Seaport Global Securities upgraded shares of Cimarex Energy (NYSE:XEC) from a sell rating to a buy rating in a research report released on Tuesday, December 19th, Marketbeat Ratings reports. Seaport Global Securities also issued estimates for Cimarex Energy’s Q4 2017 earnings at $1.35 EPS, FY2017 earnings at $4.55 EPS, Q1 2018 earnings at $1.54 EPS, Q2 2018 earnings at $1.73 EPS, Q3 2018 earnings at $1.83 EPS, Q4 2018 earnings at $1.92 EPS and FY2018 earnings at $7.02 EPS.
XEC has been the topic of a number of other research reports. Robert W. Baird assumed coverage on shares of Cimarex Energy in a report on Tuesday, December 19th. They set an outperform rating and a $137.00 price target on the stock. Credit Suisse Group assumed coverage on shares of Cimarex Energy in a report on Monday, December 11th. They issued an outperform rating and a $140.00 target price on the stock. Scotiabank set a $143.00 target price on shares of Cimarex Energy and gave the stock a buy rating in a report on Saturday, November 25th. Piper Jaffray Companies reiterated a hold rating and set a $118.00 price target on shares of Cimarex Energy in a research note on Friday, November 24th. Finally, Barclays raised their price objective on shares of Cimarex Energy from $132.00 to $141.00 and gave the company an overweight rating in a research report on Monday, November 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $136.55.
Shares of Cimarex Energy (XEC) traded down $0.51 during trading hours on Tuesday, hitting $127.14. 1,459,914 shares of the stock traded hands, compared to its average volume of 776,125. Cimarex Energy has a 52-week low of $89.49 and a 52-week high of $144.30. The company has a market capitalization of $12,160.05, a P/E ratio of 33.81 and a beta of 1.33. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.62.
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 (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $463.68 million during the quarter, compared to the consensus estimate of $451.53 million. During the same period in the prior year, the firm earned $0.53 earnings per share. Cimarex Energy’s revenue was up 38.1% on a year-over-year basis. equities research analysts expect that Cimarex Energy will post 4.41 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.25%. Cimarex Energy’s dividend payout ratio (DPR) is presently 8.51%.
In other Cimarex Energy news, VP Stephen P. Bell sold 3,696 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $125.11, for a total transaction of $462,406.56. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director L Paul Teague sold 3,248 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $125.03, for a total transaction of $406,097.44. Following the transaction, the director now owns 41,146 shares in the company, valued at approximately $5,144,484.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,264 shares of company stock valued at $3,804,134. 1.70% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. DnB Asset Management AS boosted its holdings in Cimarex Energy by 5.1% during the fourth quarter. DnB Asset Management AS now owns 14,359 shares of the oil and gas producer’s stock worth $1,752,000 after buying an additional 700 shares in the last quarter. Atlantic Trust Group LLC purchased a new stake in Cimarex Energy during the third quarter worth $6,645,000. Parametric Portfolio Associates LLC boosted its holdings in Cimarex Energy by 37.9% during the third quarter. Parametric Portfolio Associates LLC now owns 258,902 shares of the oil and gas producer’s stock worth $29,429,000 after buying an additional 71,140 shares in the last quarter. Optimum Investment Advisors purchased a new stake in Cimarex Energy during the third quarter worth $281,000. Finally, Belpointe Asset Management LLC purchased a new stake in Cimarex Energy during the third quarter worth $311,000. 92.00% of the stock is currently owned by institutional investors and hedge funds.
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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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