Cimarex Energy (XEC) Price Target Raised to $127.00 at Morgan Stanley

Cimarex Energy (NYSE:XEC) had its price target lifted by Morgan Stanley from $124.00 to $127.00 in a research note published on Tuesday morning. The firm currently has a buy rating on the oil and gas producer’s stock.

A number of other equities research analysts also recently commented on XEC. Williams Capital set a $129.00 price objective on Cimarex Energy and gave the company a buy rating in a research report on Monday, November 19th. ValuEngine downgraded Cimarex Energy from a sell rating to a strong sell rating in a research report on Wednesday, August 8th. Imperial Capital reiterated an in-line rating on shares of Cimarex Energy in a research report on Tuesday. Credit Suisse Group downgraded Cimarex Energy from an outperform rating to a neutral rating in a research report on Thursday, August 9th. Finally, KLR Group reiterated a buy rating and set a $117.00 price objective on shares of Cimarex Energy in a research report on Monday, August 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $130.25.

Shares of NYSE:XEC opened at $79.95 on Tuesday. Cimarex Energy has a one year low of $77.63 and a one year high of $130.16. The firm has a market cap of $8.02 billion, a PE ratio of 17.19 and a beta of 1.04. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.69 and a quick ratio of 1.62.

Cimarex Energy (NYSE:XEC) last announced its quarterly earnings data on Tuesday, November 6th. The oil and gas producer reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.47. Cimarex Energy had a return on equity of 23.33% and a net margin of 28.70%. The company had revenue of $591.50 million during the quarter, compared to the consensus estimate of $561.67 million. During the same quarter in the prior year, the firm earned $1.09 EPS. The company’s quarterly revenue was up 27.6% compared to the same quarter last year. On average, equities research analysts expect that Cimarex Energy will post 7.17 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Thursday, November 15th will be issued a $0.18 dividend. The ex-dividend date is Wednesday, November 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.90%. This is a positive change from Cimarex Energy’s previous quarterly dividend of $0.16. Cimarex Energy’s dividend payout ratio is presently 15.48%.

In other Cimarex Energy news, Director Lisa A. Stewart bought 320 shares of Cimarex Energy stock in a transaction dated Thursday, August 30th. The stock was bought at an average price of $84.05 per share, for a total transaction of $26,896.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mount Yale Investment Advisors LLC acquired a new position in shares of Cimarex Energy in the second quarter worth $115,000. JNBA Financial Advisors acquired a new position in shares of Cimarex Energy in the third quarter worth $143,000. Point72 Hong Kong Ltd acquired a new position in shares of Cimarex Energy in the second quarter worth $161,000. Eagle Boston Investment Management Inc. acquired a new position in shares of Cimarex Energy in the second quarter worth $204,000. Finally, Cue Financial Group Inc. acquired a new position in shares of Cimarex Energy in the second quarter worth $241,000. Institutional investors own 98.47% of the company’s stock.

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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