Shares of Cimarex Energy Co (NYSE:XEC) gapped up prior to trading on Friday . The stock had previously closed at $43.42, but opened at $44.31. Cimarex Energy shares last traded at $47.95, with a volume of 3,007,600 shares traded.
A number of analysts have weighed in on XEC shares. Morgan Stanley reduced their target price on Cimarex Energy from $81.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 14th. SunTrust Banks set a $60.00 target price on Cimarex Energy and gave the stock a “buy” rating in a research note on Wednesday, August 7th. BMO Capital Markets lowered Cimarex Energy from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $82.00 to $67.00 in a research note on Thursday, July 11th. Capital One Financial upgraded Cimarex Energy from an “equal weight” rating to an “overweight” rating in a research note on Thursday, May 23rd. Finally, Wells Fargo & Co started coverage on Cimarex Energy in a research note on Monday, May 20th. They issued a “market perform” rating and a $86.00 target price on the stock. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $77.39.
The company has a current ratio of 0.64, a quick ratio of 0.57 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average price of $43.18 and a 200-day moving average price of $58.85. The firm has a market cap of $4.57 billion, a P/E ratio of 6.48 and a beta of 1.33.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.38). Cimarex Energy had a return on equity of 16.59% and a net margin of 25.66%. The firm had revenue of $546.46 million for the quarter, compared to the consensus estimate of $594.90 million. During the same period in the previous year, the company posted $1.59 EPS. Cimarex Energy’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, equities analysts anticipate that Cimarex Energy Co will post 4.68 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Thursday, November 14th. Cimarex Energy’s payout ratio is 10.81%.
Institutional investors and hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC grew its position in shares of Cimarex Energy by 1,170.2% during the 2nd quarter. Advisory Services Network LLC now owns 597 shares of the oil and gas producer’s stock worth $36,000 after buying an additional 550 shares in the last quarter. Weiss Asset Management LP bought a new stake in Cimarex Energy during the first quarter valued at about $1,903,000. RR Advisors LLC bought a new stake in Cimarex Energy during the first quarter valued at about $2,535,000. Nvwm LLC boosted its position in Cimarex Energy by 462.0% during the first quarter. Nvwm LLC now owns 517 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 425 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in Cimarex Energy by 2.6% during the second quarter. CIBC Asset Management Inc now owns 11,011 shares of the oil and gas producer’s stock valued at $653,000 after purchasing an additional 275 shares in the last quarter. 96.14% of the stock is currently owned by institutional investors and hedge funds.
About Cimarex Energy (NYSE:XEC)
Cimarex Energy Co operates as an independent oil and gas exploration and production company primarily in Oklahoma, Texas, and New Mexico. As of December 31, 2018, it had a total proved reserves of 591.2 million barrels of oil equivalent, consisting of 1.59 trillion cubic feet of natural gas; 146.5 million barrels (MMBbls) of oil; and 179.4 MMBbls of natural gas liquids primarily located in the Permian Basin and Mid-Continent regions.
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