Shares of Cimarex Energy Co (NYSE:XEC) have been assigned an average rating of “Buy” from the twenty-four brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $101.87.

A number of equities research analysts recently weighed in on XEC shares. Imperial Capital reissued an “outperform” rating and issued a $83.00 price target (up from $79.00) on shares of Cimarex Energy in a research report on Friday, February 22nd. Morgan Stanley set a $101.00 price target on shares of Cimarex Energy and gave the company a “buy” rating in a research report on Friday, February 22nd. Evercore ISI cut shares of Cimarex Energy from an “outperform” rating to an “in-line” rating in a research report on Tuesday, March 12th. Capital One Financial cut shares of Cimarex Energy from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, March 20th. Finally, SunTrust Banks set a $75.00 price target on shares of Cimarex Energy and gave the company a “hold” rating in a research report on Tuesday, April 23rd.

In other Cimarex Energy news, Director Harold R. Logan, Jr. sold 990 shares of Cimarex Energy stock in a transaction on Friday, March 15th. The shares were sold at an average price of $70.00, for a total value of $69,300.00. Following the transaction, the director now directly owns 7,259 shares in the company, valued at $508,130. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.70% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Belpointe Asset Management LLC increased its stake in shares of Cimarex Energy by 21.1% during the first quarter. Belpointe Asset Management LLC now owns 3,424 shares of the oil and gas producer’s stock worth $239,000 after acquiring an additional 597 shares during the period. Cerebellum GP LLC acquired a new position in shares of Cimarex Energy during the first quarter worth about $339,000. Allstate Corp increased its stake in shares of Cimarex Energy by 4.4% during the first quarter. Allstate Corp now owns 22,825 shares of the oil and gas producer’s stock worth $1,595,000 after acquiring an additional 963 shares during the period. Nordea Investment Management AB increased its stake in shares of Cimarex Energy by 1.8% during the first quarter. Nordea Investment Management AB now owns 170,427 shares of the oil and gas producer’s stock worth $11,913,000 after acquiring an additional 3,070 shares during the period. Finally, Monarch Alternative Capital LP acquired a new position in shares of Cimarex Energy during the first quarter worth about $25,730,000. Institutional investors and hedge funds own 93.59% of the company’s stock.

XEC traded down $1.84 on Wednesday, reaching $54.37. The company had a trading volume of 1,872,511 shares, compared to its average volume of 1,451,298. Cimarex Energy has a 1 year low of $54.07 and a 1 year high of $103.91. The stock has a market cap of $5.59 billion, a PE ratio of 7.35 and a beta of 1.36. 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 announced its quarterly earnings results on Wednesday, May 8th. The oil and gas producer reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.17). Cimarex Energy had a net margin of 26.90% and a return on equity of 19.95%. The company had revenue of $577.00 million during the quarter, compared to analysts’ expectations of $581.51 million. During the same period last year, the firm earned $1.82 earnings per share. Cimarex Energy’s revenue was up 1.7% on a year-over-year basis. As a group, equities analysts expect that Cimarex Energy will post 6.08 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be paid a $0.20 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.47%. Cimarex Energy’s dividend payout ratio is presently 10.81%.

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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