Cimarex Energy Co. (XEC) Now Covered by Analysts at FBR & Co
Stock analysts at FBR & Co assumed coverage on shares of Cimarex Energy Co. (NYSE:XEC) in a research report issued on Tuesday, StockTargetPrices.com reports. The firm set an “outperform” rating and a $160.00 price target on the stock. FBR & Co’s target price suggests a potential upside of 20.82% from the company’s previous close.
Several other research firms have also commented on XEC. Canaccord Genuity cut their price target on Cimarex Energy from $112.00 to $94.00 and set a “hold” rating on the stock in a research report on Thursday, August 11th. Deutsche Bank AG lifted their price target on Cimarex Energy from $120.00 to $140.00 and gave the stock a “hold” rating in a research report on Wednesday, August 10th. Citigroup Inc. lifted their price target on Cimarex Energy from $149.00 to $157.00 and gave the stock a “buy” rating in a research report on Monday. Wells Fargo & Co. initiated coverage on Cimarex Energy in a research report on Wednesday, August 31st. They set an “outperform” rating and a $150.00 price target on the stock. Finally, Williams Capital initiated coverage on Cimarex Energy in a research report on Monday, August 29th. They set a “hold” rating and a $143.00 price target on the stock. Two analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $120.15.
Cimarex Energy (NYSE:XEC) opened at 132.43 on Tuesday. Cimarex Energy has a 12 month low of $72.77 and a 12 month high of $136.95. The stock’s 50 day moving average price is $127.92 and its 200-day moving average price is $113.49. The stock’s market cap is $12.58 billion.
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Cimarex Energy (NYSE:XEC) last posted its earnings results on Wednesday, August 3rd. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.18. The firm earned $298.90 million during the quarter, compared to analysts’ expectations of $279.22 million. Cimarex Energy had a negative return on equity of 2.41% and a negative net margin of 153.32%. The firm’s revenue was down 29.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.15 earnings per share. Equities research analysts predict that Cimarex Energy will post $0.61 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, November 10th. This represents a $0.32 annualized dividend and a yield of 0.24%. Cimarex Energy’s dividend payout ratio (DPR) is presently -1.61%.
In other Cimarex Energy news, SVP Francis Brian Barron sold 500 shares of the company’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $135.54, for a total transaction of $67,770.00. Following the completion of the sale, the senior vice president now directly owns 67,039 shares in the company, valued at $9,086,466.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas E. Jorden sold 2,500 shares of the company’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $119.87, for a total value of $299,675.00. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
Large investors have recently made changes to their positions in the company. Royal London Asset Management Ltd. raised its stake in shares of Cimarex Energy by 0.9% in the fourth quarter. Royal London Asset Management Ltd. now owns 34,302 shares of the company’s stock valued at $3,071,000 after buying an additional 319 shares in the last quarter. Pioneer Investment Management Inc. raised its stake in shares of Cimarex Energy by 31.0% in the fourth quarter. Pioneer Investment Management Inc. now owns 360,215 shares of the company’s stock valued at $32,196,000 after buying an additional 85,312 shares in the last quarter. Norges Bank purchased a new stake in shares of Cimarex Energy during the fourth quarter valued at approximately $65,548,000. Chevy Chase Trust Holdings Inc. raised its stake in shares of Cimarex Energy by 4.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 80,112 shares of the company’s stock valued at $7,792,000 after buying an additional 3,612 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Cimarex Energy by 12.8% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 24,380 shares of the company’s stock valued at $2,371,000 after buying an additional 2,762 shares in the last quarter. Institutional investors own 92.51% of the company’s stock.
About Cimarex Energy
Cimarex Energy Co is an independent oil and gas exploration and production company. The Company’s segment is exploration and production. Its operations are located mainly in Oklahoma, Texas and New Mexico. Its operations are focused in approximately two main areas, such as the Permian Basin and the Mid-Continent region.
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