Canaccord Genuity Increases Cimarex Energy Price Target to $121.00 (XEC)
Investment analysts at Canaccord Genuity increased their price target on shares of Cimarex Energy (NYSE:XEC) from $101.00 to $121.00 in a note issued to investors on Monday, American Banking and Market News reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s price target would suggest a potential upside of 9.57% from the company’s current price.
Cimarex Energy (NYSE:XEC) traded up 1.43% on Monday, hitting $112.01. The stock had a trading volume of 161,961 shares. Cimarex Energy has a 52 week low of $55.74 and a 52 week high of $110.66. The stock has a 50-day moving average of $94.76 and a 200-day moving average of $78.53. The company has a market cap of $9.689 billion and a price-to-earnings ratio of 23.80.
Cimarex Energy (NYSE:XEC) last released its 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 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.
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 0.51%. The ex-dividend date is Wednesday, November 13th.
A number of other firms have also recently commented on XEC. Analysts at Susquehanna raised their price target on shares of Cimarex Energy from $88.00 to $94.00 in a research note to investors on Wednesday, October 16th. Separately, analysts at Robert W. Baird initiated coverage on shares of Cimarex Energy in a research note to investors on Wednesday, October 16th. They set a “neutral” rating and a $98.00 price target on the stock. Finally, analysts at Raymond James raised their price target on shares of Cimarex Energy from $94.00 to $106.00 in a research note to investors on Monday, October 14th. They now have an “outperform” 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 stock currently has an average rating of “Buy” and a consensus target price of $96.94.
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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