Cimarex Energy Co (XEC) Price Target Increased to $141.00 by Analysts at Imperial Capital
Cimarex Energy Co (NYSE:XEC) had its price objective lifted by Imperial Capital from $135.00 to $141.00 in a report released on Thursday morning. They currently have an outperform rating on the oil and gas producer’s stock. Imperial Capital also issued estimates for Cimarex Energy’s Q4 2017 earnings at $1.12 EPS, FY2017 earnings at $4.48 EPS, Q1 2018 earnings at $1.41 EPS, Q2 2018 earnings at $1.43 EPS, Q3 2018 earnings at $1.45 EPS and Q4 2018 earnings at $1.71 EPS.
Several other analysts also recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Cimarex Energy from $138.00 to $168.00 and gave the stock an overweight rating in a research report on Wednesday, October 18th. Citigroup Inc. reduced their price target on shares of Cimarex Energy from $150.00 to $135.00 and set a buy rating for the company in a research report on Thursday, July 13th. Stifel Nicolaus reiterated a buy rating and issued a $169.00 price target on shares of Cimarex Energy in a research report on Friday, July 14th. KeyCorp reiterated a buy rating and issued a $130.00 price target on shares of Cimarex Energy in a research report on Friday, October 20th. Finally, Piper Jaffray Companies reduced their price target on shares of Cimarex Energy from $141.00 to $116.00 and set a neutral rating for the company in a research report on Monday, September 18th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company. Cimarex Energy has an average rating of Buy and an average target price of $135.81.
Shares of Cimarex Energy (NYSE:XEC) traded down $0.71 during trading hours on Thursday, hitting $125.05. 465,183 shares of the stock traded hands, compared to its average volume of 1,067,291. The stock has a market cap of $11,910.00, a P/E ratio of 32.98 and a beta of 1.35. The company has a quick ratio of 1.68, a current ratio of 1.51 and a debt-to-equity ratio of 0.62. Cimarex Energy has a twelve month low of $89.49 and a twelve month high of $146.96.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings data on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.12. The business had revenue of $463.68 million during the quarter, compared to the consensus estimate of $451.53 million. Cimarex Energy had a net margin of 20.45% and a return on equity of 16.11%. The company’s revenue was up 38.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 EPS. equities research analysts expect that Cimarex Energy will post 4.29 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be paid a dividend of $0.08 per share. The ex-dividend date is Tuesday, November 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.26%. Cimarex Energy’s dividend payout ratio (DPR) is presently 8.00%.
In related news, VP Joseph R. Albi sold 4,000 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $106.13, for a total value of $424,520.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director L Paul Teague sold 3,248 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $125.03, for a total transaction of $406,097.44. Following the completion of the sale, the director now owns 41,146 shares in the company, valued at $5,144,484.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,107 shares of company stock worth $2,918,092. Corporate insiders own 1.70% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in XEC. Renaissance Technologies LLC boosted its position in shares of Cimarex Energy by 16.6% in the 1st quarter. Renaissance Technologies LLC now owns 61,698 shares of the oil and gas producer’s stock worth $7,372,000 after buying an additional 8,800 shares in the last quarter. DnB Asset Management AS boosted its position in shares of Cimarex Energy by 12.9% in the 2nd quarter. DnB Asset Management AS now owns 13,959 shares of the oil and gas producer’s stock worth $1,312,000 after buying an additional 1,600 shares in the last quarter. Xact Kapitalforvaltning AB boosted its position in shares of Cimarex Energy by 17.0% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 8,339 shares of the oil and gas producer’s stock worth $784,000 after buying an additional 1,213 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Cimarex Energy in the 2nd quarter worth about $423,000. Finally, Capstone Asset Management Co. boosted its position in shares of Cimarex Energy by 7.5% in the 2nd quarter. Capstone Asset Management Co. now owns 6,464 shares of the oil and gas producer’s stock worth $608,000 after buying an additional 450 shares in the last quarter. Institutional investors and hedge funds own 90.85% of the company’s stock.
Cimarex Energy Company Profile
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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