Cimarex Energy Co (XEC) Receives New Coverage from Analysts at Imperial Capital

Imperial Capital assumed coverage on shares of Cimarex Energy Co (NYSE:XEC) in a report published on Tuesday, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $135.00 price target on the oil and gas producer’s stock. Imperial Capital also issued estimates for Cimarex Energy’s Q3 2017 earnings at $0.82 EPS, Q4 2017 earnings at $0.92 EPS, FY2017 earnings at $4.14 EPS and FY2018 earnings at $5.51 EPS.

Other equities research analysts have also issued research reports about the company. Scotiabank set a $143.00 price objective on Cimarex Energy and gave the company a buy rating in a report on Saturday, July 1st. Barclays PLC lifted their price target on shares of Cimarex Energy from $112.00 to $117.00 and gave the company an overweight rating in a research report on Tuesday, August 15th. Stifel Nicolaus set a $169.00 price target on shares of Cimarex Energy and gave the company a buy rating in a research report on Wednesday, August 16th. BidaskClub downgraded shares of Cimarex Energy from a sell rating to a strong sell rating in a research report on Thursday, August 17th. Finally, Jefferies Group LLC set a $98.00 price target on shares of Cimarex Energy and gave the company a hold rating in a research report on Tuesday, August 29th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company. Cimarex Energy presently has a consensus rating of Buy and an average price target of $134.19.

Cimarex Energy (XEC) opened at 110.85 on Tuesday. The company has a 50-day moving average price of $99.58 and a 200-day moving average price of $106.74. 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 $10.35 billion, a PE ratio of 39.70 and a beta of 1.32.

Cimarex Energy (NYSE:XEC) last announced its quarterly earnings data 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 company had revenue of $456.50 million for the quarter, compared to analyst estimates of $441.52 million. During the same quarter in the previous year, the company earned $0.07 EPS. The firm’s revenue for the quarter was up 52.7% compared to the same quarter last year. On average, equities analysts predict that Cimarex Energy will post $4.17 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.29%. Cimarex Energy’s dividend payout ratio is presently 12.03%.

In other news, SVP John Lambuth sold 2,136 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $99.84, for a total transaction of $213,258.24. Following the completion of the sale, the senior vice president now directly owns 106,532 shares of the company’s stock, valued at approximately $10,636,154.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harold R. Logan, Jr. sold 913 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $105.83, for a total transaction of $96,622.79. Following the sale, the director now directly owns 9,299 shares of the company’s stock, valued at $984,113.17. The disclosure for this sale can be found here. Insiders have sold a total of 21,299 shares of company stock valued at $2,204,271 over the last three months. Corporate insiders own 1.70% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Cimarex Energy by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 9,899,309 shares of the oil and gas producer’s stock valued at $930,634,000 after buying an additional 64,420 shares during the period. BlackRock Inc. grew its stake in shares of Cimarex Energy by 5.2% during the 2nd quarter. BlackRock Inc. now owns 7,512,811 shares of the oil and gas producer’s stock valued at $706,278,000 after buying an additional 371,390 shares during the period. State Street Corp grew its stake in shares of Cimarex Energy by 3.0% during the 2nd quarter. State Street Corp now owns 5,458,745 shares of the oil and gas producer’s stock valued at $513,162,000 after buying an additional 157,612 shares during the period. FMR LLC grew its stake in shares of Cimarex Energy by 1.4% during the 2nd quarter. FMR LLC now owns 4,224,735 shares of the oil and gas producer’s stock valued at $397,166,000 after buying an additional 59,537 shares during the period. Finally, Diamond Hill Capital Management Inc. grew its stake in shares of Cimarex Energy by 8.2% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 4,063,310 shares of the oil and gas producer’s stock valued at $381,992,000 after buying an additional 307,581 shares during the period. 90.25% of the stock is owned by 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.

Analyst Recommendations for Cimarex Energy (NYSE:XEC)

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