FBR Capital Reiterates a Buy Rating on Cimarex Energy

By Ryan Adsit

In a report released yesterday, Joseph Allman from FBR Capital reiterated a Buy rating on Cimarex Energy (NYSE: XEC). The company’s shares opened today at $121.53.

According to TipRanks.com, Allman is ranked 0 out of 5 stars with an average return of -8.9% and a 31.4% 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 $134.60, representing a 10.8% upside.

In a report issued on November 1, Stifel Nicolaus also reiterated a Buy rating on the stock with a $155 price target.

The company has a one year high of $142.20 and a one year low of $72.77. Currently, Cimarex Energy has an average volume of 879.2K.

Based on the recent corporate insider activity of 66 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.