Cimarex Energy (XEC) Upgraded by ValuEngine to Hold

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ValuEngine upgraded shares of Cimarex Energy (NYSE:XEC) from a sell rating to a hold rating in a research report report published on Wednesday.

Other analysts have also recently issued reports about the company. Stifel Nicolaus cut their price objective on Cimarex Energy from $187.00 to $186.00 and set a buy rating on the stock in a research report on Wednesday, May 9th. Williams Capital set a $138.00 price objective on Cimarex Energy and gave the company a buy rating in a research report on Wednesday, May 9th. UBS Group initiated coverage on Cimarex Energy in a research report on Wednesday, March 7th. They set a buy rating and a $118.00 price objective on the stock. Credit Suisse Group reaffirmed a buy rating and set a $129.00 price objective (down from $147.00) on shares of Cimarex Energy in a research report on Monday, March 5th. Finally, SunTrust Banks set a $130.00 price objective on Cimarex Energy and gave the company a buy rating in a research report on Monday, April 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $136.55.

Cimarex Energy opened at $100.48 on Wednesday, according to Marketbeat Ratings. The company has a current ratio of 1.49, a quick ratio of 1.40 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $9.08 billion, a P/E ratio of 21.61 and a beta of 1.18. Cimarex Energy has a 1 year low of $82.45 and a 1 year high of $130.16.

Cimarex Energy (NYSE:XEC) last posted its earnings results on Tuesday, May 8th. The oil and gas producer reported $1.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.09. The company had revenue of $567.10 million for the quarter, compared to analysts’ expectations of $568.46 million. Cimarex Energy had a return on equity of 20.67% and a net margin of 26.97%. Cimarex Energy’s quarterly revenue was up 26.8% on a year-over-year basis. During the same period last year, the firm earned $1.05 earnings per share. analysts anticipate that Cimarex Energy will post 7.13 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 31st. Stockholders of record on Wednesday, August 15th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Tuesday, August 14th. Cimarex Energy’s payout ratio is 13.76%.

In related news, Director Lisa A. Stewart purchased 722 shares of the firm’s stock in a transaction on Friday, June 1st. The shares were acquired at an average price of $89.98 per share, for a total transaction of $64,965.56. Following the purchase, the director now directly owns 6,576 shares in the company, valued at $591,708.48. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Thomas E. Jorden sold 2,500 shares of the business’s stock in a transaction on Wednesday, April 18th. The stock was sold at an average price of $100.00, for a total transaction of $250,000.00. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in XEC. Diamond Hill Capital Management Inc. raised its position in shares of Cimarex Energy by 18.1% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 5,083,427 shares of the oil and gas producer’s stock valued at $475,300,000 after buying an additional 780,604 shares in the last quarter. American Century Companies Inc. raised its position in shares of Cimarex Energy by 77.7% during the 1st quarter. American Century Companies Inc. now owns 1,563,826 shares of the oil and gas producer’s stock valued at $146,218,000 after buying an additional 684,012 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Cimarex Energy by 57.6% during the 1st quarter. Victory Capital Management Inc. now owns 1,782,820 shares of the oil and gas producer’s stock valued at $166,694,000 after buying an additional 651,255 shares in the last quarter. Old Mutual Global Investors UK Ltd. raised its position in shares of Cimarex Energy by 182.5% during the 1st quarter. Old Mutual Global Investors UK Ltd. now owns 871,590 shares of the oil and gas producer’s stock valued at $81,493,000 after buying an additional 563,016 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Cimarex Energy by 29.4% during the 1st quarter. Wells Fargo & Company MN now owns 1,948,829 shares of the oil and gas producer’s stock valued at $182,217,000 after buying an additional 442,696 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Cimarex Energy Company Profile

Cimarex Energy Co operates as an independent oil and gas exploration and production company primarily in Oklahoma, Texas, and New Mexico. As of December 31, 2017, it had a total proved oil and gas reserves of 3.35 trillion cubic feet equivalent (Tcfe) consisting of 1.61 trillion cubic feet of natural gas, 0.82 Tcfe of oil, and 0.92 Tcfe of natural gas liquids primarily located in the Mid-Continent and Permian Basin regions.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Cimarex Energy (NYSE:XEC)

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