Cimarex Energy (XEC) PT Set at $117.00 by Jefferies Financial Group

Jefferies Financial Group set a $117.00 target price on Cimarex Energy (NYSE:XEC) in a research note published on Tuesday morning. The brokerage currently has a buy rating on the oil and gas producer’s stock. Jefferies Financial Group also issued estimates for Cimarex Energy’s Q1 2019 earnings at $2.03 EPS, Q2 2019 earnings at $1.97 EPS, Q3 2019 earnings at $2.02 EPS, Q4 2019 earnings at $2.56 EPS, FY2019 earnings at $8.58 EPS, Q1 2020 earnings at $3.05 EPS, Q2 2020 earnings at $2.98 EPS, Q3 2020 earnings at $3.11 EPS and FY2020 earnings at $12.59 EPS.

Other analysts have also recently issued reports about the company. Credit Suisse Group cut their target price on Cimarex Energy from $116.00 to $112.00 and set a buy rating on the stock in a research note on Wednesday, August 8th. Williams Capital reissued a buy rating and issued a $134.00 target price on shares of Cimarex Energy in a research note on Wednesday, August 8th. Stifel Nicolaus set a $175.00 target price on Cimarex Energy and gave the stock a buy rating in a research note on Tuesday, August 7th. KLR Group reissued a buy rating and issued a $117.00 target price on shares of Cimarex Energy in a research note on Monday, August 20th. Finally, Morgan Stanley cut their target price on Cimarex Energy from $123.00 to $118.00 and set a buy rating on the stock in a research note on Wednesday, September 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $130.25.

Shares of NYSE:XEC opened at $79.95 on Tuesday. Cimarex Energy has a 12-month low of $77.63 and a 12-month high of $130.16. The stock has a market cap of $8.02 billion, a PE ratio of 17.19 and a beta of 1.04. The company has a current ratio of 1.69, a quick ratio of 1.62 and a debt-to-equity ratio of 0.49.

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

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

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

A number of institutional investors and hedge funds have recently modified their holdings of XEC. Capital International Investors purchased a new position in shares of Cimarex Energy during the third quarter valued at approximately $418,230,000. Boston Partners lifted its holdings in shares of Cimarex Energy by 211.8% during the second quarter. Boston Partners now owns 4,978,018 shares of the oil and gas producer’s stock valued at $506,463,000 after purchasing an additional 3,381,576 shares during the last quarter. Caymus Capital Partners L.P. purchased a new position in shares of Cimarex Energy during the third quarter valued at approximately $43,577,000. Victory Capital Management Inc. lifted its holdings in shares of Cimarex Energy by 24.6% during the second quarter. Victory Capital Management Inc. now owns 2,220,671 shares of the oil and gas producer’s stock valued at $225,931,000 after purchasing an additional 437,851 shares during the last quarter. Finally, Brown Advisory Inc. purchased a new position in shares of Cimarex Energy during the third quarter valued at approximately $35,113,000. Institutional investors and hedge funds 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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