Cimarex Energy PT Raised to $118.00 (XEC)
Deutsche Bank raised their price objective on shares of Cimarex Energy (NYSE:XEC) from $115.00 to $118.00 in a research note issued on Wednesday, American Banking & Market News reports. The firm currently has a “buy” rating on the stock. Deutsche Bank’s price target points to a potential upside of 18.51% from the company’s current price.
In other Cimarex Energy news, COO Joseph Albi unloaded 2,000 shares of the company’s stock on the open market in a transaction that occurred on 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 of the company’s stock, 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.
Other equities research analysts have also recently issued reports about the stock. 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. Separately, analysts at Raymond James upgraded shares of Cimarex Energy (NYSE:XEC) from a “market perform” rating to an “outperform” rating in a research note to investors on Monday, September 9th. Finally, analysts at Morgan Stanley upgraded shares of Cimarex Energy (NYSE:XEC) from an “equal weight” rating to an “overweight” rating in a research note to investors on Monday, September 9th. They now have a $105.00 price target on the stock, up previously from $79.00. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Cimarex Energy has an average rating of “Buy” and an average target price of $92.13.
Cimarex Energy (NYSE:XEC) traded up 0.62% on Wednesday, hitting $99.57. 944,927 shares of the company’s stock traded hands. Cimarex Energy has a one year low of $55.74 and a one year 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 price-to-earnings ratio of 21.33.
Cimarex Energy (NYSE:XEC) last announced its earnings results 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. Analysts expect that Cimarex Energy will post $5.41 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, December 2nd. Shareholders 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.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.