Cimarex Energy Given New $135.00 Price Target at FBR Capital Markets (XEC)
FBR Capital Markets boosted their price objective on shares of Cimarex Energy (NYSE:XEC) from $120.00 to $135.00 in a research note issued on Thursday. The firm currently has a “market perform” rating on the stock. FBR Capital Markets’ price target points to a potential downside of 4.47% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Topeka Capital Markets raised their price target on shares of Cimarex Energy from $130.00 to $146.00 in a research note on Tuesday. They now have a “hold” rating on the stock. Separately, analysts at Canaccord Genuity initiated coverage on shares of Cimarex Energy in a research note on Tuesday. They set a “buy” rating and a $169.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Cimarex Energy in a research note on Friday, June 27th. They now have a $156.00 price target on the stock, up previously from $114.00. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $143.24.
Shares of Cimarex Energy (NYSE:XEC) opened at 141.31 on Thursday. Cimarex Energy has a 1-year low of $67.02 and a 1-year high of $144.82. The stock’s 50-day moving average is $134.0 and its 200-day moving average is $116.5. The company has a market cap of $12.299 billion and a P/E ratio of 20.36.
Cimarex Energy (NYSE:XEC) last issued its quarterly 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 $6.77 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 2nd. Investors 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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