Cimarex Energy Co (NYSE:XEC) announced a quarterly dividend on Friday, September 1st, RTT News reports. Shareholders of record on Wednesday, November 15th will be paid a dividend of 0.08 per share by the oil and gas producer on Friday, December 1st. This represents a $0.32 annualized dividend and a yield of 0.30%. The ex-dividend date is Tuesday, November 14th.
Cimarex Energy has decreased its dividend by an average of 9.5% per year over the last three years. Cimarex Energy has a dividend payout ratio of 7.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cimarex Energy to earn $5.12 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 6.3%.
Cimarex Energy (NYSE:XEC) opened at 106.72 on Friday. The company has a market cap of $9.97 billion, a P/E ratio of 38.22 and a beta of 1.32. Cimarex Energy has a 12 month low of $89.49 and a 12 month high of $146.96. The stock has a 50 day moving average of $99.10 and a 200-day moving average of $107.28.
Cimarex Energy (NYSE:XEC) last posted its earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.11. Cimarex Energy had a return on equity of 13.29% and a net margin of 15.64%. The firm had revenue of $456.50 million during the quarter, compared to the consensus estimate of $441.52 million. During the same period in the prior year, the company earned $0.07 EPS. The company’s quarterly revenue was up 52.7% compared to the same quarter last year. Equities research analysts expect that Cimarex Energy will post $4.17 EPS for the current year.
XEC has been the topic of a number of recent analyst reports. Scotiabank set a $143.00 target price on Cimarex Energy and gave the stock a “buy” rating in a research note on Saturday, July 1st. Barclays PLC increased their target price on Cimarex Energy from $112.00 to $117.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 15th. Stifel Nicolaus set a $169.00 price target on Cimarex Energy and gave the stock a “buy” rating in a research report on Wednesday, August 16th. BidaskClub downgraded Cimarex Energy from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Finally, Jefferies Group LLC set a $98.00 price target on Cimarex Energy and gave the stock a “hold” rating in a research report on Tuesday, August 29th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the stock. Cimarex Energy has an average rating of “Hold” and an average target price of $136.40.
In other news, VP Joseph R. Albi sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $106.13, for a total value of $424,520.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Stephen P. Bell sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $105.00, for a total value of $262,500.00. The disclosure for this sale can be found here. Insiders sold 21,299 shares of company stock valued at $2,204,271 over the last 90 days. Company insiders own 1.70% of the company’s stock.
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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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