Cimarex Energy Co. (XEC) Given Consensus Recommendation of “Hold” by Analysts
Cimarex Energy Co. (NYSE:XEC) has been assigned a consensus recommendation of “Hold” from the twenty-nine brokerages that are covering the company. Two analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $121.33.
Several research firms have recently weighed in on XEC. FBR & Co began coverage on Cimarex Energy in a research report on Tuesday, September 13th. They issued an “outperform” rating and a $160.00 price objective for the company. Citigroup Inc. raised their target price on Cimarex Energy from $149.00 to $157.00 and gave the company a “buy” rating in a research note on Monday, September 12th. Stifel Nicolaus restated a “buy” rating on shares of Cimarex Energy in a research note on Wednesday, August 31st. Wells Fargo & Co. initiated coverage on Cimarex Energy in a research note on Wednesday, August 31st. They issued an “outperform” rating and a $150.00 target price for the company. Finally, Williams Capital initiated coverage on Cimarex Energy in a research note on Monday, August 29th. They issued a “hold” rating and a $143.00 target price for the company.
In related news, SVP Francis Brian Barron sold 500 shares of the company’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $135.54, for a total value of $67,770.00. Following the completion of the transaction, the senior vice president now directly owns 67,039 shares in the company, valued at $9,086,466.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas E. Jorden sold 2,500 shares of the company’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $131.19, for a total transaction of $327,975.00. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
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A number of hedge funds and other institutional investors have recently made changes to their positions in XEC. Geode Capital Management LLC raised its stake in Cimarex Energy by 2.4% in the first quarter. Geode Capital Management LLC now owns 772,277 shares of the company’s stock valued at $74,966,000 after buying an additional 18,291 shares during the last quarter. Wellington Management Group LLP raised its stake in Cimarex Energy by 36.8% in the first quarter. Wellington Management Group LLP now owns 1,912,324 shares of the company’s stock valued at $186,011,000 after buying an additional 514,536 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Cimarex Energy by 68.5% in the first quarter. Envestnet Asset Management Inc. now owns 13,066 shares of the company’s stock valued at $1,271,000 after buying an additional 5,310 shares during the last quarter. Shell Asset Management Co. raised its stake in Cimarex Energy by 106.5% in the second quarter. Shell Asset Management Co. now owns 27,330 shares of the company’s stock valued at $3,261,000 after buying an additional 14,095 shares during the last quarter. Finally, National Pension Service raised its stake in Cimarex Energy by 4.4% in the first quarter. National Pension Service now owns 68,422 shares of the company’s stock valued at $6,655,000 after buying an additional 2,908 shares during the last quarter. Institutional investors own 92.39% of the company’s stock.
Cimarex Energy (NYSE:XEC) traded down 1.21% during mid-day trading on Tuesday, reaching $139.45. The company’s stock had a trading volume of 259,618 shares. The firm has a 50 day moving average price of $131.72 and a 200 day moving average price of $118.94. The company’s market cap is $13.25 billion. Cimarex Energy has a 52-week low of $72.77 and a 52-week high of $142.07.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.18. Cimarex Energy had a negative return on equity of 2.41% and a negative net margin of 153.32%. The firm earned $298.90 million during the quarter, compared to analyst estimates of $279.22 million. During the same period last year, the company posted $0.15 EPS. The business’s quarterly revenue was down 29.6% on a year-over-year basis. Equities research analysts anticipate that Cimarex Energy will post $0.62 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, November 10th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.23%. Cimarex Energy’s dividend payout ratio (DPR) is currently -1.61%.
Cimarex Energy Company Profile
Cimarex Energy Co is an independent oil and gas exploration and production company. The Company’s segment is exploration and production. Its operations are located mainly in Oklahoma, Texas and New Mexico. Its operations are focused in approximately two main areas, such as the Permian Basin and the Mid-Continent region.
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