Cowen Analysts Give Cimarex Energy (XEC) a $165.00 Price Target

Cowen set a $165.00 price objective on Cimarex Energy (NYSE:XEC) in a research note issued to investors on Thursday morning. The firm currently has a buy rating on the oil and gas producer’s stock.

A number of other equities analysts have also issued reports on XEC. Stifel Nicolaus set a $168.00 price target on Cimarex Energy and gave the stock a buy rating in a report on Thursday, October 5th. Barclays raised their price target on Cimarex Energy from $117.00 to $132.00 and gave the stock an overweight rating in a report on Wednesday, October 11th. Citigroup reissued a buy rating and set a $120.00 price target on shares of Cimarex Energy in a report on Friday, October 13th. Williams Capital raised their price target on Cimarex Energy from $132.00 to $140.00 and gave the stock a buy rating in a report on Wednesday, October 18th. Finally, Morgan Stanley raised their price target on Cimarex Energy from $138.00 to $168.00 and gave the stock an overweight rating in a report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $138.05.

Shares of Cimarex Energy (NYSE XEC) opened at $124.04 on Thursday. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.62. Cimarex Energy has a 52-week low of $89.49 and a 52-week high of $142.88. The company has a market capitalization of $11,873.32, a PE ratio of 32.99 and a beta of 1.33.

Cimarex Energy (NYSE:XEC) last released its quarterly earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.12. Cimarex Energy had a return on equity of 16.11% and a net margin of 20.45%. The firm had revenue of $463.68 million for the quarter, compared to analyst estimates of $451.53 million. During the same quarter last year, the company posted $0.53 earnings per share. The business’s revenue was up 38.1% on a year-over-year basis. research analysts forecast that Cimarex Energy will post 4.41 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend is Wednesday, February 14th. Cimarex Energy’s dividend payout ratio is presently 8.51%.

In other Cimarex Energy news, VP Stephen P. Bell sold 3,696 shares of Cimarex Energy stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $125.11, for a total value of $462,406.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Lisa A. Stewart acquired 248 shares of the stock in a transaction on Friday, December 8th. The stock was acquired at an average cost of $112.06 per share, for a total transaction of $27,790.88. The disclosure for this purchase can be found here. Insiders sold a total of 32,264 shares of company stock worth $3,804,134 in the last ninety days. 1.70% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Trust Co. of Vermont boosted its stake in shares of Cimarex Energy by 6.9% during the 3rd quarter. Trust Co. of Vermont now owns 26,240 shares of the oil and gas producer’s stock worth $2,983,000 after acquiring an additional 1,692 shares in the last quarter. Elliott Management Corp purchased a new stake in shares of Cimarex Energy during the 2nd quarter worth approximately $288,000. IFM Investors Pty Ltd purchased a new stake in shares of Cimarex Energy during the 3rd quarter worth approximately $330,000. Commerce Bank boosted its stake in shares of Cimarex Energy by 28.7% during the 3rd quarter. Commerce Bank now owns 4,482 shares of the oil and gas producer’s stock worth $510,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Colony Group LLC boosted its stake in shares of Cimarex Energy by 38.7% during the 3rd quarter. Colony Group LLC now owns 22,154 shares of the oil and gas producer’s stock worth $2,518,000 after acquiring an additional 6,177 shares in the last quarter. 92.20% of the stock is currently owned by institutional investors.

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Cimarex Energy Company Profile

Cimarex Energy Co is an independent oil and gas exploration and production company. The Company operates in exploration and production (E&P) segment. Its operations are located in Oklahoma, Texas and New Mexico. Its E&P activities take place primarily in two areas: the Permian Basin and the Mid-Continent region.

Analyst Recommendations for Cimarex Energy (NYSE:XEC)

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