Cimarex Energy Co (XEC) to Issue Quarterly Dividend of $0.08
Cimarex Energy Co (NYSE:XEC) declared a quarterly dividend on Friday, September 1st, RTT News reports. Investors of record on Wednesday, November 15th will be given a dividend of 0.08 per share by the oil and gas producer on Friday, December 1st. This represents a $0.32 annualized dividend and a yield of 0.32%.
Cimarex Energy has decreased its dividend payment by an average of 9.5% per year over the last three years. Cimarex Energy has a payout ratio of 7.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cimarex Energy to earn $5.31 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 6.0%.
Cimarex Energy (NYSE XEC) opened at 101.45 on Friday. The company’s 50-day moving average price is $97.17 and its 200 day moving average price is $109.04. The firm has a market capitalization of $9.48 billion, a price-to-earnings ratio of 36.34 and a beta of 1.32. Cimarex Energy has a 52-week low of $89.49 and a 52-week high of $146.96.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $1.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.11. The business had revenue of $456.50 million for the quarter, compared to the consensus estimate of $441.52 million. Cimarex Energy had a return on equity of 13.29% and a net margin of 15.64%. The firm’s revenue was up 52.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 EPS. Equities analysts predict that Cimarex Energy will post $4.17 earnings per share for the current fiscal year.
Several analysts recently commented on the company. Williams Capital raised Cimarex Energy from a “hold” rating to a “buy” rating and raised their price objective for the stock from $148.00 to $160.00 in a research note on Monday, May 15th. They noted that the move was a valuation call. UBS AG reaffirmed a “neutral” rating and set a $134.00 price objective (up previously from $131.00) on shares of Cimarex Energy in a research note on Friday, May 12th. Scotiabank set a $143.00 price objective on Cimarex Energy and gave the stock a “buy” rating in a research note on Saturday, July 1st. Barclays PLC raised their price objective on Cimarex Energy from $112.00 to $117.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 15th. Finally, Stifel Nicolaus set a $169.00 price objective on Cimarex Energy and gave the stock a “buy” rating in a research note on Wednesday, August 16th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $136.40.
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In related news, VP Joseph R. Albi sold 2,750 shares of Cimarex Energy stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $99.02, for a total transaction of $272,305.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas E. Jorden sold 2,500 shares of Cimarex Energy stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $101.67, for a total value of $254,175.00. The disclosure for this sale can be found here. Insiders have sold 7,386 shares of company stock valued at $739,738 in the last quarter. 1.70% of the stock is currently owned by corporate insiders.
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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