Cimarex Energy Receives a Buy from FBR Capital

In a report released yesterday, Joseph Allman from FBR Capital reiterated a Buy rating on Cimarex Energy (NYSE: XEC), with a price target of $141. The company’s shares opened today at $116.19.

Allman said:

“We updated our model for marked-to-market commodity prices and the latest financial and operations data, including 1Q17 earnings. We reiterate our Outperform rating.”

According to, Allman is ranked 0 out of 5 stars with an average return of -7.1% and a 33.6% success rate. Allman covers the Basic Materials sector, focusing on stocks such as Approach Resources Inc, Whiting Petroleum Corp, and Continental Resources.

Currently, the analyst consensus on Cimarex Energy is Moderate Buy and the average price target is $143.80, representing a 23.8% upside.

In a report issued on May 10, Scotiabank also maintained a Buy rating on the stock with a $164 price target.

The company has a one year high of $146.96 and a one year low of $108.97. Currently, Cimarex Energy has an average volume of 1.06M.

Based on the recent corporate insider activity of 72 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Paul Teague, a Director at XEC sold 1,038 shares for a total of $124,560.

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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 projects covers Permian Basin and the Cana-Woodford 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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