Cimarex Energy Co (NYSE:XEC) has received an average rating of “Hold” from the twenty-six ratings firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $139.89.
A number of equities research analysts have recently issued reports on XEC shares. KLR Group reissued a “buy” rating and issued a $151.00 target price (up previously from $149.00) on shares of Cimarex Energy in a research report on Wednesday, May 17th. Barclays PLC reissued an “overweight” rating and issued a $135.00 target price (up previously from $129.00) on shares of Cimarex Energy in a research report on Monday, May 15th. BMO Capital Markets set a $150.00 price objective on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Monday, May 15th. Citigroup Inc. reaffirmed a “buy” rating and set a $166.00 price objective (up previously from $164.00) on shares of Cimarex Energy in a research report on Saturday, April 22nd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $119.00 price objective on shares of Cimarex Energy in a research report on Thursday, July 6th.
Shares of Cimarex Energy (NYSE:XEC) opened at 93.86 on Friday. The company’s market capitalization is $8.77 billion. Cimarex Energy has a 12-month low of $89.49 and a 12-month high of $146.96. The company’s 50 day moving average is $94.55 and its 200 day moving average is $114.34.
Cimarex Energy (NYSE:XEC) last announced its earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.11. The company had revenue of $456.50 million during the quarter, compared to analysts’ expectations of $441.52 million. Cimarex Energy had a negative net margin of 7.78% and a positive return on equity of 9.03%. Cimarex Energy’s quarterly revenue was up 52.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.07 earnings per share. Analysts expect that Cimarex Energy will post $4.11 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.34%. The ex-dividend date is Friday, August 11th. Cimarex Energy’s payout ratio is presently -25.20%.
In other Cimarex Energy news, VP Stephen P. Bell sold 5,000 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $117.24, for a total transaction of $586,200.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Thomas E. Jorden sold 2,500 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $116.40, for a total value of $291,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 8,538 shares of company stock worth $1,001,760 over the last 90 days. Company insiders own 1.70% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Quadrature Capital Ltd boosted its position in shares of Cimarex Energy by 122.8% in the fourth quarter. Quadrature Capital Ltd now owns 12,125 shares of the oil and gas producer’s stock worth $1,648,000 after buying an additional 6,683 shares in the last quarter. Kentucky Retirement Systems purchased a new position in shares of Cimarex Energy during the fourth quarter worth about $936,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Cimarex Energy during the fourth quarter worth about $418,000. Chevy Chase Trust Holdings Inc. boosted its position in shares of Cimarex Energy by 3.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 82,166 shares of the oil and gas producer’s stock worth $9,818,000 after buying an additional 2,647 shares in the last quarter. Finally, Creative Planning boosted its position in shares of Cimarex Energy by 165.7% in the first quarter. Creative Planning now owns 6,013 shares of the oil and gas producer’s stock worth $718,000 after buying an additional 3,750 shares in the last quarter. Institutional investors own 93.07% of the company’s stock.
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About Cimarex Energy
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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