Williams Capital Reiterates $129.00 Price Target for Cimarex Energy (XEC)

Williams Capital set a $129.00 target price on Cimarex Energy (NYSE:XEC) in a research report report published on Wednesday morning. The firm currently has a buy rating on the oil and gas producer’s stock.

A number of other research firms have also recently weighed in on XEC. Morgan Stanley dropped their target price on shares of Cimarex Energy from $135.00 to $124.00 and set an overweight rating on the stock in a research note on Thursday, July 12th. ValuEngine upgraded shares of Cimarex Energy from a strong sell rating to a sell rating in a research note on Tuesday, October 9th. Jefferies Financial Group set a $118.00 price target on shares of Cimarex Energy and gave the company a buy rating in a research note on Wednesday, July 18th. JPMorgan Chase & Co. cut shares of Cimarex Energy from an overweight rating to a neutral rating and set a $110.00 price target on the stock. in a research note on Wednesday, August 8th. Finally, Stifel Nicolaus set a $175.00 price target on shares of Cimarex Energy and gave the company a buy rating in a research note on Tuesday, August 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $130.67.

XEC opened at $90.32 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.27 and a current ratio of 1.34. The stock has a market capitalization of $7.93 billion, a price-to-earnings ratio of 19.42 and a beta of 1.04. Cimarex Energy has a twelve month low of $77.63 and a twelve month high of $130.16.

Cimarex Energy (NYSE:XEC) last released its earnings results on Tuesday, November 6th. The oil and gas producer reported $1.99 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.52 by $0.47. The firm had revenue of $591.50 million for the quarter, compared to analysts’ expectations of $561.67 million. Cimarex Energy had a net margin of 28.70% and a return on equity of 23.95%. The company’s quarterly revenue was up 27.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.09 earnings per share. As a group, research analysts anticipate that Cimarex Energy will post 6.95 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Thursday, November 15th will be paid a $0.18 dividend. The ex-dividend date is Wednesday, November 14th. This is a boost from Cimarex Energy’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 0.80%. Cimarex Energy’s dividend payout ratio is currently 13.76%.

In other news, Director Lisa A. Stewart bought 320 shares of the stock in a transaction on Thursday, August 30th. The shares were acquired at an average cost of $84.05 per share, for a total transaction of $26,896.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate 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 XEC. IFM Investors Pty Ltd increased its holdings in shares of Cimarex Energy by 13.6% in the 3rd quarter. IFM Investors Pty Ltd now owns 5,064 shares of the oil and gas producer’s stock worth $471,000 after buying an additional 606 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in shares of Cimarex Energy by 9.7% in the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 7,091 shares of the oil and gas producer’s stock worth $721,000 after buying an additional 628 shares during the last quarter. Toronto Dominion Bank increased its holdings in shares of Cimarex Energy by 1.0% in the 3rd quarter. Toronto Dominion Bank now owns 61,985 shares of the oil and gas producer’s stock worth $5,759,000 after buying an additional 637 shares during the last quarter. Front Row Advisors LLC increased its holdings in shares of Cimarex Energy by 26.9% in the 2nd quarter. Front Row Advisors LLC now owns 4,086 shares of the oil and gas producer’s stock worth $402,000 after buying an additional 865 shares during the last quarter. Finally, McCollum Christoferson Group LLC increased its holdings in shares of Cimarex Energy by 3.0% in the 2nd quarter. McCollum Christoferson Group LLC now owns 36,267 shares of the oil and gas producer’s stock worth $3,690,000 after buying an additional 1,060 shares during the last quarter. Institutional investors and hedge funds own 98.15% of the company’s stock.

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.

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