Cimarex Energy Co (XEC) Lowered by Goldman Sachs Group Inc

Cimarex Energy Co (XEC) Lowered by Goldman Sachs Group Inc

Goldman Sachs Group Inc cut shares of Cimarex Energy Co (NYSE:XEC) from a buy rating to a neutral rating in a report issued on Tuesday. The firm currently has $133.00 target price on the oil and gas producer’s stock, down from their previous target price of $163.00.

A number of other equities analysts also recently commented on the stock. FBR & Co set a $141.00 price objective on shares of Cimarex Energy and gave the stock a buy rating in a report on Thursday, May 18th. Jefferies Group LLC set a $119.00 price objective on shares of Cimarex Energy and gave the stock a hold rating in a report on Wednesday, May 17th. KLR Group reaffirmed a buy rating and issued a $151.00 price objective (up previously from $149.00) on shares of Cimarex Energy in a report on Wednesday, May 17th. Barclays PLC reaffirmed an overweight rating and issued a $135.00 price objective (up previously from $129.00) on shares of Cimarex Energy in a report on Monday, May 15th. Finally, BMO Capital Markets set a $150.00 price objective on shares of Cimarex Energy and gave the stock a buy rating in a report on Monday, May 15th. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Cimarex Energy presently has an average rating of Buy and a consensus price target of $143.74.

Shares of Cimarex Energy (NYSE:XEC) opened at 107.25 on Tuesday. The firm’s market cap is $10.02 billion. The company’s 50-day moving average is $116.38 and its 200-day moving average is $127.01. Cimarex Energy has a 52 week low of $106.04 and a 52 week high of $146.96.

Cimarex Energy (NYSE:XEC) last released its quarterly earnings data on Wednesday, May 10th. The oil and gas producer reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.20. The firm had revenue of $447.20 million during the quarter, compared to the consensus estimate of $423.62 million. Cimarex Energy had a negative net margin of 92.69% and a negative return on equity of 0.59%. The firm’s revenue was up 85.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.40) earnings per share. Analysts forecast that Cimarex Energy will post $4.69 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Friday, August 11th. Cimarex Energy’s dividend payout ratio is currently -2.70%.

In related news, Director L Paul Teague sold 815 shares of Cimarex Energy stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $122.85, for a total transaction of $100,122.75. Following the sale, the director now directly owns 45,432 shares in the company, valued at $5,581,321.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Stephen P. Bell sold 5,000 shares of Cimarex Energy stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $117.24, for a total transaction of $586,200.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,353 shares of company stock worth $1,723,208. Company insiders own 2.00% of the company’s stock.

Several large investors have recently modified their holdings of XEC. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Cimarex Energy by 8.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 882 shares of the oil and gas producer’s stock worth $122,000 after buying an additional 69 shares in the last quarter. Global X Management Co. LLC boosted its stake in shares of Cimarex Energy by 14.1% in the first quarter. Global X Management Co. LLC now owns 1,103 shares of the oil and gas producer’s stock worth $132,000 after buying an additional 136 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Cimarex Energy during the first quarter worth $169,000. Virtus Investment Advisers Inc. bought a new stake in shares of Cimarex Energy during the third quarter worth $185,000. Finally, Winch Advisory Services LLC bought a new stake in shares of Cimarex Energy during the first quarter worth $186,000. Institutional investors and hedge funds own 92.22% of the company’s stock.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “XEC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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