Cimarex Energy (NYSE:XEC) had its price target decreased by Citigroup from $98.00 to $90.00 in a report published on Thursday, BenzingaRatingsTable reports. Citigroup currently has a buy rating on the oil and gas producer’s stock.
Other equities analysts have also issued research reports about the company. Capital One Financial raised Cimarex Energy from an equal weight rating to an overweight rating in a research report on Thursday, May 23rd. Imperial Capital reissued an outperform rating and set a $26.00 price objective (up previously from $24.00) on shares of Resideo Technologies in a research report on Friday, May 10th. Morgan Stanley set a $207.00 price objective on Alibaba Group and gave the company a buy rating in a research report on Friday, July 12th. Wells Fargo & Co lowered Occidental Petroleum from an outperform rating to a market perform rating in a research report on Monday, May 20th. Finally, SunTrust Banks raised their price objective on Perrigo to $51.00 and gave the company a hold rating in a research report on Monday, May 20th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Cimarex Energy currently has an average rating of Hold and an average price target of $94.95.
Shares of XEC stock opened at $49.41 on Thursday. The business has a fifty day simple moving average of $56.29. Cimarex Energy has a 52 week low of $47.96 and a 52 week high of $101.19. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of 6.68 and a beta of 1.31. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.66 and a quick ratio of 0.59.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings results on Wednesday, May 8th. The oil and gas producer reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.17). Cimarex Energy had a return on equity of 19.95% and a net margin of 26.90%. The business had revenue of $577.00 million during the quarter, compared to analysts’ expectations of $581.51 million. During the same period in the previous year, the business earned $1.82 EPS. The business’s revenue was up 1.7% compared to the same quarter last year. As a group, research analysts predict that Cimarex Energy will post 5.78 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, August 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.62%. Cimarex Energy’s payout ratio is presently 10.81%.
Several large investors have recently modified their holdings of XEC. Valeo Financial Advisors LLC increased its holdings in shares of Cimarex Energy by 319.8% during the second quarter. Valeo Financial Advisors LLC now owns 487 shares of the oil and gas producer’s stock valued at $29,000 after acquiring an additional 371 shares in the last quarter. Quantamental Technologies LLC bought a new position in shares of Cimarex Energy during the first quarter valued at $31,000. CSat Investment Advisory L.P. increased its holdings in shares of Cimarex Energy by 77.7% during the fourth quarter. CSat Investment Advisory L.P. now owns 549 shares of the oil and gas producer’s stock valued at $34,000 after acquiring an additional 240 shares in the last quarter. Nvwm LLC increased its holdings in shares of Cimarex Energy by 462.0% during the first quarter. Nvwm LLC now owns 517 shares of the oil and gas producer’s stock valued at $36,000 after acquiring an additional 425 shares in the last quarter. Finally, Bremer Bank National Association bought a new position in shares of Cimarex Energy during the first quarter valued at $48,000. Hedge funds and other institutional investors own 93.29% of the company’s stock.
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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