Cimarex Energy Co (XEC) Given Hold Rating at Piper Jaffray Companies
Piper Jaffray Companies reaffirmed their hold rating on shares of Cimarex Energy Co (NYSE:XEC) in a research report report published on Friday. The firm currently has a $118.00 target price on the oil and gas producer’s stock.
A number of other equities analysts have also weighed in on XEC. BidaskClub upgraded shares of Cimarex Energy from a strong sell rating to a sell rating in a research report on Monday, July 31st. Williams Capital restated a buy rating and set a $136.00 target price on shares of Cimarex Energy in a research report on Wednesday, August 9th. Morgan Stanley upped their target price on shares of Cimarex Energy from $135.00 to $138.00 and gave the stock an overweight rating in a research report on Thursday, August 10th. Barclays PLC upped their target price on shares of Cimarex Energy from $112.00 to $117.00 and gave the stock an overweight rating in a research report on Tuesday, August 15th. Finally, Stifel Nicolaus set a $169.00 target price on shares of Cimarex Energy and gave the stock a buy rating in a research report on Wednesday, August 16th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $137.14.
Cimarex Energy (NYSE XEC) opened at $116.52 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.42 and a current ratio of 1.51. Cimarex Energy has a 12-month low of $89.49 and a 12-month high of $146.96. The firm has a market cap of $10,994.06, a price-to-earnings ratio of 30.37 and a beta of 1.35.
Cimarex Energy (NYSE:XEC) last issued its earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share for the quarter, topping the Zacks’ 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 during the quarter, compared to analyst estimates of $451.53 million. During the same quarter in the prior year, the business earned $0.53 earnings per share. Cimarex Energy’s revenue for the quarter was up 38.1% on a year-over-year basis. analysts expect that Cimarex Energy will post 4.34 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend is Tuesday, November 14th. Cimarex Energy’s dividend payout ratio is currently 8.51%.
In other news, Director Harold R. Logan, Jr. sold 913 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $105.83, for a total value of $96,622.79. Following the sale, the director now owns 9,299 shares of the company’s stock, valued at $984,113.17. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Stephen P. Bell sold 2,500 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $102.54, for a total transaction of $256,350.00. The disclosure for this sale can be found here. In the last three months, insiders sold 30,448 shares of company stock worth $3,468,665. Insiders own 1.70% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Trust Co. of Vermont raised its stake in shares of Cimarex Energy by 6.9% in the third quarter. Trust Co. of Vermont now owns 26,240 shares of the oil and gas producer’s stock valued at $2,983,000 after acquiring an additional 1,692 shares during the period. Elliott Management Corp purchased a new stake in shares of Cimarex Energy in the second quarter valued at $288,000. South Dakota Investment Council purchased a new stake in shares of Cimarex Energy in the second quarter valued at $11,439,000. Calamos Advisors LLC raised its stake in shares of Cimarex Energy by 37.0% in the second quarter. Calamos Advisors LLC now owns 25,006 shares of the oil and gas producer’s stock valued at $2,351,000 after acquiring an additional 6,757 shares during the period. Finally, Public Employees Retirement System of Ohio raised its stake in shares of Cimarex Energy by 4.2% in the second quarter. Public Employees Retirement System of Ohio now owns 54,070 shares of the oil and gas producer’s stock valued at $5,083,000 after acquiring an additional 2,202 shares during the period. 93.44% of the stock is currently owned by institutional investors and hedge funds.
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About Cimarex Energy
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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