Cimarex Energy (XEC) Given a $117.00 Price Target by Jefferies Group Analysts

Jefferies Group set a $117.00 target price on Cimarex Energy (NYSE:XEC) in a report issued on Wednesday morning. The brokerage currently has a hold rating on the oil and gas producer’s stock.

Several other equities research analysts have also recently commented on XEC. BidaskClub raised shares of Cimarex Energy from a strong sell rating to a sell rating in a research report on Thursday, August 24th. Cowen set a $135.00 price target on shares of Cimarex Energy and gave the stock a buy rating in a research report on Friday, August 25th. Piper Jaffray Companies cut their price target on shares of Cimarex Energy from $141.00 to $116.00 and set a neutral rating on the stock in a research report on Monday, September 18th. Imperial Capital initiated coverage on shares of Cimarex Energy in a research report on Tuesday, September 19th. They set an outperform rating and a $135.00 price target on the stock. Finally, Stifel Nicolaus set a $168.00 price target on shares of Cimarex Energy and gave the stock a buy rating in a research report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $136.71.

Shares of Cimarex Energy (NYSE XEC) traded up $1.83 during trading hours on Wednesday, reaching $114.88. 1,351,500 shares of the company’s stock traded hands, compared to its average volume of 1,041,110. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 0.62. Cimarex Energy has a 52-week low of $89.49 and a 52-week high of $144.30. The company has a market cap of $10,970.00, a PE ratio of 29.75 and a beta of 1.34.

Cimarex Energy (NYSE:XEC) last issued its quarterly earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 EPS for the quarter, topping the 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 firm had revenue of $463.68 million for the quarter, compared to analysts’ expectations of $451.53 million. During the same period in the previous year, the firm posted $0.53 EPS. The company’s revenue for the quarter was up 38.1% on a year-over-year basis. research analysts expect that Cimarex Energy will post 4.37 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. Cimarex Energy’s payout ratio is 8.00%.

In related news, Director L Paul Teague sold 3,248 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $125.03, for a total value of $406,097.44. Following the transaction, the director now owns 41,146 shares in the company, valued at approximately $5,144,484.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Thomas E. Jorden sold 2,500 shares of the company’s 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,764 shares of company stock worth $3,496,934. 1.70% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Cimarex Energy by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 9,899,309 shares of the oil and gas producer’s stock valued at $930,634,000 after buying an additional 64,420 shares during the last quarter. BlackRock Inc. grew its position in shares of Cimarex Energy by 5.2% during the 2nd quarter. BlackRock Inc. now owns 7,512,811 shares of the oil and gas producer’s stock worth $706,278,000 after purchasing an additional 371,390 shares in the last quarter. State Street Corp grew its position in shares of Cimarex Energy by 3.0% during the 2nd quarter. State Street Corp now owns 5,458,745 shares of the oil and gas producer’s stock worth $513,162,000 after purchasing an additional 157,612 shares in the last quarter. FMR LLC grew its position in shares of Cimarex Energy by 1.4% during the 2nd quarter. FMR LLC now owns 4,224,735 shares of the oil and gas producer’s stock worth $397,166,000 after purchasing an additional 59,537 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Cimarex Energy by 41.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,623,569 shares of the oil and gas producer’s stock worth $184,549,000 after purchasing an additional 478,543 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

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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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