploration and production firm primarily in Oklahoma, Texas, and New Mexico. The company has market cap of $7.21 billion. As of December 31, 2016, it had a total proved gas and oil reserves of 2.89 trillion cubic feet equivalent consisting of 1.47 trillion cubic feet of natural gas, 0.64 Tcfe of oil, and 0.78 Tcfe of natural gas liquids primarily located in the Mid-Continent and Permian Basin regions. It has a 11.03 P/E ratio. The firm also owned interests in 3,094 net productive gas and oil wells.

More notable recent Cimarex Energy Co. (NYSE:XEC) news were published by: Globenewswire.com which released: “SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors of an Investigation Regarding Whether the Sale of Resolute Energy Corporation to Cimarex Energy Co. is Fair to Shareholders – GlobeNewswire” on November 19, 2018, also Benzinga.com with their article: “35 Stocks Moving In Monday’s Mid-Day Session – Benzinga” published on November 19, 2018, Twst.com published: “Resolute Energy Corporation: MERGER ALERT – REN, ATHN, and ITG: Levi & Korsinsky, LLP Reminds Investors of Investigations Concerning the Sale of these Companies – The Wall Street Transcript” on December 03, 2018. More interesting news about Cimarex Energy Co. (NYSE:XEC) were released by: Twst.com and their article: “Cimarex Energy Company: Cimarex to Acquire Delaware Pure-Play Resolute for $1.6 billion – The Wall Street Transcript” published on December 06, 2018 as well as Globenewswire.com‘s news article titled: “Factors of Influence in 2018, Key Indicators and Opportunity within Antares Pharma, Encana, PPG Industries, Cato, Cimarex Energy, and Ormat Technologies — New Research Emphasizes Economic Growth – GlobeNewswire” with publication date: December 03, 2018.

Cimarex Energy Co. (NYSE:XEC) Institutional Positions Chart

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