Cimarex Energy Co (NYSE:XEC) had its price target upped by SunTrust Banks, Inc. to $127.00 in a research report sent to investors on Thursday morning, The Fly reports. The firm currently has a hold rating on the oil and gas producer’s stock. SunTrust Banks also issued estimates for Cimarex Energy’s FY2018 earnings at $5.15 EPS.
XEC has been the topic of several other reports. KeyCorp reaffirmed a buy rating on shares of Cimarex Energy in a research report on Wednesday, November 8th. Williams Capital reaffirmed a buy rating and issued a $136.00 target price on shares of Cimarex Energy in a research report on Wednesday, August 9th. Jefferies Group LLC set a $98.00 target price on Cimarex Energy and gave the stock a hold rating in a research report on Tuesday, August 29th. BidaskClub raised Cimarex Energy from a strong sell rating to a sell rating in a research report on Monday, July 31st. Finally, 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 report on Tuesday, August 15th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. Cimarex Energy presently has an average rating of Buy and an average price target of $135.81.
Shares of Cimarex Energy (NYSE XEC) opened at $125.05 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.42 and a current ratio of 1.51. The stock has a market capitalization of $11,912.38, a P/E ratio of 32.91 and a beta of 1.35. Cimarex Energy has a 52-week low of $89.49 and a 52-week high of $146.96.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.12. The business had revenue of $463.68 million for the quarter, compared to analyst estimates of $451.53 million. Cimarex Energy had a return on equity of 16.11% and a net margin of 20.45%. The business’s revenue was up 38.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.53 EPS. research analysts predict that Cimarex Energy will post 4.31 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date is Tuesday, November 14th. Cimarex Energy’s dividend payout ratio (DPR) is presently 8.51%.
In related news, CEO Thomas E. Jorden sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $125.10, for a total value of $312,750.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Joseph R. Albi sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $106.13, for a total value of $424,520.00. The disclosure for this sale can be found here. Insiders sold a total of 26,107 shares of company stock worth $2,918,092 over the last three months. 1.70% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Trust Co. of Vermont grew its holdings in Cimarex Energy by 6.9% in the 3rd quarter. Trust Co. of Vermont now owns 26,240 shares of the oil and gas producer’s stock valued at $2,983,000 after buying an additional 1,692 shares during the last quarter. Xact Kapitalforvaltning AB grew its holdings in Cimarex Energy by 17.0% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 8,339 shares of the oil and gas producer’s stock valued at $784,000 after buying an additional 1,213 shares during the last quarter. South Dakota Investment Council acquired a new stake in Cimarex Energy in the 2nd quarter valued at approximately $11,439,000. Elliott Management Corp acquired a new stake in Cimarex Energy in the 2nd quarter valued at approximately $288,000. Finally, Calamos Advisors LLC grew its holdings in Cimarex Energy by 37.0% in the 2nd quarter. Calamos Advisors LLC now owns 25,006 shares of the oil and gas producer’s stock valued at $2,351,000 after buying an additional 6,757 shares during the last quarter. 91.05% of the stock is currently owned by hedge funds and other institutional investors.
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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