Cimarex Energy Co (NYSE:XEC)‘s stock had its “buy” rating reaffirmed by investment analysts at Stifel Nicolaus in a note issued to investors on Friday. They presently have a $169.00 price objective on the oil and gas producer’s stock. Stifel Nicolaus’ price target points to a potential upside of 80.13% from the stock’s current price.
XEC has been the topic of several other reports. FBR & Co set a $141.00 price target on Cimarex Energy and gave the company a “buy” rating in a research report on Thursday, May 18th. Credit Suisse Group started coverage on Cimarex Energy in a research report on Thursday, June 1st. They set an “outperform” rating and a $138.00 price target on the stock. Scotiabank set a $164.00 price target on Cimarex Energy and gave the company a “buy” rating in a research report on Monday, March 27th. Barclays PLC reiterated an “overweight” rating and set a $129.00 price target (down from $139.00) on shares of Cimarex Energy in a research report on Saturday, April 22nd. Finally, Citigroup Inc. reissued a “buy” rating and set a $166.00 price objective (up from $164.00) on shares of Cimarex Energy in a research note on Saturday, April 22nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company’s stock. Cimarex Energy has a consensus rating of “Hold” and a consensus price target of $138.90.
Shares of Cimarex Energy (NYSE XEC) opened at 93.82 on Friday. Cimarex Energy has a 52-week low of $89.49 and a 52-week high of $146.96. The firm’s 50-day moving average price is $104.05 and its 200-day moving average price is $121.82. The stock’s market capitalization is $8.76 billion.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings results on Wednesday, May 10th. The oil and gas producer reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.20. Cimarex Energy had a positive return on equity of 9.03% and a negative net margin of 7.78%. The company had revenue of $447.20 million for the quarter, compared to analysts’ expectations of $423.62 million. During the same period last year, the firm earned ($0.40) EPS. The firm’s revenue for the quarter was up 85.9% on a year-over-year basis. Equities analysts forecast that Cimarex Energy will post $4.41 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, August 11th. This represents a $0.32 annualized dividend and a dividend yield of 0.34%. Cimarex Energy’s dividend payout ratio is -25.20%.
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In related news, Director L Paul Teague sold 1,038 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $120.00, for a total transaction of $124,560.00. Following the completion of the sale, the director now directly owns 44,394 shares in the company, valued at $5,327,280. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Stephen P. Bell sold 5,000 shares of the stock in a transaction on Friday, May 19th. The stock was sold at an average price of $117.24, for a total value of $586,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,538 shares of company stock valued at $1,001,760. 1.70% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in XEC. BlackRock Inc. raised its stake in shares of Cimarex Energy by 3,127.3% in the first quarter. BlackRock Inc. now owns 7,141,421 shares of the oil and gas producer’s stock valued at $853,329,000 after buying an additional 6,920,140 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Cimarex Energy by 2.7% in the first quarter. Public Employees Retirement System of Ohio now owns 51,868 shares of the oil and gas producer’s stock valued at $6,198,000 after buying an additional 1,350 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Cimarex Energy during the fourth quarter valued at about $418,000. Hudson Bay Capital Management LP purchased a new stake in shares of Cimarex Energy during the fourth quarter valued at about $1,699,000. Finally, Princeton Alpha Management LP purchased a new stake in shares of Cimarex Energy during the first quarter valued at about $361,000. Institutional investors and hedge funds own 92.60% of the company’s stock.
About Cimarex Energy
Cimarex Energy Co is an independent oil and gas exploration and production company. The Company operates in exploration and production (E&P) segment. Its operations are located in Oklahoma, Texas and New Mexico. Its E&P activities take place primarily in two areas: the Permian Basin and the Mid-Continent region.
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