Barclays started coverage on shares of Cimarex Energy (NYSE:XEC) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm issued an equal weight rating and a $81.00 price objective on the oil and gas producer’s stock.
A number of other research analysts also recently issued reports on XEC. Jefferies Financial Group set a $117.00 price objective on shares of Cimarex Energy and gave the company a buy rating in a research report on Tuesday, November 20th. Morgan Stanley boosted their price objective on shares of Cimarex Energy from $124.00 to $127.00 and gave the company a buy rating in a research report on Tuesday, November 20th. Williams Capital set a $129.00 target price on shares of Cimarex Energy and gave the stock a buy rating in a research report on Monday, November 19th. MKM Partners started coverage on shares of Cimarex Energy in a research report on Wednesday, December 5th. They issued a buy rating and a $108.00 target price on the stock. Finally, JPMorgan Chase & Co. set a $88.00 target price on shares of Cimarex Energy and gave the stock a hold rating in a research report on Friday, December 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $119.76.
Shares of XEC opened at $74.74 on Wednesday. The company has a market capitalization of $7.00 billion, a PE ratio of 16.07 and a beta of 1.30. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.69 and a quick ratio of 1.62. Cimarex Energy has a fifty-two week low of $55.62 and a fifty-two week high of $127.13.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings data on Tuesday, November 6th. The oil and gas producer reported $1.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.52 by $0.47. Cimarex Energy had a net margin of 28.70% and a return on equity of 23.33%. The firm had revenue of $591.50 million during the quarter, compared to analyst estimates of $561.67 million. During the same period in the previous year, the business posted $1.09 EPS. The business’s quarterly revenue was up 27.6% on a year-over-year basis. Equities research analysts expect that Cimarex Energy will post 7.16 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 15th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Thursday, February 14th. Cimarex Energy’s dividend payout ratio (DPR) is currently 15.48%.
In related news, Director Michael J/Co Sullivan sold 1,492 shares of the firm’s stock in a transaction on Friday, December 14th. The shares were sold at an average price of $70.22, for a total value of $104,768.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.70% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Fulton Bank N.A. lifted its position in Cimarex Energy by 8.9% in the fourth quarter. Fulton Bank N.A. now owns 3,340 shares of the oil and gas producer’s stock worth $206,000 after buying an additional 274 shares during the last quarter. IFM Investors Pty Ltd increased its stake in shares of Cimarex Energy by 13.6% during the third quarter. IFM Investors Pty Ltd now owns 5,064 shares of the oil and gas producer’s stock valued at $471,000 after buying an additional 606 shares during the period. Toronto Dominion Bank increased its stake in shares of Cimarex Energy by 1.0% during the third quarter. Toronto Dominion Bank now owns 61,985 shares of the oil and gas producer’s stock valued at $5,759,000 after buying an additional 637 shares during the period. Sippican Capital Advisors increased its stake in shares of Cimarex Energy by 6.5% during the fourth quarter. Sippican Capital Advisors now owns 11,694 shares of the oil and gas producer’s stock valued at $721,000 after buying an additional 718 shares during the period. Finally, Belpointe Asset Management LLC increased its stake in shares of Cimarex Energy by 32.7% during the third quarter. Belpointe Asset Management LLC now owns 3,167 shares of the oil and gas producer’s stock valued at $294,000 after buying an additional 780 shares during the period. 98.23% of the stock is owned by hedge funds and other institutional investors.
About Cimarex Energy
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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