Cimarex Energy (NYSE:XEC) had its price target increased by Morgan Stanley from $124.00 to $127.00 in a report released on Tuesday. They currently have a buy rating on the oil and gas producer’s stock.

Several other research analysts have also issued reports on the company. ValuEngine lowered Cimarex Energy from a sell rating to a strong sell rating in a research report on Tuesday, October 23rd. Williams Capital reiterated a buy rating and issued a $134.00 price target on shares of Cimarex Energy in a report on Wednesday, August 8th. Stifel Nicolaus set a $175.00 price target on Cimarex Energy and gave the company a buy rating in a report on Tuesday, August 7th. SunTrust Banks lowered Cimarex Energy from a buy rating to a hold rating and set a $94.00 price target for the company. in a report on Friday, September 7th. Finally, Piper Jaffray Companies started coverage on Cimarex Energy in a report on Friday, September 28th. They issued a neutral rating for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company. The company has an average rating of Buy and a consensus price target of $130.25.

Shares of NYSE:XEC opened at $83.14 on Tuesday. Cimarex Energy has a 1 year low of $77.63 and a 1 year high of $130.16. The company has a market cap of $8.42 billion, a price-to-earnings ratio of 17.88 and a beta of 1.04. The company has a quick ratio of 1.62, a current ratio of 1.69 and a debt-to-equity ratio of 0.49.

Cimarex Energy (NYSE:XEC) last announced its earnings results on Tuesday, November 6th. The oil and gas producer reported $1.99 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.52 by $0.47. Cimarex Energy had a return on equity of 23.33% and a net margin of 28.70%. The business had revenue of $591.50 million during the quarter, compared to analyst estimates of $561.67 million. During the same quarter in the previous year, the business earned $1.09 earnings per share. The company’s revenue for the quarter was up 27.6% compared to the same quarter last year. Analysts anticipate that Cimarex Energy will post 7.18 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Thursday, November 15th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This is an increase from Cimarex Energy’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.87%. Cimarex Energy’s dividend payout ratio is presently 15.48%.

In other Cimarex Energy news, Director Lisa A. Stewart purchased 320 shares of Cimarex Energy stock in a transaction dated Thursday, August 30th. The shares were acquired at an average cost of $84.05 per share, with a total value of $26,896.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.70% of the company’s stock.

Several hedge funds have recently modified their holdings of XEC. Xact Kapitalforvaltning AB increased its position in shares of Cimarex Energy by 9.2% during the second quarter. Xact Kapitalforvaltning AB now owns 12,651 shares of the oil and gas producer’s stock worth $1,287,000 after purchasing an additional 1,067 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Cimarex Energy by 6.4% during the second quarter. Nisa Investment Advisors LLC now owns 54,848 shares of the oil and gas producer’s stock worth $5,580,000 after purchasing an additional 3,300 shares in the last quarter. Creative Planning increased its position in shares of Cimarex Energy by 49.4% during the second quarter. Creative Planning now owns 4,541 shares of the oil and gas producer’s stock worth $462,000 after purchasing an additional 1,502 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Cimarex Energy by 31.5% during the second quarter. Janney Montgomery Scott LLC now owns 8,069 shares of the oil and gas producer’s stock worth $821,000 after purchasing an additional 1,931 shares in the last quarter. Finally, McCollum Christoferson Group LLC increased its position in shares of Cimarex Energy by 3.0% during the second quarter. McCollum Christoferson Group LLC now owns 36,267 shares of the oil and gas producer’s stock worth $3,690,000 after purchasing an additional 1,060 shares in the last quarter. 98.47% of the stock is currently owned by institutional investors and hedge funds.

Cimarex Energy Company Profile

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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Analyst Recommendations for Cimarex Energy (NYSE:XEC)

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