Cimarex Energy Given Overweight Rating at JPMorgan Chase & Co. (XEC)
Cimarex Energy (NYSE:XEC)‘s stock had its “overweight” rating restated by equities researchers at JPMorgan Chase & Co. in a research report issued on Friday. They currently have a $156.00 price target on the stock, up from their previous price target of $114.00. JPMorgan Chase & Co.’s price objective would indicate a potential upside of 9.41% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at GMP Securities initiated coverage on shares of Cimarex Energy in a research note on Tuesday. They set a “buy” rating and a $176.00 price target on the stock. Separately, analysts at Global Hunter Securities upgraded shares of Cimarex Energy from a “neutral” rating to a “buy” rating in a research note on Tuesday, June 17th. They now have a $175.00 price target on the stock, up previously from $116.00. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Cimarex Energy in a research note on Wednesday, June 11th. They now have a $142.00 price target on the stock, up previously from $132.00. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Cimarex Energy presently has an average rating of “Buy” and a consensus target price of $139.40.
In other Cimarex Energy news, CFO Paul Korus unloaded 4,516 shares of the company’s stock on the open market in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $138.05, for a total value of $623,433.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Cimarex Energy (NYSE:XEC) traded up 0.25% during mid-day trading on Friday, hitting $142.94. The stock had a trading volume of 187,164 shares. Cimarex Energy has a 1-year low of $64.99 and a 1-year high of $143.72. The stock’s 50-day moving average is $132.2 and its 200-day moving average is $114.8. The company has a market cap of $12.440 billion and a price-to-earnings ratio of 20.29.
Cimarex Energy (NYSE:XEC) last released its earnings data on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.52 by $0.15. The company had revenue of $599.20 million for the quarter, compared to the consensus estimate of $542.04 million. During the same quarter in the prior year, the company posted $1.06 earnings per share. The company’s quarterly revenue was up 40.5% on a year-over-year basis. Analysts expect that Cimarex Energy will post $6.79 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Wednesday, August 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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