Cimarex Energy Co (XEC) Receives “Buy” Rating from Scotiabank
Several other research analysts also recently weighed in on the company. FBR & Co reduced their target price on Cimarex Energy from $174.00 to $166.00 and set an outperform rating for the company in a research note on Thursday. Canaccord Genuity reaffirmed a neutral rating on shares of Cimarex Energy in a research note on Thursday. Stifel Nicolaus raised their target price on Cimarex Energy from $155.00 to $170.00 and gave the stock a buy rating in a research note on Friday, February 3rd. KLR Group downgraded Cimarex Energy from an accumulate rating to a hold rating in a research note on Friday, January 20th. Finally, Jefferies Group LLC raised Cimarex Energy from an underperform rating to a hold rating and set a $131.00 target price for the company in a research note on Tuesday, January 17th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $136.82.
Cimarex Energy (NYSE:XEC) traded down 0.97% during midday trading on Thursday, hitting $133.06. 2,632,586 shares of the stock traded hands. Cimarex Energy has a 12 month low of $80.02 and a 12 month high of $146.96. The firm’s market cap is $12.64 billion. The company’s 50 day moving average price is $136.45 and its 200 day moving average price is $132.96.
Cimarex Energy (NYSE:XEC) last announced its earnings results on Wednesday, February 15th. The company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.05. Cimarex Energy had a negative return on equity of 0.59% and a negative net margin of 92.69%. Equities research analysts predict that Cimarex Energy will post $0.69 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 1st. Stockholders of record on Wednesday, February 15th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. The ex-dividend date is Monday, February 13th. Cimarex Energy’s payout ratio is presently -2.70%.
In other news, CEO Thomas E. Jorden sold 2,500 shares of Cimarex Energy stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $137.57, for a total value of $343,925.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Francis Brian Barron sold 2,000 shares of Cimarex Energy stock in a transaction dated Friday, December 2nd. The shares were sold at an average price of $138.86, for a total value of $277,720.00. Following the completion of the transaction, the senior vice president now owns 66,039 shares of the company’s stock, valued at approximately $9,170,175.54. The disclosure for this sale can be found here. Insiders sold a total of 11,512 shares of company stock valued at $1,597,294 in the last quarter. Company insiders own 2.00% of the company’s stock.
Several institutional investors have recently made changes to their positions in XEC. Point72 Asset Management L.P. boosted its position in shares of Cimarex Energy by 102.5% in the second quarter. Point72 Asset Management L.P. now owns 1,103,500 shares of the company’s stock valued at $131,670,000 after buying an additional 558,673 shares during the last quarter. Janus Capital Management LLC boosted its position in shares of Cimarex Energy by 172.1% in the fourth quarter. Janus Capital Management LLC now owns 468,089 shares of the company’s stock valued at $63,613,000 after buying an additional 296,060 shares during the last quarter. Encompass Capital Advisors LLC bought a new position in shares of Cimarex Energy during the second quarter valued at about $26,383,000. Artisan Partners Limited Partnership boosted its position in shares of Cimarex Energy by 16.1% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,508,234 shares of the company’s stock valued at $204,969,000 after buying an additional 209,280 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Cimarex Energy by 227.1% in the third quarter. First Trust Advisors LP now owns 271,264 shares of the company’s stock valued at $36,450,000 after buying an additional 188,333 shares during the last quarter. Institutional investors and hedge funds own 92.22% of the company’s stock.
About Cimarex Energy
Cimarex Energy Co is an independent oil and gas exploration and production company. The Company’s segment is exploration and production. Its operations are located mainly in Oklahoma, Texas and New Mexico. Its operations are focused in approximately two main areas, such as the Permian Basin and the Mid-Continent region.
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