Cimarex Energy’s “Buy” Rating Reaffirmed at Deutsche Bank (XEC)
Cimarex Energy (NYSE: XEC)‘s stock had its “buy” rating reiterated by equities research analysts at Deutsche Bank in a research note issued to investors on Friday. They currently have a $99.00 price target on the stock, up from their previous price target of $80.00.
XEC has been the subject of a number of other recent research reports. Analysts at FBR Capital downgraded shares of Cimarex Energy from an “outperform” rating to a “market perform” rating in a research note to investors on Wednesday. They now have a $72.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Susquehanna raised their price target on shares of Cimarex Energy from $64.00 to $78.00 in a research note to investors on Tuesday. Finally, analysts at JPMorgan Chase raised their price target on shares of Cimarex Energy to $79.00 in a research note to investors on Thursday, February 21st.
Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Cimarex Energy currently has a consensus rating of “Buy” and an average price target of $80.54.
Shares of Cimarex Energy (NYSE: XEC) traded up 2.15% during mid-day trading on Friday, hitting $75.89. Cimarex Energy has a 52 week low of $46.19 and a 52 week high of $79.69. The stock’s 50-day moving average is currently $68.57. The company has a market cap of $6.557 billion and a P/E ratio of 18.20.
Cimarex Energy (NYSE: XEC) last posted its quarterly earnings results on Tuesday, February 19th. The company reported $1.14 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.01 by $0.13. The company had revenue of $440.88 million for the quarter, compared to the consensus estimate of $430.23 million. During the same quarter in the prior year, the company posted $1.36 earnings per share. The company’s quarterly revenue was up 2.5% on a year-over-year basis. Analysts expect that Cimarex Energy will post $4.82 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 3rd. Investors of record on Wednesday, May 15th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Monday, May 13th. This is an increase from Cimarex Energy’s previous quarterly dividend of $0.12.
Cimarex Energy Co is an independent oil and gas exploration and production company. The Company’s exploration and development (NYSE: XEC) activities have been conducted primarily within two main areas: the Mid-Continent region and the Permian Basin.
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