Cimarex Energy Co (NYSE:XEC) was upgraded by analysts at Wunderlich from a “hold” rating to a “buy” rating in a report issued on Thursday, The Fly reports. The firm currently has a $122.00 price objective on the stock. Wunderlich’s target price indicates a potential upside of 31.18% from the company’s current price.

A number of other brokerages also recently weighed in on XEC. Zacks Investment Research upgraded Cimarex Energy from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a report on Monday, November 2nd. Canaccord Genuity reiterated a “hold” rating and issued a $110.00 target price on shares of Cimarex Energy in a report on Thursday, November 5th. Topeka Capital Markets lifted their target price on Cimarex Energy from $115.00 to $128.00 and gave the stock a “hold” rating in a report on Wednesday, November 4th. Citigroup Inc. upgraded Cimarex Energy from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $125.00 to $110.00 in a report on Tuesday, January 5th. Finally, Susquehanna began coverage on Cimarex Energy in a report on Thursday, October 29th. They issued a “neutral” rating for the company. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $119.04.

A number of institutional investors have bought and sold shares of the company. Fisher Asset Management boosted its position in Cimarex Energy by 1.2% in the fourth quarter. Fisher Asset Management now owns 3,037 shares of the company’s stock valued at $271,000 after buying an additional 37 shares during the last quarter. Essex Investment Management Co. LLC acquired a new position in Cimarex Energy during the fourth quarter valued at approximately $303,000. Oakbrook Investments LLC acquired a new position in Cimarex Energy during the fourth quarter valued at approximately $456,000. Simplex Trading boosted its position in Cimarex Energy by 104.6% in the fourth quarter. Simplex Trading now owns 5,317 shares of the company’s stock valued at $475,000 after buying an additional 2,718 shares during the last quarter. Finally, Kanaly Trust Co. boosted its position in Cimarex Energy by 10.7% in the fourth quarter. Kanaly Trust Co. now owns 6,018 shares of the company’s stock valued at $538,000 after buying an additional 582 shares during the last quarter.

In related news, Director Hans Helmerich sold 25,000 shares of the business’s stock in a transaction dated Monday, December 14th. The stock was sold at an average price of $102.17, for a total transaction of $2,554,250.00. Following the completion of the transaction, the director now directly owns 14,166 shares in the company, valued at $1,447,340.22. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Stephen P. Bell sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 18th. The stock was sold at an average price of $118.10, for a total value of $590,500.00. Following the transaction, the vice president now owns 70,477 shares of the company’s stock, valued at $8,323,333.70. The disclosure for this sale can be found here.

Shares of Cimarex Energy (NYSE:XEC) traded down 5.88% during midday trading on Thursday, hitting $87.53. The stock had a trading volume of 913,945 shares. The firm’s market cap is $8.28 billion. The company’s 50 day moving average is $87.78 and its 200 day moving average is $105.53. Cimarex Energy has a 52 week low of $72.77 and a 52 week high of $132.18.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 1st. Investors of record on Monday, February 15th will be paid a dividend of $0.16 per share. This is a positive change from Cimarex Energy’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Wednesday, February 10th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.69%.

Cimarex Energy Co. (NYSE:XEC) is an independent oil and gas exploration and production company. Its operations are located mainly in Oklahoma, Texas and New Mexico. The Company’s exploration and production (E&P) activities take place primarily in two areas: the Permian Basin and the Mid-Continent region. The Permian region encompasses west Texas and southeast New Mexico. Cimarex’s Permian Basin efforts are located in the western half of the Permian Basin known as the Delaware Basin. In 2014, the Company focused on drilling horizontal wells that yielded oil and liquids-rich gas from the Wolfcamp shale, the Bone Spring formation, and the Avalon shale. The Permian region produced 399 Million cubic feet equivalent (MMcfe) per day in 2014.The Company’s Mid-Continent region consists of Oklahoma and the Texas Panhandle. The Mid-Continent region produced around 451.2 MMcfe per day.

12 Month Chart for NYSE:XEC

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