Piper Jaffray Companies restated their hold rating on shares of Cimarex Energy (NYSE:XEC) in a report released on Tuesday. They currently have a $138.00 price target on the oil and gas producer’s stock.
Several other equities research analysts have also commented on the company. Morgan Stanley boosted their price objective on Cimarex Energy from $138.00 to $168.00 and gave the stock an overweight rating in a research note on Wednesday, October 18th. Credit Suisse Group started coverage on Cimarex Energy in a research note on Monday, December 11th. They set an outperform rating and a $140.00 price objective for the company. Stifel Nicolaus set a $168.00 price objective on Cimarex Energy and gave the stock a buy rating in a research note on Thursday, October 5th. KeyCorp reiterated a buy rating and set a $130.00 price objective on shares of Cimarex Energy in a research note on Friday, October 20th. Finally, Barclays boosted their price objective on Cimarex Energy from $132.00 to $141.00 and gave the stock an overweight rating in a research note on Monday, November 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $136.55.
Cimarex Energy (NYSE:XEC) traded down $0.51 during trading hours on Tuesday, reaching $127.14. The company’s stock had a trading volume of 1,459,914 shares, compared to its average volume of 776,125. Cimarex Energy has a 52 week low of $89.49 and a 52 week high of $144.30. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.62. The stock has a market cap of $12,160.05, a price-to-earnings ratio of 33.81 and a beta of 1.33.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings data on Tuesday, November 7th. The oil and gas producer reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.12. Cimarex Energy had a return on equity of 16.11% and a net margin of 20.45%. The company had revenue of $463.68 million during the quarter, compared to analyst estimates of $451.53 million. During the same period in the previous year, the business earned $0.53 EPS. Cimarex Energy’s quarterly revenue was up 38.1% on a year-over-year basis. analysts anticipate that Cimarex Energy will post 4.41 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be given a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.25%. Cimarex Energy’s dividend payout ratio (DPR) is presently 8.51%.
In related news, VP Stephen P. Bell sold 3,696 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $125.11, for a total value of $462,406.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Thomas E. Jorden sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $125.10, for a total value of $312,750.00. The disclosure for this sale can be found here. Insiders sold 32,264 shares of company stock valued at $3,804,134 over the last 90 days. Company insiders own 1.70% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Inc. lifted its holdings in Cimarex Energy by 5.3% in the second quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock valued at $113,000 after acquiring an additional 60 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Cimarex Energy in the third quarter valued at approximately $206,000. Pacer Advisors Inc. lifted its holdings in Cimarex Energy by 8.3% in the second quarter. Pacer Advisors Inc. now owns 1,935 shares of the oil and gas producer’s stock valued at $182,000 after acquiring an additional 148 shares during the last quarter. Cue Financial Group Inc. acquired a new position in Cimarex Energy in the third quarter valued at approximately $224,000. Finally, Farr Miller & Washington LLC DC acquired a new position in Cimarex Energy in the third quarter valued at approximately $227,000. Hedge funds and other institutional investors own 92.00% of the company’s stock.
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Cimarex Energy Company Profile
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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