Jefferies Group set a $117.00 price objective on Cimarex Energy (NYSE:XEC) in a research report report published on Wednesday, December 20th. The brokerage currently has a hold rating on the oil and gas producer’s stock. Jefferies Group also issued estimates for Cimarex Energy’s FY2017 earnings at $4.67 EPS, Q1 2019 earnings at $2.11 EPS, Q2 2019 earnings at $2.11 EPS and Q3 2019 earnings at $2.21 EPS.
Several other brokerages have also commented on XEC. KeyCorp reissued a buy rating on shares of Cimarex Energy in a research report on Wednesday, November 8th. Capital One Financial reaffirmed an overweight rating on shares of Cimarex Energy in a research report on Wednesday, November 8th. UBS Group lowered Cimarex Energy from a positive rating to a neutral rating in a research report on Monday, November 13th. Susquehanna Bancshares lowered Cimarex Energy from a positive rating to a neutral rating in a research report on Monday, November 13th. Finally, SunTrust Banks lifted their price target on Cimarex Energy to $127.00 and gave the stock a hold rating in a research report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $136.55.
Shares of Cimarex Energy (XEC) traded down $0.51 during trading on Wednesday, hitting $127.14. 1,458,200 shares of the stock traded hands, compared to its average volume of 776,125. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.51 and a quick ratio of 1.42. Cimarex Energy has a 1 year low of $89.49 and a 1 year high of $144.30. The company has a market capitalization of $12,160.05, a PE ratio of 33.81 and a beta of 1.33.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.12. The business had revenue of $463.68 million for the quarter, compared to analysts’ expectations of $451.53 million. Cimarex Energy had a net margin of 20.45% and a return on equity of 16.11%. The firm’s revenue for the quarter was up 38.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 earnings per share. analysts forecast that Cimarex Energy will post 4.41 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.32 annualized dividend and a yield of 0.25%. Cimarex Energy’s payout ratio is 8.51%.
In other news, CEO Thomas E. Jorden sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $122.88, for a total transaction of $307,200.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Joseph R. Albi sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $113.75, for a total value of $113,750.00. The disclosure for this sale can be found here. Insiders sold a total of 32,264 shares of company stock valued at $3,804,134 over the last 90 days. 1.70% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. DnB Asset Management AS grew its position in Cimarex Energy by 5.1% in the 4th quarter. DnB Asset Management AS now owns 14,359 shares of the oil and gas producer’s stock valued at $1,752,000 after acquiring an additional 700 shares during the last quarter. Atlantic Trust Group LLC bought a new position in Cimarex Energy in the 3rd quarter valued at $6,645,000. Parametric Portfolio Associates LLC grew its position in Cimarex Energy by 37.9% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 258,902 shares of the oil and gas producer’s stock valued at $29,429,000 after acquiring an additional 71,140 shares during the last quarter. Optimum Investment Advisors bought a new position in shares of Cimarex Energy during the 3rd quarter worth $281,000. Finally, Belpointe Asset Management LLC bought a new position in shares of Cimarex Energy during the 3rd quarter worth $311,000. Institutional investors own 92.00% of the company’s stock.
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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