Cimarex Energy Co. (NYSE:XEC) Receives Consensus Recommendation of “Hold” from Brokerages

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Cimarex Energy Co. (NYSE:XEC) has earned a consensus rating of “Hold” from the thirty research firms that are presently covering the company. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $119.64.
In other Cimarex Energy news, COO Joseph R. Albi sold 1,000 shares of the firm’s stock in a transaction on Tuesday, June 14th. The shares were sold at an average price of $114.55, for a total value of $114,550.00. Following the sale, the chief operating officer now directly owns 118,461 shares in the company, valued at approximately $13,569,707.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Joseph R. Albi sold 3,500 shares of the firm’s stock in a transaction on Wednesday, June 15th. The stock was sold at an average price of $114.70, for a total transaction of $401,450.00. Following the completion of the sale, the chief operating officer now owns 118,461 shares in the company, valued at $13,587,476.70. The disclosure for this sale can be found here.
Cimarex Energy (NYSE:XEC) traded up 0.44% during mid-day trading on Tuesday, hitting $135.52. The stock had a trading volume of 359,706 shares. The firm’s 50-day moving average is $125.45 and its 200 day moving average is $111.58. Cimarex Energy has a one year low of $72.77 and a one year high of $136.95. The stock’s market cap is $12.87 billion.

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Cimarex Energy (NYSE:XEC) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.18. The company earned $298.90 million during the quarter, compared to the consensus estimate of $279.22 million. The company’s revenue was down 29.6% on a year-over-year basis. During the same quarter last year, the business earned $0.15 earnings per share. Equities research analysts expect that Cimarex Energy will post $0.63 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be issued a $0.08 dividend. The ex-dividend date is Thursday, November 10th. This represents a $0.32 annualized dividend and a yield of 0.24%.
XEC has been the subject of several recent analyst reports. Williams Capital initiated coverage on shares of Cimarex Energy in a report on Monday, August 29th. They issued a “hold” rating and a $143.00 price objective for the company. Barclays PLC increased their price objective on shares of Cimarex Energy from $109.00 to $116.00 and gave the company an “overweight” rating in a report on Monday, May 9th. Wells Fargo & Co. initiated coverage on shares of Cimarex Energy in a report on Wednesday, August 31st. They issued an “outperform” rating and a $150.00 price objective for the company. Citigroup increased their price objective on shares of Cimarex Energy from $127.00 to $149.00 and gave the company a “buy” rating in a report on Thursday, August 11th. Finally, Deutsche Bank AG increased their price objective on shares of Cimarex Energy from $120.00 to $140.00 and gave the company a “hold” rating in a report on Wednesday, August 10th.
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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