Cimarex Energy (NYSE:XEC) Price Target Cut to $54.00

Cimarex Energy (NYSE:XEC) had its target price reduced by KeyCorp from $60.00 to $54.00 in a research report sent to investors on Tuesday, October 15th, BenzingaRatingsTable reports. They currently have an overweight rating on the oil and gas producer’s stock. KeyCorp also issued estimates for Cimarex Energy’s Q3 2019 earnings at $0.92 EPS, FY2019 earnings at $3.92 EPS and Q4 2020 earnings at $0.88 EPS.

A number of other research analysts also recently weighed in on XEC. Williams Capital reiterated a buy rating and set a $83.00 price target on shares of Cimarex Energy in a report on Monday, July 22nd. Bank of America lowered their price target on Cimarex Energy from $87.00 to $75.00 and set a buy rating on the stock in a report on Tuesday, August 6th. ValuEngine upgraded Cimarex Energy from a strong sell rating to a sell rating in a report on Wednesday, October 2nd. Imperial Capital lowered their price target on Cimarex Energy from $58.00 to $51.00 and set an in-line rating on the stock in a report on Wednesday, August 7th. Finally, Piper Jaffray Companies set a $68.00 price target on Cimarex Energy and gave the company a hold rating in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $73.94.

Shares of XEC traded up $0.61 during midday trading on Tuesday, reaching $46.54. The stock had a trading volume of 2,040,242 shares, compared to its average volume of 1,696,199. Cimarex Energy has a 52 week low of $37.19 and a 52 week high of $91.25. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.70 and a quick ratio of 0.57. The firm’s 50 day moving average price is $45.59 and its 200-day moving average price is $52.12. The company has a market capitalization of $4.68 billion, a P/E ratio of 6.29 and a beta of 1.32.

Cimarex Energy (NYSE:XEC) last announced its earnings results on Monday, November 4th. The oil and gas producer reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). The company had revenue of $582.31 million for the quarter, compared to analyst estimates of $575.31 million. Cimarex Energy had a return on equity of 13.02% and a net margin of 21.13%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the firm earned $1.99 earnings per share. On average, equities analysts forecast that Cimarex Energy will post 4.13 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.72%. Cimarex Energy’s dividend payout ratio is presently 10.81%.

Several hedge funds and other institutional investors have recently bought and sold shares of XEC. Parallel Advisors LLC raised its holdings in Cimarex Energy by 234.3% in the 3rd quarter. Parallel Advisors LLC now owns 555 shares of the oil and gas producer’s stock valued at $27,000 after acquiring an additional 389 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in Cimarex Energy by 319.8% in the 2nd quarter. Valeo Financial Advisors LLC now owns 487 shares of the oil and gas producer’s stock valued at $29,000 after acquiring an additional 371 shares in the last quarter. Advisory Services Network LLC raised its holdings in Cimarex Energy by 1,170.2% in the 2nd quarter. Advisory Services Network LLC now owns 597 shares of the oil and gas producer’s stock valued at $36,000 after acquiring an additional 550 shares in the last quarter. Signaturefd LLC raised its holdings in Cimarex Energy by 178.2% in the 3rd quarter. Signaturefd LLC now owns 971 shares of the oil and gas producer’s stock valued at $47,000 after acquiring an additional 622 shares in the last quarter. Finally, CSat Investment Advisory L.P. raised its holdings in Cimarex Energy by 84.5% in the 2nd quarter. CSat Investment Advisory L.P. now owns 1,127 shares of the oil and gas producer’s stock valued at $67,000 after acquiring an additional 516 shares in the last quarter. 95.99% 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.

See Also: Are we seeing the beginning of a new bubble?

Analyst Recommendations for Cimarex Energy (NYSE:XEC)

Receive News & Ratings for Cimarex Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cimarex Energy and related companies with MarketBeat.com's FREE daily email newsletter.