Susquehanna Bancshares Inc cut shares of Cimarex Energy Co (NYSE:XEC) from a positive rating to a neutral rating in a research note issued to investors on Monday, MarketBeat.com reports.
Other equities research analysts have also recently issued reports about the stock. KeyCorp reiterated a buy rating on shares of Cimarex Energy in a report on Wednesday, November 8th. Capital One Financial Corporation reissued an overweight rating on shares of Cimarex Energy in a research report on Wednesday, November 8th. UBS AG lowered shares of Cimarex Energy from a positive rating to a neutral rating in a research report on Monday. Imperial Capital upped their price objective on shares of Cimarex Energy from $135.00 to $141.00 and gave the company an outperform rating in a research report on Thursday, November 9th. Finally, SunTrust Banks, Inc. upped their price objective on shares of Cimarex Energy to $127.00 and gave the company a hold rating in a research report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $136.62.
Cimarex Energy (NYSE:XEC) traded up $0.08 during midday trading on Monday, hitting $115.61. The company’s stock had a trading volume of 867,100 shares, compared to its average volume of 1,068,103. The company has a market capitalization of $11,130.00, a PE ratio of 30.40 and a beta of 1.35. Cimarex Energy has a 52 week low of $89.49 and a 52 week high of $146.96. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.51 and a quick ratio of 1.42.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings data on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.12. Cimarex Energy had a net margin of 20.45% and a return on equity of 16.11%. The firm had revenue of $463.68 million for the quarter, compared to analysts’ expectations of $451.53 million. During the same period in the previous year, the company posted $0.53 EPS. The company’s quarterly revenue was up 38.1% compared to the same quarter last year. sell-side analysts predict that Cimarex Energy will post 4.31 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend is Tuesday, November 14th. Cimarex Energy’s payout ratio is 8.00%.
In related news, CEO Thomas E. Jorden sold 2,500 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $125.10, for a total transaction of $312,750.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Joseph R. Albi sold 4,000 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $106.13, for a total transaction of $424,520.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,107 shares of company stock worth $2,918,092. Insiders own 1.70% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in XEC. Renaissance Technologies LLC lifted its position in shares of Cimarex Energy by 16.6% during the 1st quarter. Renaissance Technologies LLC now owns 61,698 shares of the oil and gas producer’s stock valued at $7,372,000 after acquiring an additional 8,800 shares during the period. Xact Kapitalforvaltning AB raised its holdings in Cimarex Energy by 17.0% during the second quarter. Xact Kapitalforvaltning AB now owns 8,339 shares of the oil and gas producer’s stock worth $784,000 after buying an additional 1,213 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Cimarex Energy during the second quarter worth $423,000. Capstone Asset Management Co. raised its holdings in Cimarex Energy by 7.5% during the second quarter. Capstone Asset Management Co. now owns 6,464 shares of the oil and gas producer’s stock worth $608,000 after buying an additional 450 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in Cimarex Energy by 192.6% during the second quarter. Bank of Montreal Can now owns 151,333 shares of the oil and gas producer’s stock worth $14,227,000 after buying an additional 99,612 shares during the last quarter. Institutional investors own 91.05% 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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