Shares of Cimarex Energy Co (NYSE:XEC) have been assigned an average recommendation of “Hold” from the twenty-five analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $105.27.
Several equities research analysts have recently commented on the company. Williams Capital set a $104.00 price target on Cimarex Energy and gave the stock a “buy” rating in a research note on Tuesday, January 22nd. Morgan Stanley cut their price target on Cimarex Energy from $101.00 to $96.00 and set an “overweight” rating for the company in a research note on Thursday, March 21st. Capital One Financial cut Cimarex Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 20th. Evercore ISI cut Cimarex Energy from an “outperform” rating to an “in-line” rating in a research report on Tuesday, March 12th. Finally, Susquehanna Bancshares upgraded Cimarex Energy from a “neutral” rating to a “positive” rating and increased their price objective for the stock from $74.00 to $88.00 in a research report on Friday, February 8th.
In other Cimarex Energy news, Director Harold R. Logan, Jr. sold 990 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $70.00, for a total value of $69,300.00. Following the completion of the transaction, the director now owns 7,259 shares in the company, valued at $508,130. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.70% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in XEC. Teacher Retirement System of Texas increased its position in shares of Cimarex Energy by 61.9% in the fourth quarter. Teacher Retirement System of Texas now owns 18,182 shares of the oil and gas producer’s stock valued at $1,121,000 after buying an additional 6,949 shares in the last quarter. Addison Capital Co increased its position in shares of Cimarex Energy by 21.0% in the first quarter. Addison Capital Co now owns 20,333 shares of the oil and gas producer’s stock valued at $1,421,000 after buying an additional 3,524 shares in the last quarter. Yaupon Capital Management LP purchased a new position in shares of Cimarex Energy in the fourth quarter valued at $4,877,000. Legal & General Group Plc increased its position in shares of Cimarex Energy by 2.6% in the third quarter. Legal & General Group Plc now owns 427,288 shares of the oil and gas producer’s stock valued at $39,719,000 after buying an additional 11,003 shares in the last quarter. Finally, YHB Investment Advisors Inc. increased its position in shares of Cimarex Energy by 11.8% in the fourth quarter. YHB Investment Advisors Inc. now owns 33,756 shares of the oil and gas producer’s stock valued at $2,081,000 after buying an additional 3,560 shares in the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.
Shares of Cimarex Energy stock traded up $0.28 during trading hours on Tuesday, hitting $69.30. 1,102,194 shares of the company were exchanged, compared to its average volume of 1,412,658. Cimarex Energy has a 1 year low of $55.62 and a 1 year high of $103.91. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.01 and a quick ratio of 1.93. The stock has a market capitalization of $7.03 billion, a PE ratio of 9.36 and a beta of 1.33.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings results on Wednesday, February 20th. The oil and gas producer reported $1.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.75 by $0.23. Cimarex Energy had a return on equity of 23.51% and a net margin of 33.85%. The business had revenue of $624.10 million during the quarter, compared to analysts’ expectations of $620.20 million. During the same quarter in the prior year, the business earned $1.47 earnings per share. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Cimarex Energy will post 6.22 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be given a $0.20 dividend. This is a boost from Cimarex Energy’s previous quarterly dividend of $0.18. The ex-dividend date is Tuesday, May 14th. This represents a $0.80 annualized dividend and a yield of 1.15%. Cimarex Energy’s dividend payout ratio is presently 9.73%.
About Cimarex Energy
Cimarex Energy Co operates as an independent oil and gas exploration and production company primarily in Oklahoma, Texas, and New Mexico. As of December 31, 2018, it had a total proved reserves of 591.2 million barrels of oil equivalent, consisting of 1.59 trillion cubic feet of natural gas; 146.5 million barrels (MMBbls) of oil; and 179.4 MMBbls of natural gas liquids primarily located in the Permian Basin and Mid-Continent regions.
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