Cimarex Energy Given New $110.00 Price Target at Cowen and Company (XEC)
Equities research analysts at Cowen and Company hoisted their target price on shares of Cimarex Energy (NYSE:XEC) from $80.00 to $110.00 in a research note issued to investors on Thursday, Analyst Ratings Net reports. The firm currently has an “outperform” rating on the stock. Cowen and Company’s price target indicates a potential upside of 11.65% from the stock’s previous close.
Shares of Cimarex Energy (NYSE:XEC) traded up 3.48% on Thursday, hitting $98.52. The stock had a trading volume of 1,062,225 shares. Cimarex Energy has a 52-week low of $55.74 and a 52-week high of $102.12. The stock has a 50-day moving average of $90.54 and a 200-day moving average of $77.17. The company has a market cap of $8.522 billion and a price-to-earnings ratio of 20.52.
Cimarex Energy (NYSE:XEC) last issued its quarterly 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. Stockholders 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 0.57%. 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 on the open market in a transaction dated Thursday, September 26th. The stock was sold at an average price of $95.48, for a total value of $190,960.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available at this link.
XEC has been the subject of a number of other recent research reports. Analysts at Societe Generale raised their price target on shares of Cimarex Energy from $82.00 to $112.00 in a research note to investors on Wednesday, October 2nd. They now have a “buy” rating on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of Cimarex Energy from $115.00 to $118.00 in a research note to investors on Wednesday, October 2nd. They now have a “buy” rating on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Cimarex Energy from $99.00 to $115.00 in a research note to investors on Monday, September 23rd. They now have a “buy” rating on the stock. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $94.00.
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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