SunTrust Banks, Inc. Raises Cimarex Energy Co (XEC) Price Target to $127.00
Cimarex Energy Co (NYSE:XEC) had its price objective raised by SunTrust Banks, Inc. to $127.00 in a research note issued to investors on Thursday, The Fly reports. They currently have a hold rating on the oil and gas producer’s stock. SunTrust Banks also issued estimates for Cimarex Energy’s FY2018 earnings at $5.15 EPS.
Other equities analysts also recently issued research reports about the stock. Citigroup Inc. cut their price objective on shares of Cimarex Energy from $135.00 to $120.00 and set a buy rating on the stock in a report on Friday, July 21st. Stifel Nicolaus restated a buy rating and set a $169.00 price objective on shares of Cimarex Energy in a report on Friday, July 14th. Williams Capital restated a buy rating and set a $136.00 price objective on shares of Cimarex Energy in a report on Wednesday, August 9th. Cowen and Company set a $135.00 price target on shares of Cimarex Energy and gave the stock a buy rating in a report on Friday, August 25th. Finally, KeyCorp reiterated a buy rating and issued a $130.00 price target on shares of Cimarex Energy in a report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $135.81.
Shares of Cimarex Energy (XEC) traded down $0.71 during trading on Thursday, reaching $125.05. 465,500 shares of the company’s stock were exchanged, compared to its average volume of 826,780. Cimarex Energy has a fifty-two week low of $89.49 and a fifty-two week high of $146.96. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.51 and a quick ratio of 1.68. The company has a market capitalization of $11,912.39, a P/E ratio of 32.91 and a beta of 1.35.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings data on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $451.53 million. During the same quarter in the prior year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was up 38.1% compared to the same quarter last year. equities research analysts predict that Cimarex Energy will post 4.31 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.26%. The ex-dividend date is Tuesday, November 14th. Cimarex Energy’s dividend payout ratio is currently 8.51%.
In related news, VP Stephen P. Bell sold 2,500 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $102.54, for a total value of $256,350.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joseph R. Albi sold 2,750 shares of the stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $99.02, for a total value of $272,305.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,107 shares of company stock valued at $2,918,092. 1.70% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN increased its stake in shares of Cimarex Energy by 172.6% in the 3rd quarter. Wells Fargo & Company MN now owns 1,352,468 shares of the oil and gas producer’s stock worth $153,734,000 after acquiring an additional 856,274 shares during the last quarter. Zeke Capital Advisors LLC acquired a new stake in shares of Cimarex Energy in the 3rd quarter worth $358,000. Farr Miller & Washington LLC DC acquired a new stake in shares of Cimarex Energy in the 3rd quarter worth $227,000. Schroder Investment Management Group increased its stake in shares of Cimarex Energy by 24.5% in the 3rd quarter. Schroder Investment Management Group now owns 954,549 shares of the oil and gas producer’s stock worth $109,057,000 after acquiring an additional 187,956 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Cimarex Energy by 3.7% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,381 shares of the oil and gas producer’s stock worth $2,203,000 after acquiring an additional 683 shares during the last quarter. 90.85% of the stock is owned by institutional investors and hedge funds.
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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