Cimarex Energy (NYSE:XEC) Price Target Raised to $55.00

Cimarex Energy (NYSE:XEC) had its price objective increased by KeyCorp from $54.00 to $55.00 in a research note published on Thursday, BenzingaRatingsTable reports. KeyCorp currently has an overweight rating on the oil and gas producer’s stock. KeyCorp also issued estimates for Cimarex Energy’s Q4 2019 earnings at $1.11 EPS and FY2019 earnings at $4.04 EPS.

A number of other analysts have also weighed in on XEC. ValuEngine upgraded shares of Cimarex Energy from a sell rating to a hold rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. upgraded shares of Cimarex Energy from a neutral rating to an overweight rating and raised their target price for the company from $62.00 to $70.00 in a research report on Thursday, January 9th. Susquehanna Bancshares restated a negative rating and issued a $61.00 target price (down previously from $63.00) on shares of Cimarex Energy in a research report on Monday, January 13th. Williams Capital restated a buy rating and issued a $64.00 target price on shares of Cimarex Energy in a research report on Tuesday, November 5th. Finally, Wells Fargo & Co raised their target price on shares of Cimarex Energy from $52.00 to $57.00 and gave the company an equal weight rating in a research report on Thursday, January 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $65.76.

Shares of NYSE:XEC opened at $47.15 on Thursday. The company’s 50 day simple moving average is $51.11 and its 200 day simple moving average is $47.27. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 9.36 and a beta of 1.41. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.70 and a quick ratio of 0.64. Cimarex Energy has a 1 year low of $37.19 and a 1 year high of $77.10.

Cimarex Energy (NYSE:XEC) last announced its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). Cimarex Energy had a net margin of 21.13% and a return on equity of 13.02%. The firm had revenue of $582.31 million during the quarter, compared to the consensus estimate of $575.31 million. During the same period last year, the business earned $1.99 earnings per share. The business’s revenue was down 1.6% compared to the same quarter last year. As a group, analysts anticipate that Cimarex Energy will post 4.05 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.70%. Cimarex Energy’s dividend payout ratio (DPR) is presently 10.81%.

In other news, VP Stephen P. Bell sold 9,067 shares of Cimarex Energy stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $47.84, for a total transaction of $433,765.28. Also, SVP Francis Brian Barron sold 2,500 shares of Cimarex Energy stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $47.84, for a total transaction of $119,600.00. In the last quarter, insiders have sold 14,067 shares of company stock worth $690,865. 1.70% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the company. DNB Asset Management AS raised its stake in Cimarex Energy by 3.4% during the third quarter. DNB Asset Management AS now owns 11,005 shares of the oil and gas producer’s stock worth $528,000 after buying an additional 360 shares during the last quarter. OLD National Bancorp IN raised its stake in Cimarex Energy by 6.5% during the third quarter. OLD National Bancorp IN now owns 6,082 shares of the oil and gas producer’s stock worth $292,000 after buying an additional 372 shares during the last quarter. Parallel Advisors LLC raised its stake in Cimarex Energy by 234.3% during the third quarter. Parallel Advisors LLC now owns 555 shares of the oil and gas producer’s stock worth $27,000 after buying an additional 389 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in Cimarex Energy by 11.5% during the third quarter. Daiwa Securities Group Inc. now owns 3,887 shares of the oil and gas producer’s stock worth $186,000 after buying an additional 400 shares during the last quarter. Finally, LS Investment Advisors LLC raised its stake in Cimarex Energy by 5.6% during the third quarter. LS Investment Advisors LLC now owns 7,542 shares of the oil and gas producer’s stock worth $362,000 after buying an additional 402 shares during the last quarter. Institutional investors own 97.80% of the company’s stock.

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, 2018, it had a total proved reserves of 591.2 million barrels of oil equivalent, consisting of 1.59 trillion cubic feet of natural gas; 146.5 million barrels (MMBbls) of oil; and 179.4 MMBbls of natural gas liquids primarily located in the Permian Basin and Mid-Continent regions.

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