Cimarex Energy Lowered to Market Perform at FBR Capital Markets (XEC)
Cimarex Energy (NYSE:XEC) was downgraded by equities research analysts at FBR Capital Markets from an “outperform” rating to a “market perform” rating in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports. They currently have a $120.00 price objective on the stock. FBR Capital Markets’ target price would suggest a potential upside of 13.40% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Barclays raised their price target on shares of Cimarex Energy from $92.00 to $121.00 in a research note to investors on Monday, October 21st. They now have an “overweight” rating on the stock. Separately, analysts at Canaccord Genuity raised their price target on shares of Cimarex Energy from $101.00 to $121.00 in a research note to investors on Monday, October 21st. They now have a “buy” rating on the stock. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $97.44.
Shares of Cimarex Energy (NYSE:XEC) traded up 0.30% on Wednesday, hitting $105.82. 567,323 shares of the company’s stock traded hands. Cimarex Energy has a 52 week low of $55.74 and a 52 week high of $92.18. The stock has a 50-day moving average of $81.92 and a 200-day moving average of $74.00. The company has a market cap of $9.154 billion and a price-to-earnings ratio of 22.74.
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 $5.54 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, December 2nd. Investors 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 0.53%. The ex-dividend date of this dividend 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.
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