Cimarex Energy Co (NYSE:XEC) announced a quarterly dividend on Thursday, December 6th, RTT News reports. Shareholders of record on Friday, February 15th will be paid a dividend of 0.18 per share by the oil and gas producer on Friday, March 1st. This represents a $0.72 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Thursday, February 14th.
Cimarex Energy has decreased its dividend payment by an average of 3.2% per year over the last three years. Cimarex Energy has a dividend payout ratio of 10.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Cimarex Energy to earn $6.16 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 11.7%.
Shares of XEC opened at $72.90 on Wednesday. The firm has a market cap of $6.75 billion, a price-to-earnings ratio of 15.68 and a beta of 1.45. The company has a quick ratio of 1.62, a current ratio of 1.69 and a debt-to-equity ratio of 0.49. Cimarex Energy has a 1-year low of $55.62 and a 1-year high of $103.91.
In related news, Director Michael J/Co Sullivan sold 1,492 shares of the company’s stock in a transaction on Friday, December 14th. The shares were sold at an average price of $70.22, for a total value of $104,768.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.70% of the company’s stock.
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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, 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.
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