Cimarex Energy Co (NYSE:XEC) shares gapped up prior to trading on Monday . The stock had previously closed at $71.18, but opened at $70.83. Cimarex Energy shares last traded at $70.28, with a volume of 31916 shares.
XEC has been the subject of a number of research reports. Barclays initiated coverage on shares of Cimarex Energy in a report on Wednesday, January 16th. They issued an “equal weight” rating and a $81.00 target price for the company. Morgan Stanley dropped their target price on shares of Cimarex Energy from $101.00 to $96.00 and set an “overweight” rating for the company in a report on Thursday, March 21st. Susquehanna Bancshares raised shares of Cimarex Energy from a “neutral” rating to a “positive” rating and increased their target price for the stock from $74.00 to $88.00 in a report on Friday, February 8th. Evercore ISI cut shares of Cimarex Energy from an “outperform” rating to an “in-line” rating in a report on Tuesday, March 12th. Finally, Capital One Financial cut shares of Cimarex Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the stock. Cimarex Energy currently has a consensus rating of “Hold” and a consensus target price of $108.16.
The firm has a market cap of $7.10 billion, a PE ratio of 9.40 and a beta of 1.34. The company has a current ratio of 2.01, a quick ratio of 1.93 and a debt-to-equity ratio of 0.45.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings data on Wednesday, February 20th. The oil and gas producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.23. The business had revenue of $624.10 million during the quarter, compared to analyst estimates of $620.20 million. Cimarex Energy had a net margin of 33.85% and a return on equity of 23.51%. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the business earned $1.47 EPS. Equities analysts expect that Cimarex Energy Co will post 5.74 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Tuesday, May 14th. This is a positive change from Cimarex Energy’s previous quarterly dividend of $0.18. Cimarex Energy’s dividend payout ratio (DPR) is 9.73%.
In related news, Director Harold R. Logan, Jr. sold 990 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $70.00, for a total value of $69,300.00. Following the completion of the transaction, the director now owns 7,259 shares in the company, valued at approximately $508,130. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. bought a new position in Cimarex Energy in the 4th quarter valued at approximately $26,000. First Bank & Trust acquired a new stake in Cimarex Energy during the 4th quarter valued at approximately $28,000. CSat Investment Advisory L.P. increased its position in Cimarex Energy by 77.7% during the 4th quarter. CSat Investment Advisory L.P. now owns 549 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 240 shares during the period. Huntington National Bank increased its position in Cimarex Energy by 948.3% during the 4th quarter. Huntington National Bank now owns 629 shares of the oil and gas producer’s stock valued at $39,000 after purchasing an additional 569 shares during the period. Finally, Bremer Trust National Association acquired a new stake in Cimarex Energy during the 4th quarter valued at approximately $43,000. Institutional investors and hedge funds own 94.21% of the company’s stock.
About Cimarex Energy (NYSE:XEC)
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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