Cimarex Energy (NYSE:XEC) Downgraded by BMO Capital Markets

BMO Capital Markets downgraded shares of Cimarex Energy (NYSE:XEC) from an outperform rating to a market perform rating in a research note published on Thursday, 24/7 WallStreet reports. BMO Capital Markets currently has $67.00 target price on the oil and gas producer’s stock, down from their previous target price of $82.00.

A number of other research firms also recently issued reports on XEC. Robert W. Baird downgraded shares of Inflarx from an outperform rating to a neutral rating and reduced their price target for the company from $58.00 to $6.00 in a research report on Wednesday, June 5th. Morgan Stanley set a $23.00 price target on shares of Cabot Oil & Gas and gave the company a hold rating in a research report on Monday, June 24th. SunTrust Banks lifted their price target on shares of Perrigo to $51.00 and gave the company a hold rating in a research report on Monday, May 20th. Imperial Capital reiterated an outperform rating and set a $26.00 price target (up from $24.00) on shares of Resideo Technologies in a research report on Friday, May 10th. Finally, Wells Fargo & Co downgraded shares of Occidental Petroleum from an outperform rating to a market perform rating in a research report on Monday, May 20th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $97.95.

Shares of NYSE:XEC opened at $55.87 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.59 and a current ratio of 0.66. The firm has a market capitalization of $5.67 billion, a P/E ratio of 7.55 and a beta of 1.31. Cimarex Energy has a 52 week low of $53.45 and a 52 week high of $101.19. The firm has a 50-day moving average price of $57.82.

Cimarex Energy (NYSE:XEC) last announced its quarterly earnings data on Wednesday, May 8th. The oil and gas producer reported $1.20 EPS for the quarter, missing the Zacks’ consensus estimate of $1.37 by ($0.17). The firm had revenue of $577.00 million during the quarter, compared to analyst estimates of $581.51 million. Cimarex Energy had a net margin of 26.90% and a return on equity of 19.95%. Cimarex Energy’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.82 EPS. As a group, analysts predict that Cimarex Energy will post 5.94 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.43%. Cimarex Energy’s dividend payout ratio (DPR) is 10.81%.

Several institutional investors and hedge funds have recently modified their holdings of XEC. Valeo Financial Advisors LLC increased its stake in shares of Cimarex Energy by 319.8% during the 2nd quarter. Valeo Financial Advisors LLC now owns 487 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 371 shares in the last quarter. Quantamental Technologies LLC purchased a new position in shares of Cimarex Energy during the 1st quarter worth approximately $31,000. CSat Investment Advisory L.P. increased its stake in shares of Cimarex Energy by 77.7% during the 4th quarter. CSat Investment Advisory L.P. now owns 549 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 240 shares in the last quarter. Nvwm LLC increased its stake in shares of Cimarex Energy by 462.0% during the 1st quarter. Nvwm LLC now owns 517 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 425 shares in the last quarter. Finally, Bremer Bank National Association purchased a new position in shares of Cimarex Energy during the 1st quarter worth approximately $48,000. 93.28% of the stock is owned by institutional investors and hedge funds.

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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