Cimarex Energy (XEC) Cut to “Neutral” at Susquehanna Bancshares

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Susquehanna Bancshares cut shares of Cimarex Energy (NYSE:XEC) from a positive rating to a neutral rating in a research note issued to investors on Monday.

Other equities research analysts have also recently issued research reports about the stock. Imperial Capital reaffirmed an in-line rating on shares of Cimarex Energy in a research report on Tuesday, November 20th. Jefferies Financial Group set a $117.00 target price on shares of Cimarex Energy and gave the stock a buy rating in a report on Tuesday, November 20th. Ifs Securities reissued a market perform rating on shares of Cimarex Energy in a report on Sunday, February 3rd. Williams Capital set a $129.00 target price on shares of Cimarex Energy and gave the stock a buy rating in a report on Wednesday, November 7th. Finally, ValuEngine cut shares of Cimarex Energy from a sell rating to a strong sell rating in a report on Tuesday, October 23rd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $112.19.

XEC opened at $74.31 on Monday. Cimarex Energy has a twelve month low of $55.62 and a twelve month high of $103.91. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.69 and a quick ratio of 1.62. The stock has a market cap of $7.16 billion, a P/E ratio of 15.98 and a beta of 1.45.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 15th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Thursday, February 14th. Cimarex Energy’s dividend payout ratio is presently 15.48%.

In other Cimarex Energy news, Director Michael J/Co Sullivan sold 1,492 shares of the stock in a transaction that occurred on Friday, December 14th. The shares were sold at an average price of $70.22, for a total transaction of $104,768.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.70% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. American International Group Inc. increased its position in Cimarex Energy by 2.6% during the 3rd quarter. American International Group Inc. now owns 58,547 shares of the oil and gas producer’s stock valued at $5,441,000 after purchasing an additional 1,483 shares during the period. Legal & General Group Plc grew its position in shares of Cimarex Energy by 2.6% during the 3rd quarter. Legal & General Group Plc now owns 427,288 shares of the oil and gas producer’s stock worth $39,719,000 after buying an additional 11,003 shares during the period. YHB Investment Advisors Inc. grew its position in shares of Cimarex Energy by 11.8% during the 4th quarter. YHB Investment Advisors Inc. now owns 33,756 shares of the oil and gas producer’s stock worth $2,081,000 after buying an additional 3,560 shares during the period. Unigestion Holding SA acquired a new stake in shares of Cimarex Energy during the 3rd quarter worth approximately $17,579,000. Finally, Tobam grew its position in shares of Cimarex Energy by 636.7% during the 3rd quarter. Tobam now owns 129,060 shares of the oil and gas producer’s stock worth $11,995,000 after buying an additional 111,542 shares during the period. 99.61% of the stock is owned by institutional investors and hedge funds.

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.

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