Morgan Stanley Analysts Give Cimarex Energy (NYSE:XEC) a $85.00 Price Target

Morgan Stanley set a $85.00 target price on Cimarex Energy (NYSE:XEC) in a research report released on Monday morning, Stock Target Advisor reports. The firm currently has a buy rating on the oil and gas producer’s stock.

A number of other analysts have also weighed in on XEC. Evercore ISI lowered shares of Cimarex Energy from an outperform rating to an in-line rating in a research note on Tuesday, March 12th. Capital One Financial downgraded shares of Cimarex Energy from an overweight rating to an equal weight rating in a report on Wednesday, March 20th. SunTrust Banks set a $75.00 price target on shares of Cimarex Energy and gave the stock a hold rating in a report on Tuesday, April 23rd. Imperial Capital reissued an outperform rating and set a $82.00 price target (down from $84.00) on shares of Cimarex Energy in a report on Friday, May 10th. Finally, Wells Fargo & Co assumed coverage on shares of Cimarex Energy in a report on Monday, May 20th. They set a market perform rating and a $86.00 price target on the stock. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $101.88.

NYSE:XEC opened at $57.18 on Monday. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 7.73 and a beta of 1.36. Cimarex Energy has a 1-year low of $53.45 and a 1-year high of $103.91. The business has a fifty day simple moving average of $60.92. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.66 and a quick ratio of 0.59.

Cimarex Energy (NYSE:XEC) last released its quarterly earnings data on Wednesday, May 8th. The oil and gas producer reported $1.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.37 by ($0.17). The business had revenue of $577.00 million during the quarter, compared to analyst estimates of $581.51 million. Cimarex Energy had a return on equity of 19.95% and a net margin of 26.90%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.82 EPS. Equities research analysts forecast that Cimarex Energy will post 6.08 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.40%. The ex-dividend date is Wednesday, August 14th. Cimarex Energy’s payout ratio is 10.81%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sippican Capital Advisors lifted its holdings in Cimarex Energy by 1.4% during the first quarter. Sippican Capital Advisors now owns 11,856 shares of the oil and gas producer’s stock valued at $829,000 after purchasing an additional 162 shares in the last quarter. World Asset Management Inc lifted its holdings in Cimarex Energy by 3.2% during the first quarter. World Asset Management Inc now owns 5,457 shares of the oil and gas producer’s stock valued at $381,000 after purchasing an additional 171 shares in the last quarter. Eaton Vance Management lifted its holdings in Cimarex Energy by 1.3% during the fourth quarter. Eaton Vance Management now owns 14,216 shares of the oil and gas producer’s stock valued at $876,000 after purchasing an additional 188 shares in the last quarter. CSat Investment Advisory L.P. lifted its holdings in Cimarex Energy by 77.7% during the fourth quarter. CSat Investment Advisory L.P. now owns 549 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 240 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV lifted its holdings in Cimarex Energy by 4.0% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 7,631 shares of the oil and gas producer’s stock valued at $470,000 after purchasing an additional 297 shares in the last quarter. 93.28% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Cimarex Energy (NYSE:XEC)

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