Shares of Cimarex Energy Co (NYSE:XEC) have received an average recommendation of “Buy” from the twenty-five research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and eighteen have given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $130.89.
Several brokerages have weighed in on XEC. Credit Suisse Group downgraded Cimarex Energy from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 9th. Williams Capital reissued a “buy” rating and set a $134.00 target price on shares of Cimarex Energy in a research note on Wednesday, August 8th. Imperial Capital lowered their target price on shares of Cimarex Energy from $156.00 to $128.00 and set an “outperform” rating on the stock in a research note on Thursday, August 9th. Piper Jaffray Companies began coverage on shares of Cimarex Energy in a research note on Friday, September 28th. They set a “neutral” rating on the stock. Finally, Stifel Nicolaus set a $175.00 target price on shares of Cimarex Energy and gave the stock a “buy” rating in a research note on Tuesday, August 7th.
Shares of XEC opened at $88.03 on Friday. The stock has a market cap of $8.49 billion, a price-to-earnings ratio of 18.93 and a beta of 1.04. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.62 and a current ratio of 1.69. Cimarex Energy has a fifty-two week low of $77.63 and a fifty-two week high of $130.16.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings results on Tuesday, November 6th. The oil and gas producer reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.47. The company had revenue of $591.50 million for the quarter, compared to the consensus estimate of $561.67 million. Cimarex Energy had a return on equity of 23.33% and a net margin of 28.70%. The firm’s revenue for the quarter was up 27.6% compared to the same quarter last year. During the same period last year, the firm earned $1.09 EPS. On average, analysts expect that Cimarex Energy will post 7.18 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This is a positive change from Cimarex Energy’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a yield of 0.82%. Cimarex Energy’s dividend payout ratio (DPR) is currently 15.48%.
In related news, Director Lisa A. Stewart purchased 320 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The shares were purchased at an average cost of $84.05 per share, with a total value of $26,896.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.70% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Paloma Partners Management Co lifted its stake in Cimarex Energy by 20.4% in the 2nd quarter. Paloma Partners Management Co now owns 71,280 shares of the oil and gas producer’s stock valued at $7,252,000 after buying an additional 12,079 shares in the last quarter. Swiss National Bank lifted its stake in Cimarex Energy by 3.5% in the 2nd quarter. Swiss National Bank now owns 315,161 shares of the oil and gas producer’s stock valued at $32,064,000 after buying an additional 10,600 shares in the last quarter. Investec Asset Management LTD lifted its stake in Cimarex Energy by 173.1% in the 2nd quarter. Investec Asset Management LTD now owns 118,291 shares of the oil and gas producer’s stock valued at $12,035,000 after buying an additional 74,981 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in Cimarex Energy by 41.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 48,423 shares of the oil and gas producer’s stock valued at $4,927,000 after buying an additional 14,213 shares in the last quarter. Finally, Advanced Asset Management Advisors Inc purchased a new position in Cimarex Energy in the 2nd quarter valued at about $621,000. 98.47% of the stock is currently owned by hedge funds and other institutional investors.
Cimarex Energy Company Profile
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, 2017, it had a total proved oil and gas reserves of 3.35 trillion cubic feet equivalent (Tcfe) consisting of 1.61 trillion cubic feet of natural gas, 0.82 Tcfe of oil, and 0.92 Tcfe of natural gas liquids primarily located in the Mid-Continent and Permian Basin regions.
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