Cimarex Energy PT Raised to $112.00 (XEC)
Equities researchers at Societe Generale hoisted their target price on shares of Cimarex Energy (NYSE:XEC) from $82.00 to $112.00 in a research report issued on Wednesday, Analyst Ratings Network.com reports. The firm currently has a “buy” rating on the stock. Societe Generale’s price objective suggests a potential upside of 12.48% from the stock’s previous close.
Cimarex Energy (NYSE:XEC) traded up 0.62% during mid-day trading on Wednesday, hitting $99.57. The stock had a trading volume of 944,927 shares. Cimarex Energy has a 52 week low of $55.74 and a 52 week high of $100.87. The stock has a 50-day moving average of $87.78 and a 200-day moving average of $76.36. The company has a market cap of $8.613 billion and a P/E ratio of 21.33.
Cimarex Energy (NYSE:XEC) last released its earnings data on Wednesday, August 7th. The company reported $1.37 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.25 by $0.12. The company had revenue of $493.76 million for the quarter, compared to the consensus estimate of $467.55 million. During the same quarter last year, the company posted $0.79 earnings per share. Cimarex Energy’s revenue was up 39.8% compared to the same quarter last year. On average, analysts predict that Cimarex Energy will post $5.41 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, December 2nd. Investors of record on Friday, November 15th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Wednesday, November 13th.
In other Cimarex Energy news, COO Joseph Albi unloaded 2,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $95.48, for a total transaction of $190,960.00. Following the completion of the transaction, the chief operating officer now directly owns 92,633 shares in the company, valued at approximately $8,844,599. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of other firms have also recently commented on XEC. Analysts at Deutsche Bank raised their price target on shares of Cimarex Energy (NYSE:XEC) from $115.00 to $118.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at Canaccord Genuity initiated coverage on shares of Cimarex Energy (NYSE:XEC) in a research note to investors on Tuesday, September 10th. They set a “buy” rating and a $99.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $92.13.
Cimarex Energy Co is an oil and gas exploration and production company. Its operations are focused in two main areas: the Mid-Continent region and the Permian Basin.
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