Shares of Cimarex Energy Co (NYSE:XEC) have been given an average rating of “Buy” by the twenty-five ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and nineteen have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $141.15.
A number of research firms recently weighed in on XEC. UBS Group began coverage on Cimarex Energy in a research note on Wednesday, March 7th. They set a “buy” rating and a $118.00 price target on the stock. Credit Suisse Group reissued a “buy” rating and set a $129.00 price objective (down from $147.00) on shares of Cimarex Energy in a report on Monday, March 5th. Deutsche Bank started coverage on Cimarex Energy in a report on Thursday, February 1st. They set a “buy” rating and a $164.00 price objective for the company. Jefferies Group set a $117.00 price objective on Cimarex Energy and gave the stock a “hold” rating in a report on Wednesday, December 20th. Finally, BMO Capital Markets decreased their price objective on Cimarex Energy to $125.00 and set an “outperform” rating for the company in a report on Friday, February 16th.
Cimarex Energy (XEC) traded up $1.79 during mid-day trading on Friday, reaching $94.35. The company had a trading volume of 928,400 shares, compared to its average volume of 1,247,307. Cimarex Energy has a fifty-two week low of $89.49 and a fifty-two week high of $130.16. The company has a current ratio of 1.38, a quick ratio of 1.30 and a debt-to-equity ratio of 0.58. The firm has a market cap of $9,102.89, a P/E ratio of 18.18 and a beta of 1.25.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Thursday, March 15th will be issued a $0.16 dividend. The ex-dividend date is Monday, May 14th. This is a positive change from Cimarex Energy’s previous quarterly dividend of $0.08. This represents a $0.64 annualized dividend and a dividend yield of 0.68%. Cimarex Energy’s dividend payout ratio is currently 6.17%.
In other Cimarex Energy news, Director Harold R. Logan, Jr. sold 1,900 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $97.82, for a total transaction of $185,858.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas E. Jorden sold 2,500 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $122.88, for a total value of $307,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,400 shares of company stock valued at $1,283,578. 1.70% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Boston Partners grew its holdings in Cimarex Energy by 28.0% during the fourth quarter. Boston Partners now owns 1,812,143 shares of the oil and gas producer’s stock valued at $221,100,000 after purchasing an additional 395,877 shares during the period. Ameriprise Financial Inc. grew its holdings in Cimarex Energy by 41.8% during the third quarter. Ameriprise Financial Inc. now owns 1,623,569 shares of the oil and gas producer’s stock valued at $184,549,000 after purchasing an additional 478,543 shares during the period. Wells Fargo & Company MN grew its holdings in Cimarex Energy by 11.4% during the fourth quarter. Wells Fargo & Company MN now owns 1,506,133 shares of the oil and gas producer’s stock valued at $183,763,000 after purchasing an additional 153,665 shares during the period. Van ECK Associates Corp grew its holdings in Cimarex Energy by 2.6% during the third quarter. Van ECK Associates Corp now owns 1,280,335 shares of the oil and gas producer’s stock valued at $145,536,000 after purchasing an additional 32,188 shares during the period. Finally, Artisan Partners Limited Partnership lifted its position in shares of Cimarex Energy by 5.3% during the third quarter. Artisan Partners Limited Partnership now owns 1,143,856 shares of the oil and gas producer’s stock worth $130,022,000 after acquiring an additional 57,411 shares in the last quarter. 92.46% of the stock is owned by institutional investors and hedge funds.
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.
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