Williams Capital reaffirmed their buy rating on shares of Cimarex Energy (NYSE:XEC) in a research report report published on Wednesday morning. They currently have a $132.00 target price on the oil and gas producer’s stock.
Other analysts have also issued research reports about the stock. Credit Suisse Group set a $152.00 target price on shares of Cimarex Energy and gave the stock a buy rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. Stifel Nicolaus reduced their price target on shares of Cimarex Energy from $188.00 to $185.00 and set a buy rating on the stock in a research report on Thursday, February 15th. Robert W. Baird set a $121.00 price target on shares of Cimarex Energy and gave the stock a buy rating in a research report on Tuesday, February 13th. SunTrust Banks raised shares of Cimarex Energy from a hold rating to a buy rating and set a $140.00 price target on the stock in a research report on Tuesday, February 6th. Finally, Deutsche Bank assumed coverage on shares of Cimarex Energy in a research report on Thursday, February 1st. They set a buy rating and a $164.00 price target on the stock. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $132.91.
XEC opened at $92.08 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.49 and a quick ratio of 1.40. Cimarex Energy has a 52 week low of $87.98 and a 52 week high of $130.16. The firm has a market cap of $9.06 billion, a price-to-earnings ratio of 19.80 and a beta of 1.19.
Cimarex Energy (NYSE:XEC) last released its earnings results on Tuesday, May 8th. The oil and gas producer reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.09. Cimarex Energy had a net margin of 26.97% and a return on equity of 20.67%. The firm had revenue of $567.10 million during the quarter, compared to analyst estimates of $568.46 million. During the same quarter in the previous year, the business earned $1.05 EPS. The business’s quarterly revenue was up 26.8% compared to the same quarter last year. equities analysts expect that Cimarex Energy will post 7.16 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 31st. Investors of record on Wednesday, August 15th will be given a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, August 14th. This represents a $0.64 annualized dividend and a yield of 0.70%. Cimarex Energy’s dividend payout ratio is currently 13.76%.
In related news, Director Harold R. Logan, Jr. sold 1,900 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $97.82, for a total value of $185,858.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Thomas E. Jorden sold 2,500 shares of the business’s stock in a transaction on Wednesday, April 18th. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of XEC. Assetmark Inc. lifted its position in Cimarex Energy by 1,015.9% in the 4th quarter. Assetmark Inc. now owns 982 shares of the oil and gas producer’s stock valued at $120,000 after acquiring an additional 894 shares in the last quarter. Summit Trail Advisors LLC increased its stake in Cimarex Energy by 5,454.0% in the 1st quarter. Summit Trail Advisors LLC now owns 120,466 shares of the oil and gas producer’s stock valued at $120,000 after buying an additional 118,297 shares during the last quarter. Dupont Capital Management Corp acquired a new stake in Cimarex Energy in the 1st quarter valued at $158,000. Rampart Investment Management Company LLC increased its stake in Cimarex Energy by 77.3% in the 1st quarter. Rampart Investment Management Company LLC now owns 2,073 shares of the oil and gas producer’s stock valued at $194,000 after buying an additional 904 shares during the last quarter. Finally, LMR Partners LLP acquired a new stake in Cimarex Energy in the 4th quarter valued at $200,000. 94.63% of the stock is currently owned by institutional investors and hedge funds.
About Cimarex Energy
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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