Cimarex Energy (XEC) Given New $140.00 Price Target at Morgan Stanley

Cimarex Energy (NYSE:XEC) had its price target reduced by Morgan Stanley from $157.00 to $140.00 in a research report sent to investors on Friday. They currently have an overweight rating on the oil and gas producer’s stock.

A number of other equities research analysts also recently issued reports on the stock. Piper Jaffray reissued a hold rating and issued a $138.00 price target on shares of Cimarex Energy in a research note on Tuesday, January 9th. Stifel Nicolaus reduced their price target on shares of Cimarex Energy from $188.00 to $185.00 and set a buy rating on the stock in a research note on Thursday, February 15th. Williams Capital set a $154.00 price target on shares of Cimarex Energy and gave the company a buy rating in a research note on Thursday, February 15th. KLR Group raised shares of Cimarex Energy from a hold rating to a buy rating and boosted their price target for the company from $138.00 to $142.00 in a research note on Tuesday, February 20th. Finally, Credit Suisse Group reduced their price target on shares of Cimarex Energy from $152.00 to $147.00 and set an outperform rating on the stock in a research note on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and nineteen have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $134.77.

Shares of XEC stock opened at $102.39 on Friday. The company has a current ratio of 1.38, a quick ratio of 1.30 and a debt-to-equity ratio of 0.58. Cimarex Energy has a 12 month low of $87.98 and a 12 month high of $130.16. The stock has a market cap of $9,602.03, a price-to-earnings ratio of 22.02 and a beta of 1.19.



Cimarex Energy (NYSE:XEC) last issued its earnings results on Wednesday, February 14th. The oil and gas producer reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.07. Cimarex Energy had a net margin of 25.77% and a return on equity of 18.73%. The company had revenue of $550.90 million for the quarter, compared to the consensus estimate of $537.74 million. During the same period in the previous year, the firm earned $0.60 earnings per share. Cimarex Energy’s quarterly revenue was up 44.1% compared to the same quarter last year. research analysts anticipate that Cimarex Energy will post 7.25 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Thursday, March 15th will be issued a $0.16 dividend. The ex-dividend date is Monday, May 14th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.63%. This is a boost from Cimarex Energy’s previous quarterly dividend of $0.08. Cimarex Energy’s payout ratio is 6.88%.

In related news, CEO Thomas E. Jorden sold 2,500 shares of Cimarex Energy stock in a transaction that occurred on Wednesday, April 18th. The shares were sold at an average price of $100.00, for a total value of $250,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harold R. Logan, Jr. sold 1,900 shares of Cimarex Energy stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $97.82, for a total transaction of $185,858.00. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Xact Kapitalforvaltning AB grew its holdings in Cimarex Energy by 17.8% during the 4th quarter. Xact Kapitalforvaltning AB now owns 9,926 shares of the oil and gas producer’s stock worth $1,211,000 after acquiring an additional 1,502 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Cimarex Energy by 36.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 12,007 shares of the oil and gas producer’s stock worth $1,465,000 after acquiring an additional 3,231 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Cimarex Energy by 2.2% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 53,007 shares of the oil and gas producer’s stock worth $6,467,000 after acquiring an additional 1,153 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. grew its holdings in Cimarex Energy by 57.3% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 4,940 shares of the oil and gas producer’s stock worth $603,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its holdings in Cimarex Energy by 16.9% during the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 60,900 shares of the oil and gas producer’s stock worth $7,430,000 after acquiring an additional 8,800 shares in the last quarter. Institutional investors own 92.30% of the company’s stock.

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About Cimarex Energy

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, 2017, it had a total proved oil and gas reserves of 3.35 trillion cubic feet equivalent (Tcfe) consisting of 1.61 trillion cubic feet of natural gas, 0.82 Tcfe of oil, and 0.92 Tcfe of natural gas liquids primarily located in the Mid-Continent and Permian Basin regions.

Analyst Recommendations for Cimarex Energy (NYSE:XEC)

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