| Wunderlich Securities Reiterates Buy, Raises Price Target On Cimarex Energy On Plenty Of Flexibility | |
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In a report published Thursday, Wunderlich Securities analyst Irene O. Haas reiterated a Buy rating on Cimarex Energy Co. (NYSE: XEC), and raised the price target from $122.00 to $132.00.
In the report, Wunderlich Securities noted, "Cimarex Energy (XEC) is exiting 2014 with a debt-to-cap ratio of 25% and should be able to fund a much-reduced capex of $0.9-$1.1 billion in 2015 with operational cash flow and cash on hand. The company is determined not to increase leverage in this uncertain time. By starting with a very defensive game plan, XEC has plenty of flexibility and the option to ramp up if and when crude prices stabilize. XEC delivered impressive growth in proved reserves and, as a result, we raised our NAV and price target from $122 to $132. Even in a $50/ bbl oil and $3/mcfe gas environment, the combination of lower service costs and optimization is yielding some very strong returns in some of XEC's key plays in the Permian and the Mid-Continent. We reiterate our Buy rating on XEC."
Cimarex Energy closed on Wednesday at $113.14.
Latest Ratings for XEC
Date | Firm | Action | From | To |
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Feb 2015 | Wolfe Research | Initiates Coverage on | | Outperform | Feb 2015 | Stifel Nicolaus | Maintains | | Buy | Jan 2015 | Barclays | Maintains | | Overweight |
View More Analyst Ratings for XEC
View the Latest Analyst Ratings
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Cimarex Energy Co.
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CODE : XEC |
ISIN : US1717981013 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Cimarex Energy is a producing company based in United states of america. Cimarex Energy is listed in Germany and in United States of America. Its market capitalisation is US$ 8.3 billions as of today (€ 7.2 billions). Its stock quote reached its highest recent level on May 23, 2018 at US$ 99.89, and its lowest recent point on September 30, 2021 at US$ 87.20. Cimarex Energy has 95 438 121 shares outstanding. |