Cimarex Energy Co (NYSE:XEC) has been assigned an average recommendation of “Buy” from the twenty-seven brokerages that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $135.62.
A number of research firms have recently weighed in on XEC. Williams Capital reaffirmed a “buy” rating and set a $136.00 price target on shares of Cimarex Energy in a research note on Wednesday, August 9th. Jefferies Group LLC set a $98.00 price target on shares of Cimarex Energy and gave the stock a “hold” rating in a research note on Tuesday, August 29th. BidaskClub raised shares of Cimarex Energy from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Barclays PLC upped their price target on shares of Cimarex Energy from $112.00 to $117.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 15th. Finally, Imperial Capital began coverage on shares of Cimarex Energy in a research note on Tuesday, September 19th. They set an “outperform” rating and a $135.00 price target on the stock.
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Shares of Cimarex Energy (NYSE:XEC) opened at $122.53 on Monday. Cimarex Energy has a 12-month low of $89.49 and a 12-month high of $146.96. The company has a market cap of $11,674.42, a price-to-earnings ratio of 39.27 and a beta of 1.35. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.76 and a quick ratio of 1.68.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.11. The company had revenue of $456.50 million for the quarter, compared to analysts’ expectations of $441.52 million. Cimarex Energy had a net margin of 15.64% and a return on equity of 13.29%. Cimarex Energy’s revenue was up 52.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.07 EPS. equities analysts forecast that Cimarex Energy will post 4.3 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.26%. Cimarex Energy’s dividend payout ratio (DPR) is 12.03%.
In other news, Director Harold R. Logan, Jr. sold 913 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $105.83, for a total transaction of $96,622.79. Following the transaction, the director now directly owns 9,299 shares in the company, valued at approximately $984,113.17. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Joseph R. Albi sold 2,000 shares of the stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $106.16, for a total transaction of $212,320.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,299 shares of company stock worth $2,204,271. 1.70% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in XEC. Principal Financial Group Inc. lifted its holdings in shares of Cimarex Energy by 968.7% during the 2nd quarter. Principal Financial Group Inc. now owns 1,544,775 shares of the oil and gas producer’s stock worth $145,224,000 after acquiring an additional 1,400,223 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Cimarex Energy by 7,007.8% during the 2nd quarter. Janus Henderson Group PLC now owns 834,313 shares of the oil and gas producer’s stock worth $78,434,000 after acquiring an additional 822,575 shares during the period. APG Asset Management N.V. lifted its holdings in shares of Cimarex Energy by 274.1% during the 3rd quarter. APG Asset Management N.V. now owns 743,117 shares of the oil and gas producer’s stock worth $84,470,000 after acquiring an additional 544,465 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Cimarex Energy by 767.6% during the 2nd quarter. Renaissance Technologies LLC now owns 535,298 shares of the oil and gas producer’s stock worth $50,323,000 after acquiring an additional 473,600 shares during the period. Finally, BlackRock Inc. lifted its holdings in shares of Cimarex Energy by 5.2% during the 2nd quarter. BlackRock Inc. now owns 7,512,811 shares of the oil and gas producer’s stock worth $706,278,000 after acquiring an additional 371,390 shares during the period. 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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