Cimarex Energy Co (XEC) Receives “Buy” Rating from Stifel Nicolaus
A number of other research firms have also weighed in on XEC. Seaport Global Securities lowered shares of Cimarex Energy from a buy rating to a neutral rating in a research note on Friday, March 31st. Jefferies Group LLC reissued a hold rating and issued a $123.00 target price on shares of Cimarex Energy in a research note on Tuesday, April 18th. Barclays PLC reissued an overweight rating and issued a $129.00 target price (down from $139.00) on shares of Cimarex Energy in a research note on Saturday, April 22nd. Citigroup Inc. reissued a buy rating and issued a $166.00 target price (up from $164.00) on shares of Cimarex Energy in a research note on Saturday, April 22nd. Finally, UBS AG reissued a neutral rating and issued a $134.00 target price (up from $131.00) on shares of Cimarex Energy in a research note on Friday, May 12th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $138.90.
Shares of Cimarex Energy (NYSE XEC) traded up 0.33% during midday trading on Friday, reaching $94.13. The company’s stock had a trading volume of 828,835 shares. The stock’s market capitalization is $8.79 billion. The company has a 50 day moving average price of $104.05 and a 200-day moving average price of $121.82. Cimarex Energy has a 52 week low of $89.49 and a 52 week high of $146.96.
Cimarex Energy (NYSE:XEC) last released its earnings results on Wednesday, May 10th. The oil and gas producer reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.20. Cimarex Energy had a negative net margin of 7.78% and a positive return on equity of 9.03%. The business had revenue of $447.20 million for the quarter, compared to analyst estimates of $423.62 million. During the same period last year, the company posted ($0.40) EPS. The business’s revenue was up 85.9% on a year-over-year basis. On average, equities research analysts expect that Cimarex Energy will post $4.41 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, August 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.34%. Cimarex Energy’s payout ratio is currently -25.20%.
In related news, CEO Thomas E. Jorden sold 2,500 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $116.40, for a total value of $291,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Stephen P. Bell sold 5,000 shares of the business’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $117.24, for a total transaction of $586,200.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,538 shares of company stock valued at $1,001,760. Insiders own 1.70% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Cimarex Energy by 3,127.3% in the first quarter. BlackRock Inc. now owns 7,141,421 shares of the oil and gas producer’s stock worth $853,329,000 after buying an additional 6,920,140 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Cimarex Energy by 2.7% in the first quarter. Public Employees Retirement System of Ohio now owns 51,868 shares of the oil and gas producer’s stock worth $6,198,000 after buying an additional 1,350 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Cimarex Energy during the fourth quarter worth approximately $418,000. Hudson Bay Capital Management LP acquired a new stake in shares of Cimarex Energy during the fourth quarter worth approximately $1,699,000. Finally, Princeton Alpha Management LP acquired a new stake in shares of Cimarex Energy during the first quarter worth approximately $361,000. 92.70% of the stock is owned by hedge funds and other institutional investors.
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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