Cimarex Energy’s (XEC) Hold Rating Reiterated at Piper Jaffray Companies

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.

ILLEGAL ACTIVITY WARNING: “Cimarex Energy’s (XEC) Hold Rating Reiterated at Piper Jaffray Companies” was first reported by Transcript Daily and is the property of of Transcript Daily. If you are accessing this piece of content on another website, it was stolen and reposted in violation of U.S. & international copyright law. The original version of this piece of content can be viewed at https://transcriptdaily.com/2018/01/13/cimarex-energys-xec-hold-rating-reiterated-at-piper-jaffray-companies.html.

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.

Analyst Recommendations for Cimarex Energy (NYSE:XEC)

Receive News & Ratings for Cimarex Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cimarex Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply