Cimarex Energy Co. (XEC) Receives $127.48 Consensus PT from Analysts
Shares of Cimarex Energy Co. (NYSE:XEC) have received a consensus rating of “Buy” from the twenty-six ratings firms that are currently covering the firm. Two research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $127.48.
Several brokerages have issued reports on XEC. Jefferies Group set a $116.00 price objective on shares of Cimarex Energy and gave the stock a “sell” rating in a research note on Tuesday, October 18th. KLR Group raised shares of Cimarex Energy from a “hold” rating to an “accumulate” rating and lifted their price target for the company from $143.00 to $152.00 in a research note on Monday, November 7th. Nomura reaffirmed a “hold” rating and set a $129.00 price target on shares of Cimarex Energy in a research note on Monday, November 7th. Canaccord Genuity decreased their price target on shares of Cimarex Energy from $112.00 to $94.00 and set a “hold” rating for the company in a research note on Thursday, August 11th. Finally, Deutsche Bank AG lifted their price target on shares of Cimarex Energy from $120.00 to $140.00 and gave the company a “hold” rating in a research note on Wednesday, August 10th.
Cimarex Energy (NYSE:XEC) opened at 125.79 on Tuesday. The company’s market capitalization is $11.95 billion. The company has a 50-day moving average price of $132.39 and a 200 day moving average price of $124.04. Cimarex Energy has a 52-week low of $72.77 and a 52-week high of $142.20.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.25%. Cimarex Energy’s dividend payout ratio (DPR) is currently -2.70%.
In other Cimarex Energy news, VP Gary R. Abbott sold 7,500 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $132.00, for a total value of $990,000.00. Following the completion of the transaction, the vice president now owns 104,072 shares in the company, valued at $13,737,504. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Thomas E. Jorden sold 2,500 shares of the company’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $131.19, for a total transaction of $327,975.00. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of XEC. NEXT Financial Group Inc boosted its stake in Cimarex Energy by 120.0% in the third quarter. NEXT Financial Group Inc now owns 770 shares of the company’s stock worth $103,000 after buying an additional 420 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Cimarex Energy by 537.1% in the third quarter. Tower Research Capital LLC TRC now owns 790 shares of the company’s stock worth $106,000 after buying an additional 666 shares in the last quarter. Societe Generale bought a new stake in Cimarex Energy during the second quarter worth approximately $128,000. Point72 Asia Hong Kong Ltd bought a new stake in Cimarex Energy during the second quarter worth approximately $131,000. Finally, Global X Management Co. LLC boosted its stake in Cimarex Energy by 80.3% in the third quarter. Global X Management Co. LLC now owns 1,064 shares of the company’s stock worth $143,000 after buying an additional 474 shares in the last quarter. Institutional investors and hedge funds own 92.77% of the company’s stock.
Cimarex Energy Company Profile
Cimarex Energy Co is an independent oil and gas exploration and production company. The Company’s segment is exploration and production. Its operations are located mainly in Oklahoma, Texas and New Mexico. Its operations are focused in approximately two main areas, such as the Permian Basin and the Mid-Continent region.
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