Cimarex Energy (NYSE:XEC) Given New $65.00 Price Target at Wells Fargo & Co

Cimarex Energy (NYSE:XEC) had its price objective upped by Wells Fargo & Co from $64.00 to $65.00 in a report released on Friday, BenzingaRatingsTable reports. Wells Fargo & Co currently has a market perform rating on the oil and gas producer’s stock.

Several other equities analysts also recently commented on the company. Piper Jaffray Companies set a $68.00 target price on Cimarex Energy and gave the company a hold rating in a research report on Friday, August 16th. KeyCorp began coverage on Cimarex Energy in a research report on Thursday, June 27th. They issued an overweight rating and a $66.00 target price for the company. Citigroup dropped their target price on Cimarex Energy from $90.00 to $85.00 and set a buy rating for the company in a research report on Thursday, August 15th. Williams Capital reiterated a buy rating and issued a $83.00 target price on shares of Cimarex Energy in a research report on Monday, July 22nd. Finally, Morgan Stanley dropped their target price on Cimarex Energy from $81.00 to $57.00 and set an overweight rating for the company in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $75.67.

NYSE:XEC opened at $50.79 on Friday. The stock’s 50-day simple moving average is $43.61 and its 200 day simple moving average is $57.71. The firm has a market capitalization of $5.16 billion, a PE ratio of 6.86 and a beta of 1.33. The company has a quick ratio of 0.57, a current ratio of 0.64 and a debt-to-equity ratio of 0.56. Cimarex Energy has a twelve month low of $37.19 and a twelve month high of $101.19.



Cimarex Energy (NYSE:XEC) last released its quarterly earnings data on Monday, August 5th. The oil and gas producer reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.38). The business had revenue of $546.46 million during the quarter, compared to analyst estimates of $594.90 million. Cimarex Energy had a net margin of 25.66% and a return on equity of 16.59%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period last year, the business earned $1.59 earnings per share. On average, analysts anticipate that Cimarex Energy will post 4.59 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.58%. Cimarex Energy’s dividend payout ratio (DPR) is 10.81%.

Several institutional investors and hedge funds have recently modified their holdings of XEC. Valeo Financial Advisors LLC raised its position in shares of Cimarex Energy by 319.8% during the second quarter. Valeo Financial Advisors LLC now owns 487 shares of the oil and gas producer’s stock worth $29,000 after acquiring an additional 371 shares during the last quarter. Nvwm LLC raised its position in shares of Cimarex Energy by 462.0% during the first quarter. Nvwm LLC now owns 517 shares of the oil and gas producer’s stock worth $36,000 after acquiring an additional 425 shares during the last quarter. Advisory Services Network LLC raised its position in shares of Cimarex Energy by 1,170.2% during the second quarter. Advisory Services Network LLC now owns 597 shares of the oil and gas producer’s stock worth $36,000 after acquiring an additional 550 shares during the last quarter. Bremer Bank National Association bought a new position in shares of Cimarex Energy during the first quarter worth about $48,000. Finally, CSat Investment Advisory L.P. raised its position in shares of Cimarex Energy by 84.5% during the second quarter. CSat Investment Advisory L.P. now owns 1,127 shares of the oil and gas producer’s stock worth $67,000 after acquiring an additional 516 shares during the last quarter. Institutional investors own 96.08% of the company’s stock.

About Cimarex Energy

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, 2018, it had a total proved reserves of 591.2 million barrels of oil equivalent, consisting of 1.59 trillion cubic feet of natural gas; 146.5 million barrels (MMBbls) of oil; and 179.4 MMBbls of natural gas liquids primarily located in the Permian Basin and Mid-Continent regions.

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Analyst Recommendations for Cimarex Energy (NYSE:XEC)

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