Cimarex Energy Receives a Hold from Nomura Holdings

By Austin Angelo

Nomura Holdings analyst Lloyd Byrne reiterated a Hold rating on Cimarex Energy (NYSE: XEC) today and set a price target of $129. The company’s shares opened today at $123.71.

According to TipRanks.com, Byrne is a 4-star analyst with an average return of 8.6% and a 62.0% success rate. Byrne covers the Basic Materials sector, focusing on stocks such as Diamond Offshore Drilling, Parker Drilling Company, and Whiting Petroleum Corp.

Currently, the analyst consensus on Cimarex Energy is Moderate Buy and the average price target is $139.20, representing a 12.5% upside.

In a report issued on November 2, J.P. Morgan also reiterated a Hold rating on the stock.

Based on Cimarex Energy’s latest earnings report from September 30, the company posted quarterly revenue of $335.7M and quarterly net profit of -$12.82M. 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. Most recently, in September 2016, Francis Brian Barron, 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.