Cimarex Energy Co (XEC) Rating Lowered to Neutral at UBS AG
UBS AG downgraded shares of Cimarex Energy Co (NYSE:XEC) from a positive rating to a neutral rating in a report published on Monday morning, The Fly reports.
A number of other research analysts have also recently weighed in on the stock. Capital One Financial Corporation restated an overweight rating on shares of Cimarex Energy in a research note on Wednesday, November 8th. Imperial Capital lifted their target price on shares of Cimarex Energy from $135.00 to $141.00 and gave the company an outperform rating in a research note on Thursday, November 9th. SunTrust Banks, Inc. lifted their target price on shares of Cimarex Energy to $127.00 and gave the company a hold rating in a research note on Thursday, November 9th. KeyCorp restated a buy rating on shares of Cimarex Energy in a research note on Wednesday, November 8th. Finally, Morgan Stanley lifted their target price on shares of Cimarex Energy from $138.00 to $168.00 and gave the company an overweight rating in a research note on Wednesday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $136.62.
Cimarex Energy (NYSE:XEC) opened at $115.61 on Monday. The firm has a market cap of $11,005.49, a price-to-earnings ratio of 30.40 and a beta of 1.35. Cimarex Energy has a one year low of $89.49 and a one year high of $146.96. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.42 and a current ratio of 1.51.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.12. Cimarex Energy had a net margin of 20.45% and a return on equity of 16.11%. The business had revenue of $463.68 million for the quarter, compared to analysts’ expectations of $451.53 million. During the same quarter last year, the company posted $0.53 EPS. The company’s revenue was up 38.1% compared to the same quarter last year. equities research analysts forecast that Cimarex Energy will post 4.31 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. Cimarex Energy’s dividend payout ratio is presently 8.51%.
In related news, CEO Thomas E. Jorden sold 2,500 shares of Cimarex Energy stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $125.10, for a total transaction of $312,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director L Paul Teague sold 3,248 shares of Cimarex Energy stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $125.03, for a total transaction of $406,097.44. Following the transaction, the director now directly owns 41,146 shares of the company’s stock, valued at $5,144,484.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,107 shares of company stock valued at $2,918,092. 1.70% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Turner Investments LLC purchased a new position in shares of Cimarex Energy during the 2nd quarter worth about $100,000. Advisor Group Inc. boosted its stake in shares of Cimarex Energy by 5.3% during the 2nd quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock worth $113,000 after purchasing an additional 60 shares during the period. Global X Management Co. LLC boosted its stake in shares of Cimarex Energy by 14.7% during the 2nd quarter. Global X Management Co. LLC now owns 1,265 shares of the oil and gas producer’s stock worth $119,000 after purchasing an additional 162 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Cimarex Energy by 0.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 1,427 shares of the oil and gas producer’s stock worth $134,000 after purchasing an additional 10 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in shares of Cimarex Energy by 8.3% during the 2nd quarter. Pacer Advisors Inc. now owns 1,935 shares of the oil and gas producer’s stock worth $182,000 after purchasing an additional 148 shares during the period. 91.05% of the stock is owned by hedge funds and other institutional investors.
About Cimarex Energy
Cimarex Energy Co is an independent oil and gas exploration and production company. The Company operates in exploration and production (E&P) segment. Its operations are located in Oklahoma, Texas and New Mexico. Its E&P activities take place primarily in two areas: the Permian Basin and the Mid-Continent region.
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