Cimarex Energy Co (XEC) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Cimarex Energy Co (NYSE:XEC) have been given a consensus rating of “Buy” by the twenty-six research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and sixteen have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $142.35.

XEC has been the subject of a number of research analyst reports. Williams Capital increased their target price on shares of Cimarex Energy from $132.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Citigroup reiterated a “buy” rating and issued a $120.00 target price on shares of Cimarex Energy in a research report on Friday, October 13th. KeyCorp reiterated a “buy” rating on shares of Cimarex Energy in a research report on Wednesday, November 8th. Stifel Nicolaus set a $168.00 target price on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Thursday, October 5th. Finally, Scotiabank set a $143.00 target price on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Saturday, November 25th.

In other news, VP Stephen P. Bell sold 3,696 shares of the stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $125.11, for a total transaction of $462,406.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director L Paul Teague sold 3,248 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $125.03, for a total transaction of $406,097.44. Following the transaction, the director now owns 41,146 shares in the company, valued at approximately $5,144,484.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,264 shares of company stock worth $3,804,134. 1.70% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue grew its stake in Cimarex Energy by 167.1% in the 4th quarter. State of Alaska Department of Revenue now owns 21,897 shares of the oil and gas producer’s stock valued at $2,670,000 after buying an additional 13,700 shares during the last quarter. Value Holdings Management CO. LLC grew its stake in Cimarex Energy by 32.6% in the 4th quarter. Value Holdings Management CO. LLC now owns 93,572 shares of the oil and gas producer’s stock valued at $11,416,000 after buying an additional 23,000 shares during the last quarter. McCollum Christoferson Group LLC acquired a new position in Cimarex Energy in the 4th quarter valued at $4,254,000. Fox Run Management L.L.C. grew its stake in Cimarex Energy by 57.4% in the 4th quarter. Fox Run Management L.L.C. now owns 5,980 shares of the oil and gas producer’s stock valued at $730,000 after buying an additional 2,180 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in Cimarex Energy by 3.0% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 414,377 shares of the oil and gas producer’s stock valued at $50,559,000 after buying an additional 12,231 shares during the last quarter. Institutional investors and hedge funds own 92.20% of the company’s stock.

Shares of Cimarex Energy (NYSE:XEC) opened at $124.04 on Friday. Cimarex Energy has a 12-month low of $89.49 and a 12-month high of $142.88. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.51 and a quick ratio of 1.42. The stock has a market cap of $11,873.32, a P/E ratio of 32.99 and a beta of 1.33.

Cimarex Energy (NYSE:XEC) last released its earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.12. Cimarex Energy had a net margin of 20.45% and a return on equity of 16.11%. The company had revenue of $463.68 million during the quarter, compared to the consensus estimate of $451.53 million. During the same quarter in the prior year, the firm earned $0.53 EPS. The company’s revenue was up 38.1% compared to the same quarter last year. equities analysts expect that Cimarex Energy will post 4.41 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be paid a dividend of $0.08 per share. The ex-dividend date is Wednesday, February 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.26%. Cimarex Energy’s dividend payout ratio (DPR) is 8.51%.

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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.

Analyst Recommendations for Cimarex Energy (NYSE:XEC)

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