Cimarex Energy Co Announces Quarterly Dividend of $0.08 (XEC)
Cimarex Energy Co (NYSE:XEC) announced a quarterly dividend on Friday, September 1st, RTT News reports. Stockholders of record on Wednesday, November 15th will be paid a dividend of 0.08 per share by the oil and gas producer on Friday, December 1st. This represents a $0.32 annualized dividend and a dividend yield of 0.32%.
Cimarex Energy has decreased its dividend payment by an average of 9.5% per year over the last three years. Cimarex Energy has a dividend payout ratio of 7.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Cimarex Energy to earn $5.10 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 6.3%.
Shares of Cimarex Energy (XEC) traded up 1.77% during mid-day trading on Friday, hitting $101.45. 1,019,174 shares of the stock traded hands. Cimarex Energy has a 52 week low of $89.49 and a 52 week high of $146.96. The company has a market cap of $9.48 billion, a price-to-earnings ratio of 36.34 and a beta of 1.32. The stock has a 50-day moving average of $96.93 and a 200-day moving average of $109.27.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.11. Cimarex Energy had a net margin of 15.64% and a return on equity of 13.29%. The company had revenue of $456.50 million for the quarter, compared to analyst estimates of $441.52 million. During the same quarter in the prior year, the business posted $0.07 EPS. Cimarex Energy’s quarterly revenue was up 52.7% on a year-over-year basis. Analysts anticipate that Cimarex Energy will post $4.17 EPS for the current year.
In other news, SVP John Lambuth sold 2,136 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $99.84, for a total transaction of $213,258.24. Following the completion of the transaction, the senior vice president now directly owns 106,532 shares of the company’s stock, valued at approximately $10,636,154.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Joseph R. Albi sold 2,750 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $99.02, for a total transaction of $272,305.00. The disclosure for this sale can be found here. Insiders have sold a total of 7,386 shares of company stock valued at $739,738 over the last ninety days. 1.70% of the stock is owned by insiders.
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Several brokerages have recently commented on XEC. UBS AG restated a “neutral” rating and set a $134.00 price target (up previously from $131.00) on shares of Cimarex Energy in a research note on Friday, May 12th. Jefferies Group LLC set a $98.00 price target on shares of Cimarex Energy and gave the stock a “hold” rating in a research note on Tuesday. Scotiabank set a $143.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a research note on Saturday, July 1st. BidaskClub lowered shares of Cimarex Energy from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Finally, Cowen and Company set a $135.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a research note on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $136.40.
Cimarex Energy Company Profile
Cimarex Energy Co is an independent oil and gas exploration and production company. The Company operates in exploration and production (E&P) segment. Its operations are located in Oklahoma, Texas and New Mexico. Its E&P activities take place primarily in two areas: the Permian Basin and the Mid-Continent region.
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