Stifel Nicolaus set a $168.00 target price on Cimarex Energy Co (NYSE:XEC) in a research note published on Thursday, October 5th. The firm currently has a buy rating on the oil and gas producer’s stock.
Other research analysts have also issued research reports about the company. Scotiabank set a $143.00 target price on Cimarex Energy and gave the stock a buy rating in a research report on Saturday, July 1st. Williams Capital reaffirmed a buy rating and set a $136.00 price objective on shares of Cimarex Energy in a research report on Wednesday, August 9th. Citigroup Inc. reduced their price objective on Cimarex Energy from $135.00 to $120.00 and set a buy rating for the company in a research report on Friday, July 21st. Cowen and Company set a $135.00 price objective on Cimarex Energy and gave the company a buy rating in a research report on Friday, August 25th. 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. 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. Cimarex Energy presently has an average rating of Buy and an average price target of $135.05.
Shares of Cimarex Energy (NYSE:XEC) opened at 116.32 on Thursday. The stock’s 50 day moving average price is $108.67 and its 200 day moving average price is $105.94. Cimarex Energy has a 12-month low of $89.49 and a 12-month high of $146.96. The company has a market cap of $10.86 billion, a P/E ratio of 41.66 and a beta of 1.35.
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, topping the 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 analyst estimates of $441.52 million. During the same quarter in the prior year, the company earned $0.07 EPS. The business’s revenue was up 52.7% compared to the same quarter last year. On average, analysts forecast that Cimarex Energy will post $4.21 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. Cimarex Energy’s dividend payout ratio (DPR) is currently 12.03%.
In related news, CEO Thomas E. Jorden sold 2,500 shares of Cimarex Energy stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $101.67, for a total transaction of $254,175.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Harold R. Logan, Jr. sold 913 shares of Cimarex Energy stock in a transaction on Friday, September 15th. The shares were sold at an average price of $105.83, for a total value of $96,622.79. Following the transaction, the director now owns 9,299 shares in the company, valued at $984,113.17. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,299 shares of company stock worth $2,204,271. Company insiders own 1.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in XEC. UBS Asset Management Americas Inc. lifted its position in Cimarex Energy by 7.3% during the first quarter. UBS Asset Management Americas Inc. now owns 244,361 shares of the oil and gas producer’s stock valued at $29,199,000 after purchasing an additional 16,527 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Cimarex Energy by 3.2% during the first quarter. Pacer Advisors Inc. now owns 1,787 shares of the oil and gas producer’s stock valued at $214,000 after acquiring an additional 55 shares during the period. Stifel Financial Corp raised its holdings in Cimarex Energy by 13.3% during the first quarter. Stifel Financial Corp now owns 11,418 shares of the oil and gas producer’s stock valued at $1,366,000 after acquiring an additional 1,337 shares during the period. Credit Agricole S A raised its holdings in Cimarex Energy by 16.8% during the first quarter. Credit Agricole S A now owns 29,065 shares of the oil and gas producer’s stock valued at $3,473,000 after acquiring an additional 4,173 shares during the period. Finally, Laurion Capital Management LP bought a new stake in Cimarex Energy during the first quarter valued at about $299,000. Institutional investors own 90.06% of the company’s stock.
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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