SunTrust Banks upgraded shares of Cimarex Energy (NYSE:XEC) from a hold rating to a buy rating in a research note published on Tuesday morning, Marketbeat.com reports. The brokerage currently has $140.00 price objective on the oil and gas producer’s stock. SunTrust Banks also issued estimates for Cimarex Energy’s Q4 2017 earnings at $1.32 EPS, FY2017 earnings at $4.52 EPS, FY2018 earnings at $7.23 EPS, FY2019 earnings at $8.83 EPS and FY2020 earnings at $11.20 EPS.

XEC has been the subject of several other reports. Jefferies Group set a $115.00 target price on Cimarex Energy and gave the company a hold rating in a report on Thursday, November 16th. Capital One Financial reissued an overweight rating on shares of Cimarex Energy in a report on Wednesday, November 8th. Cowen set a $165.00 target price on Cimarex Energy and gave the company a buy rating in a report on Thursday, January 18th. Scotiabank set a $143.00 target price on Cimarex Energy and gave the company a buy rating in a report on Saturday, November 25th. Finally, Robert W. Baird began coverage on Cimarex Energy in a report on Tuesday, December 19th. They issued an outperform rating and a $137.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have issued a buy rating to the company. Cimarex Energy presently has a consensus rating of Buy and a consensus price target of $141.38.

Cimarex Energy (NYSE XEC) opened at $100.19 on Tuesday. The stock has a market capitalization of $10,089.08, a PE ratio of 26.65 and a beta of 1.14. Cimarex Energy has a 1 year low of $89.49 and a 1 year high of $136.31. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.62.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend is Wednesday, February 14th. Cimarex Energy’s dividend payout ratio is presently 8.51%.

In related news, Director Lisa A. Stewart acquired 248 shares of Cimarex Energy stock in a transaction on Friday, December 8th. The stock was purchased at an average cost of $112.06 per share, with a total value of $27,790.88. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Krista L. Johnson sold 5,341 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $116.46, for a total value of $622,012.86. Following the transaction, the vice president now directly owns 42,938 shares of the company’s stock, valued at $5,000,559.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,820 shares of company stock valued at $2,622,880. 1.70% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the company. IFM Investors Pty Ltd purchased a new position in shares of Cimarex Energy during the 3rd quarter worth approximately $330,000. Trust Co. of Vermont raised its stake in shares of Cimarex Energy by 6.9% during the 3rd quarter. Trust Co. of Vermont now owns 26,240 shares of the oil and gas producer’s stock worth $2,983,000 after buying an additional 1,692 shares in the last quarter. Commerce Bank raised its stake in shares of Cimarex Energy by 28.7% during the 3rd quarter. Commerce Bank now owns 4,482 shares of the oil and gas producer’s stock worth $510,000 after buying an additional 1,000 shares in the last quarter. Colony Group LLC raised its stake in shares of Cimarex Energy by 38.7% during the 3rd quarter. Colony Group LLC now owns 22,154 shares of the oil and gas producer’s stock worth $2,518,000 after buying an additional 6,177 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Cimarex Energy by 8.2% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 402,146 shares of the oil and gas producer’s stock worth $45,712,000 after buying an additional 30,646 shares in the last quarter. 92.34% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Cimarex Energy (NYSE:XEC)

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