Cimarex Energy Co (XEC) Given Average Rating of “Hold” by Brokerages
Shares of Cimarex Energy Co (NYSE:XEC) have been given an average recommendation of “Hold” by the twenty-six analysts that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $136.40.
Several equities research analysts have recently weighed in on XEC shares. Scotiabank set a $143.00 target price on shares of Cimarex Energy and gave the stock a “buy” rating in a report on Saturday, July 1st. Barclays PLC upped their target price on shares of Cimarex Energy from $112.00 to $117.00 and gave the stock an “overweight” rating in a report on Tuesday, August 15th. Stifel Nicolaus set a $169.00 target price on shares of Cimarex Energy and gave the stock a “buy” rating in a report on Wednesday, August 16th. BidaskClub lowered shares of Cimarex Energy from a “sell” rating to a “strong sell” rating in a report on Thursday, August 17th. Finally, Jefferies Group LLC set a $98.00 target price on shares of Cimarex Energy and gave the stock a “hold” rating in a report on Tuesday, August 29th.
In other Cimarex Energy news, COO Joseph R. Albi sold 2,000 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $106.16, for a total transaction of $212,320.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Harold R. Logan, Jr. sold 913 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $105.83, for a total transaction of $96,622.79. Following the transaction, the director now owns 9,299 shares in the company, valued at $984,113.17. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,299 shares of company stock worth $2,204,271. Corporate insiders own 1.70% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in XEC. Turner Investments LLC acquired a new position in Cimarex Energy during the 2nd quarter valued at about $100,000. Advisor Group Inc. lifted its position in Cimarex Energy by 5.3% during the 2nd quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock valued at $113,000 after purchasing an additional 60 shares during the period. Global X Management Co. LLC lifted its position in Cimarex Energy by 14.7% during the 2nd quarter. Global X Management Co. LLC now owns 1,265 shares of the oil and gas producer’s stock valued at $119,000 after purchasing an additional 162 shares during the period. State of Alaska Department of Revenue lifted its position in Cimarex Energy by 0.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 1,427 shares of the oil and gas producer’s stock valued at $134,000 after purchasing an additional 10 shares during the period. Finally, Pacer Advisors Inc. lifted its position in Cimarex Energy by 8.3% during the 2nd quarter. Pacer Advisors Inc. now owns 1,935 shares of the oil and gas producer’s stock valued at $182,000 after purchasing an additional 148 shares during the period. Institutional investors own 91.31% of the company’s stock.
Shares of Cimarex Energy (NYSE XEC) opened at 106.72 on Friday. The company has a 50-day moving average of $99.10 and a 200 day moving average of $107.28. The company has a market capitalization 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.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.11. The firm had revenue of $456.50 million for the quarter, compared to analyst estimates of $441.52 million. Cimarex Energy had a net margin of 15.64% and a return on equity of 13.29%. The business’s revenue for the quarter was up 52.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 EPS. Analysts forecast that Cimarex Energy will post $4.17 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, November 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.30%. Cimarex Energy’s payout ratio is presently 12.03%.
About Cimarex Energy
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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