Cimarex Energy Co (XEC) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Cimarex Energy Co (NYSE:XEC) have earned an average rating of “Buy” from the twenty-seven analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $144.32.

Several brokerages have recently weighed in on XEC. Jefferies Group set a $115.00 price target on shares of Cimarex Energy and gave the stock a “hold” rating in a research note on Thursday, November 16th. SunTrust Banks raised shares of Cimarex Energy from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a research note on Tuesday, February 6th. Capital One Financial reaffirmed an “overweight” rating on shares of Cimarex Energy in a research note on Wednesday, November 8th. Cowen set a $165.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a research note on Thursday, January 18th. Finally, 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, November 25th.

In related news, CEO Thomas E. Jorden sold 2,500 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $122.88, for a total value of $307,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lisa A. Stewart bought 248 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was purchased at an average cost of $112.06 per share, with a total value of $27,790.88. The disclosure for this purchase can be found here. Insiders sold 17,479 shares of company stock valued at $2,000,868 over the last three months. 1.70% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. boosted its position in Cimarex Energy by 1,015.9% during the fourth quarter. Assetmark Inc. now owns 982 shares of the oil and gas producer’s stock worth $120,000 after purchasing an additional 894 shares during the period. Advisor Group Inc. boosted its position in Cimarex Energy by 5.3% during the second quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock worth $113,000 after purchasing an additional 60 shares during the period. LMR Partners LLP bought a new position in Cimarex Energy during the fourth quarter worth $200,000. Eagle Ridge Investment Management bought a new position in Cimarex Energy during the fourth quarter worth $204,000. Finally, Capital Advisors Inc. OK bought a new position in Cimarex Energy during the fourth quarter worth $205,000. 93.28% of the stock is owned by hedge funds and other institutional investors.

Cimarex Energy (NYSE XEC) opened at $99.78 on Wednesday. The firm has a market cap of $9,611.82, a P/E ratio of 26.55 and a beta of 1.14. Cimarex Energy has a 52 week low of $89.49 and a 52 week high of $136.31. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.42 and a current ratio of 1.51.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be paid a $0.08 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.32%. Cimarex Energy’s dividend payout ratio is presently 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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