Cimarex Energy (NYSE:XEC) PT Raised to $65.00

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Cimarex Energy (NYSE:XEC) had its price target increased by Wells Fargo & Co from $64.00 to $65.00 in a research report report published on Friday, September 20th, BenzingaRatingsTable reports. Wells Fargo & Co currently has a market perform rating on the oil and gas producer’s stock.

XEC has been the topic of several other reports. Bank of America lowered their price objective on shares of Cimarex Energy from $87.00 to $75.00 and set a buy rating on the stock in a research report on Tuesday, August 6th. SunTrust Banks set a $60.00 price target on shares of Cimarex Energy and gave the company a buy rating in a report on Wednesday, August 7th. Robert W. Baird reaffirmed an outperform rating and set a $82.00 target price (down previously from $110.00) on shares of Cimarex Energy in a report on Wednesday, June 5th. Morgan Stanley dropped their target price on shares of Cimarex Energy from $81.00 to $57.00 and set an overweight rating for the company in a research report on Wednesday, August 14th. Finally, Piper Jaffray Companies set a $68.00 target price on shares of Cimarex Energy and gave the stock a hold rating in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $75.67.

NYSE:XEC traded up $0.46 during mid-day trading on Friday, reaching $45.32. The stock had a trading volume of 1,412,732 shares, compared to its average volume of 2,238,643. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of 6.12 and a beta of 1.32. Cimarex Energy has a 1-year low of $37.19 and a 1-year high of $96.76. The stock’s 50 day simple moving average is $45.18 and its two-hundred day simple moving average is $55.57. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.64 and a quick ratio of 0.57.

Cimarex Energy (NYSE:XEC) last issued its earnings results on Monday, August 5th. The oil and gas producer reported $0.82 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.20 by ($0.38). Cimarex Energy had a return on equity of 16.59% and a net margin of 25.66%. The business had revenue of $546.46 million during the quarter, compared to the consensus estimate of $594.90 million. During the same period in the prior year, the business earned $1.59 EPS. The business’s revenue was down 1.8% on a year-over-year basis. Sell-side analysts anticipate that Cimarex Energy will post 4.49 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.77%. Cimarex Energy’s dividend payout ratio is currently 10.81%.

Hedge funds have recently modified their holdings of the stock. Valeo Financial Advisors LLC boosted its position in Cimarex Energy by 319.8% during the second quarter. Valeo Financial Advisors LLC now owns 487 shares of the oil and gas producer’s stock valued at $29,000 after purchasing an additional 371 shares in the last quarter. Nvwm LLC boosted its position in Cimarex Energy by 462.0% during the first quarter. Nvwm LLC now owns 517 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 425 shares in the last quarter. Advisory Services Network LLC boosted its position in Cimarex Energy by 1,170.2% during the second quarter. Advisory Services Network LLC now owns 597 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 550 shares in the last quarter. Bremer Bank National Association bought a new stake in Cimarex Energy during the first quarter valued at about $48,000. Finally, CSat Investment Advisory L.P. boosted its holdings in Cimarex Energy by 84.5% in the second quarter. CSat Investment Advisory L.P. now owns 1,127 shares of the oil and gas producer’s stock worth $67,000 after acquiring an additional 516 shares in the last quarter. 96.08% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Cimarex Energy (NYSE:XEC)

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