Cimarex Energy (NYSE:XEC) Price Target Increased to $45.00 by Analysts at UBS Group

Cimarex Energy (NYSE:XEC) had its price target lifted by UBS Group from $30.00 to $45.00 in a research report report published on Monday, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the oil and gas producer’s stock.

A number of other research analysts have also weighed in on the company. KeyCorp increased their price objective on Cimarex Energy from $38.00 to $43.00 and gave the company an overweight rating in a report on Thursday, June 11th. ValuEngine raised Cimarex Energy from a strong sell rating to a sell rating in a report on Friday, May 1st. Piper Sandler dropped their target price on Cimarex Energy from $62.00 to $17.00 in a report on Wednesday, March 25th. Robert W. Baird dropped their target price on Cimarex Energy from $51.00 to $21.00 and set an outperform rating on the stock in a report on Friday, April 24th. Finally, SunTrust Banks dropped their target price on Cimarex Energy from $25.00 to $22.00 in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Cimarex Energy has an average rating of Buy and an average price target of $41.48.

Shares of XEC stock opened at $26.79 on Monday. The stock’s 50-day simple moving average is $27.94 and its 200-day simple moving average is $32.68. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.01 and a current ratio of 1.08. The firm has a market capitalization of $2.81 billion, a PE ratio of -2.63 and a beta of 2.31. Cimarex Energy has a fifty-two week low of $12.15 and a fifty-two week high of $59.50.

Cimarex Energy (NYSE:XEC) last announced its quarterly earnings data on Wednesday, May 6th. The oil and gas producer reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.17. The business had revenue of $472.83 million for the quarter, compared to analyst estimates of $504.50 million. Cimarex Energy had a positive return on equity of 10.09% and a negative net margin of 44.65%. The company’s revenue was down 18.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.20 earnings per share. Sell-side analysts forecast that Cimarex Energy will post -0.18 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.28%. Cimarex Energy’s dividend payout ratio (DPR) is presently 19.73%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its position in shares of Cimarex Energy by 66.6% in the first quarter. Tower Research Capital LLC TRC now owns 1,751 shares of the oil and gas producer’s stock valued at $29,000 after acquiring an additional 700 shares in the last quarter. Sowell Financial Services LLC lifted its position in shares of Cimarex Energy by 24.9% in the first quarter. Sowell Financial Services LLC now owns 2,140 shares of the oil and gas producer’s stock valued at $36,000 after acquiring an additional 426 shares in the last quarter. Accurate Investment Solutions Inc. lifted its position in shares of Cimarex Energy by 64.6% in the first quarter. Accurate Investment Solutions Inc. now owns 3,260 shares of the oil and gas producer’s stock valued at $55,000 after acquiring an additional 1,280 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Cimarex Energy by 120.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,682 shares of the oil and gas producer’s stock valued at $62,000 after purchasing an additional 2,008 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new stake in shares of Cimarex Energy in the first quarter valued at approximately $77,000. Institutional investors and hedge funds own 95.58% of the company’s stock.

About Cimarex Energy

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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