Nomura Holdings Reiterates a Hold Rating on Cimarex Energy

In a report released today, Lloyd Byrne from Nomura Holdings reiterated a Hold rating on Cimarex Energy (NYSE: XEC), with a price target of $129. The company’s shares closed last Friday at $134.37, close to its 52-week high of $136.95.

According to, Byrne is a 5-star analyst with an average return of 17.6% and a 81.8% success rate. Byrne covers the Basic Materials sector, focusing on stocks such as Whiting Petroleum Corp., Continental Resources, and Range Resources Corp.

Cimarex Energy has an analyst consensus of Moderate Buy, with a price target consensus of $134.50.

Based on Cimarex Energy`s latest earnings report from June 30, the company posted quarterly revenue of $298.9M and quarterly net profit of -$270.3M. In comparison, last year the company earned revenue of $356.1M and had a net profit of -$763.3M.

Based on the recent corporate insider activity of 67 insiders, corporate insider sentiment is negative on the stock. Last month, Francis Brian Barron, a the Sr VP-General Counsel of XEC sold 500 shares for a total of $67,765.

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.