Cimarex Energy Price Target Increased to $96.00 by Analysts at Topeka Capital Markets (XEC)
Stock analysts at Topeka Capital Markets raised their price target on shares of Cimarex Energy (NYSE:XEC) from $84.00 to $96.00 in a report issued on Thursday, Analyst Ratings Network reports. The firm currently has a “hold” rating on the stock. Topeka Capital Markets’ price target points to a potential downside of 2.56% from the company’s current price.
Shares of Cimarex Energy (NYSE:XEC) traded up 3.48% during mid-day trading on Thursday, hitting $98.52. 1,062,225 shares of the company’s stock traded hands. Cimarex Energy has a 1-year low of $55.74 and a 1-year 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 P/E 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 (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.79 earnings per share. The company’s revenue for the quarter was up 39.8% on a year-over-year basis. Analysts expect that Cimarex Energy will post $5.41 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, December 2nd. Stockholders of record on Friday, November 15th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Wednesday, November 13th.
Several other analysts have also recently commented on the stock. Analysts at Cowen and Company raised their price target on shares of Cimarex Energy from $80.00 to $110.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Separately, 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. Finally, 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. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $94.00.
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 transaction, the chief operating officer now directly owns 92,633 shares in the company, valued at approximately $8,844,599. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
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.