Cimarex Energy (NYSE:XEC) had its price objective decreased by Citigroup from $85.00 to $75.00 in a report published on Monday morning, BenzingaRatingsTable reports. Citigroup currently has a buy rating on the oil and gas producer’s stock.
Other analysts have also issued research reports about the company. Morgan Stanley decreased their price objective on Cimarex Energy from $81.00 to $57.00 and set an overweight rating on the stock in a research note on Wednesday, August 14th. Robert W. Baird reaffirmed an outperform rating and set a $82.00 price objective (down previously from $110.00) on shares of Cimarex Energy in a research note on Wednesday, June 5th. Wells Fargo & Co increased their price objective on Cimarex Energy from $64.00 to $65.00 and gave the company a market perform rating in a research note on Friday, September 20th. Piper Jaffray Companies set a $68.00 price objective on Cimarex Energy and gave the company a hold rating in a research note on Friday, August 16th. Finally, SunTrust Banks set a $60.00 price objective on Cimarex Energy and gave the company a buy rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $75.67.
Shares of XEC stock opened at $46.72 on Monday. Cimarex Energy has a fifty-two week low of $37.19 and a fifty-two week high of $101.19. The stock has a market cap of $4.74 billion, a P/E ratio of 6.31 and a beta of 1.33. The business has a fifty day simple moving average of $43.77 and a 200-day simple moving average of $57.36. The company has a quick ratio of 0.57, a current ratio of 0.64 and a debt-to-equity ratio of 0.56.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings data on Monday, August 5th. The oil and gas producer reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.38). The company had revenue of $546.46 million for the quarter, compared to analyst estimates of $594.90 million. Cimarex Energy had a net margin of 25.66% and a return on equity of 16.59%. The firm’s revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.59 EPS. On average, sell-side analysts anticipate that Cimarex Energy will post 4.54 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Thursday, November 14th. Cimarex Energy’s payout ratio is 10.81%.
A number of large investors have recently modified their holdings of the business. Macquarie Group Ltd. boosted its stake in Cimarex Energy by 15.7% in the 2nd quarter. Macquarie Group Ltd. now owns 4,365 shares of the oil and gas producer’s stock worth $259,000 after buying an additional 592 shares during the last quarter. River & Mercantile Asset Management LLP acquired a new stake in Cimarex Energy in the 2nd quarter worth about $843,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Cimarex Energy in the 2nd quarter worth about $416,000. Atria Investments LLC boosted its stake in Cimarex Energy by 36.9% in the 2nd quarter. Atria Investments LLC now owns 5,989 shares of the oil and gas producer’s stock worth $240,000 after buying an additional 1,615 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in Cimarex Energy by 3.1% in the 2nd quarter. Treasurer of the State of North Carolina now owns 50,767 shares of the oil and gas producer’s stock worth $3,012,000 after buying an additional 1,530 shares during the last quarter. 96.08% of the stock is currently owned by hedge funds and other institutional investors.
Cimarex Energy Company Profile
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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