Cimarex Energy (NYSE:XEC) Price Target Cut to $128.00

Cimarex Energy (NYSE:XEC) had its price target lowered by Imperial Capital from $156.00 to $128.00 in a report published on Thursday, August 9th, MarketBeat reports. Imperial Capital currently has an outperform rating on the oil and gas producer’s stock.

A number of other analysts have also commented on XEC. Morgan Stanley lowered their price objective on Cimarex Energy from $135.00 to $124.00 and set an overweight rating for the company in a research report on Thursday, July 12th. Williams Capital reiterated a buy rating and issued a $134.00 price objective on shares of Cimarex Energy in a research report on Wednesday, August 8th. SunTrust Banks set a $130.00 price objective on Cimarex Energy and gave the stock a buy rating in a research report on Monday, April 16th. Stifel Nicolaus set a $178.00 target price on Cimarex Energy and gave the stock a buy rating in a research report on Thursday, July 19th. Finally, Robert W. Baird set a $136.00 target price on Cimarex Energy and gave the stock a buy rating in a research report on Friday, May 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the company’s stock. Cimarex Energy currently has a consensus rating of Buy and a consensus target price of $132.33.

XEC stock traded down $0.50 during midday trading on Thursday, hitting $84.48. 1,280,800 shares of the company traded hands, compared to its average volume of 1,403,228. Cimarex Energy has a twelve month low of $80.53 and a twelve month high of $130.16. The company has a quick ratio of 1.27, a current ratio of 1.34 and a debt-to-equity ratio of 0.52. The company has a market cap of $7.97 billion, a PE ratio of 18.23 and a beta of 1.00.

Cimarex Energy (NYSE:XEC) last announced its quarterly earnings data on Tuesday, August 7th. The oil and gas producer reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.05). The company had revenue of $556.27 million during the quarter, compared to analyst estimates of $557.26 million. Cimarex Energy had a return on equity of 21.47% and a net margin of 27.75%. equities analysts expect that Cimarex Energy will post 6.91 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be issued a dividend of $0.18 per share. This is a positive change from Cimarex Energy’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.85%. Cimarex Energy’s payout ratio is presently 13.76%.

In other news, COO Joseph R. Albi sold 1,750 shares of the stock in a transaction on Wednesday, June 27th. The stock was sold at an average price of $100.10, for a total transaction of $175,175.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director L Paul Teague sold 1,040 shares of the stock in a transaction on Wednesday, June 27th. The stock was sold at an average price of $100.10, for a total value of $104,104.00. Following the sale, the director now directly owns 40,106 shares in the company, valued at $4,014,610.60. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Diamond Hill Capital Management Inc. increased its stake in shares of Cimarex Energy by 18.1% in the first quarter. Diamond Hill Capital Management Inc. now owns 5,083,427 shares of the oil and gas producer’s stock valued at $475,300,000 after buying an additional 780,604 shares during the period. Wells Fargo & Company MN increased its stake in shares of Cimarex Energy by 29.4% in the first quarter. Wells Fargo & Company MN now owns 1,948,829 shares of the oil and gas producer’s stock valued at $182,217,000 after buying an additional 442,696 shares during the period. Howland Capital Management LLC increased its stake in shares of Cimarex Energy by 35.2% in the first quarter. Howland Capital Management LLC now owns 115,384 shares of the oil and gas producer’s stock valued at $10,788,000 after buying an additional 30,012 shares during the period. Dupont Capital Management Corp acquired a new stake in shares of Cimarex Energy in the first quarter valued at about $158,000. Finally, Sentry Investment Management LLC increased its stake in shares of Cimarex Energy by 62.8% in the first quarter. Sentry Investment Management LLC now owns 6,697 shares of the oil and gas producer’s stock valued at $626,000 after buying an additional 2,584 shares during the period. Hedge funds and other institutional investors own 99.73% 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, 2017, it had a total proved oil and gas reserves of 3.35 trillion cubic feet equivalent (Tcfe) consisting of 1.61 trillion cubic feet of natural gas, 0.82 Tcfe of oil, and 0.92 Tcfe of natural gas liquids primarily located in the Mid-Continent and Permian Basin regions.

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