Cimarex Energy Co (XEC) Given Average Rating of “Buy” by Brokerages
Shares of Cimarex Energy Co (NYSE:XEC) have received an average rating of “Buy” from the twenty-seven research firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $134.86.
XEC has been the subject of a number of recent analyst reports. Cowen and Company set a $135.00 price target on Cimarex Energy and gave the company a “buy” rating in a report on Friday, August 25th. Imperial Capital started coverage on Cimarex Energy in a research note on Tuesday, September 19th. They issued an “outperform” rating and a $135.00 target price for the company. Stifel Nicolaus reissued a “buy” rating on shares of Cimarex Energy in a research note on Wednesday, June 28th. Citigroup Inc. lowered their target price on Cimarex Energy from $150.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, July 13th. Finally, Morgan Stanley lifted their target price on Cimarex Energy from $135.00 to $138.00 and gave the company an “overweight” rating in a research note on Thursday, August 10th.
Cimarex Energy (NYSE XEC) opened at 115.50 on Thursday. The firm’s 50-day moving average price is $107.54 and its 200-day moving average price is $106.11. Cimarex Energy has a 12 month low of $89.49 and a 12 month high of $146.96. The firm has a market cap of $10.79 billion, a price-to-earnings ratio of 41.37 and a beta of 1.35.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.11. Cimarex Energy had a return on equity of 13.29% and a net margin of 15.64%. The firm had revenue of $456.50 million during the quarter, compared to analysts’ expectations of $441.52 million. During the same period last year, the firm posted $0.07 EPS. The business’s revenue was up 52.7% on a year-over-year basis. Equities research analysts predict that Cimarex Energy will post $4.18 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be issued a dividend of $0.08 per share. The ex-dividend date is Tuesday, November 14th. This represents a $0.32 annualized dividend and a yield of 0.28%. Cimarex Energy’s dividend payout ratio is presently 12.03%.
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In other Cimarex Energy news, CEO Thomas E. Jorden sold 2,500 shares of Cimarex Energy stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $101.67, for a total value of $254,175.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Joseph R. Albi sold 2,000 shares of Cimarex Energy stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $106.16, for a total value of $212,320.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,299 shares of company stock worth $2,204,271. Corporate insiders own 1.70% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue raised its stake in shares of Cimarex Energy by 0.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 1,427 shares of the oil and gas producer’s stock valued at $134,000 after purchasing an additional 10 shares during the period. Fisher Asset Management LLC raised its stake in shares of Cimarex Energy by 0.4% in the 2nd quarter. Fisher Asset Management LLC now owns 3,013 shares of the oil and gas producer’s stock valued at $283,000 after purchasing an additional 13 shares during the period. ING Groep NV raised its stake in shares of Cimarex Energy by 0.3% in the 2nd quarter. ING Groep NV now owns 4,878 shares of the oil and gas producer’s stock valued at $459,000 after purchasing an additional 17 shares during the period. Pacer Advisors Inc. raised its stake in shares of Cimarex Energy by 3.2% in the 1st quarter. Pacer Advisors Inc. now owns 1,787 shares of the oil and gas producer’s stock valued at $214,000 after purchasing an additional 55 shares during the period. Finally, Advisor Group Inc. raised its stake in shares of Cimarex Energy by 5.3% in the 2nd quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock valued at $113,000 after purchasing an additional 60 shares during the period. 90.25% of the stock is currently owned by hedge funds and other institutional investors.
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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