Cimarex Energy (XEC) Given a $124.00 Price Target by Morgan Stanley Analysts

Morgan Stanley set a $124.00 price objective on Cimarex Energy (NYSE:XEC) in a research note published on Friday. The firm currently has a buy rating on the oil and gas producer’s stock.

Other analysts have also recently issued reports about the company. Williams Capital restated a buy rating and set a $134.00 price objective on shares of Cimarex Energy in a research report on Wednesday, August 8th. Credit Suisse Group cut Cimarex Energy from an outperform rating to a neutral rating in a research report on Thursday, August 9th. Piper Jaffray Companies restated a hold rating and set a $147.00 price objective on shares of Cimarex Energy in a research report on Friday, July 20th. Imperial Capital lowered their price objective on Cimarex Energy from $156.00 to $128.00 and set an outperform rating on the stock in a research report on Thursday, August 9th. Finally, Bank of America upgraded Cimarex Energy from a neutral rating to a buy rating in a research report on Thursday, June 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have assigned a buy rating to the company. Cimarex Energy currently has a consensus rating of Buy and a consensus target price of $130.67.

Shares of XEC traded down $1.53 on Friday, reaching $93.03. 1,889,397 shares of the stock traded hands, compared to its average volume of 1,395,063. The stock has a market cap of $8.86 billion, a PE ratio of 20.01 and a beta of 0.96. The company has a current ratio of 1.34, a quick ratio of 1.27 and a debt-to-equity ratio of 0.52. Cimarex Energy has a 12 month low of $80.53 and a 12 month high of $130.16.

Cimarex Energy (NYSE:XEC) last released its quarterly earnings data on Tuesday, August 7th. The oil and gas producer reported $1.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.05). The firm had revenue of $556.27 million for the quarter, compared to the consensus estimate of $557.26 million. Cimarex Energy had a net margin of 27.75% and a return on equity of 21.47%. Equities analysts forecast that Cimarex Energy will post 6.74 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Thursday, November 15th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.77%. This is a boost from Cimarex Energy’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Wednesday, November 14th. Cimarex Energy’s dividend payout ratio is 13.76%.

In related news, Director Lisa A. Stewart purchased 320 shares of the stock in a transaction on Thursday, August 30th. The shares were purchased at an average cost of $84.05 per share, for a total transaction of $26,896.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Mount Yale Investment Advisors LLC acquired a new position in shares of Cimarex Energy during the second quarter valued at $115,000. Summit Trail Advisors LLC lifted its stake in shares of Cimarex Energy by 5,454.0% during the first quarter. Summit Trail Advisors LLC now owns 120,466 shares of the oil and gas producer’s stock valued at $120,000 after acquiring an additional 118,297 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Cimarex Energy during the second quarter valued at $161,000. Rampart Investment Management Company LLC lifted its stake in shares of Cimarex Energy by 77.3% during the first quarter. Rampart Investment Management Company LLC now owns 2,073 shares of the oil and gas producer’s stock valued at $194,000 after acquiring an additional 904 shares during the period. Finally, Eagle Boston Investment Management Inc. acquired a new position in shares of Cimarex Energy during the second quarter valued at $204,000. 94.95% of the stock is currently owned by institutional investors.

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, 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.

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Analyst Recommendations for Cimarex Energy (NYSE:XEC)

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