Cimarex Energy (XEC) Lowered to “Strong Sell” at ValuEngine

ValuEngine lowered shares of Cimarex Energy (NYSE:XEC) from a sell rating to a strong sell rating in a research report sent to investors on Tuesday morning.

A number of other equities analysts have also recently weighed in on XEC. Williams Capital reiterated a buy rating and set a $134.00 price target on shares of Cimarex Energy in a report on Wednesday, August 8th. Stifel Nicolaus set a $175.00 price target on Cimarex Energy and gave the stock a buy rating in a report on Tuesday, August 7th. Morgan Stanley lowered their price target on Cimarex Energy from $135.00 to $124.00 and set an overweight rating for the company in a report on Thursday, July 12th. SunTrust Banks cut Cimarex Energy from a buy rating to a hold rating and set a $94.00 price target for the company. in a report on Friday, September 7th. Finally, Piper Jaffray Companies initiated coverage on Cimarex Energy in a report on Friday, September 28th. They set a neutral rating for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $130.67.

Shares of XEC opened at $81.93 on Tuesday. Cimarex Energy has a 52-week low of $79.90 and a 52-week high of $130.16. The firm has a market capitalization of $7.90 billion, a price-to-earnings ratio of 13.87 and a beta of 0.97. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.34 and a quick ratio of 1.27.

Cimarex Energy (NYSE:XEC) last issued its earnings results on Tuesday, August 7th. The oil and gas producer reported $1.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.05). Cimarex Energy had a return on equity of 21.47% and a net margin of 27.75%. The company had revenue of $556.27 million during the quarter, compared to analyst estimates of $557.26 million. On average, sell-side analysts forecast that Cimarex Energy will post 6.87 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.88%. This is a boost from Cimarex Energy’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Wednesday, November 14th. Cimarex Energy’s dividend payout ratio (DPR) is 13.76%.

In other news, Director Lisa A. Stewart bought 320 shares of the stock in a transaction that occurred on Thursday, August 30th. The stock was bought 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 SEC, which is available through the SEC website. Company insiders own 1.70% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Mount Yale Investment Advisors LLC purchased a new position in Cimarex Energy during the 2nd quarter valued at about $115,000. Summit Trail Advisors LLC boosted its holdings in Cimarex Energy by 5,454.0% during the 1st quarter. Summit Trail Advisors LLC now owns 120,466 shares of the oil and gas producer’s stock valued at $120,000 after acquiring an additional 118,297 shares during the period. Point72 Hong Kong Ltd purchased a new position in Cimarex Energy during the 2nd quarter valued at about $161,000. Eagle Boston Investment Management Inc. purchased a new position in Cimarex Energy during the 2nd quarter valued at about $204,000. Finally, Delta Capital Management LLC purchased a new position in Cimarex Energy during the 2nd quarter valued at about $207,000. Institutional investors own 99.29% 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.

See Also: Intrinsic Value and Stock Selection

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Analyst Recommendations for Cimarex Energy (NYSE:XEC)

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