Cimarex Energy Co (NYSE:XEC) declared a quarterly dividend on Thursday, August 30th, RTT News reports. Shareholders of record on Thursday, November 15th will be paid a dividend of 0.18 per share by the oil and gas producer on Friday, November 30th. This represents a $0.72 dividend on an annualized basis and a yield of 0.85%. This is a boost from Cimarex Energy’s previous quarterly dividend of $0.16.
Cimarex Energy has decreased its dividend payment by an average of 19.8% annually over the last three years. Cimarex Energy has a payout ratio of 9.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cimarex Energy to earn $7.88 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 8.1%.
NYSE XEC traded up $1.15 on Thursday, reaching $84.98. The stock had a trading volume of 800,600 shares, compared to its average volume of 1,403,912. 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 has a 1 year low of $80.53 and a 1 year high of $130.16. The company has a market capitalization of $8.03 billion, a P/E ratio of 18.32 and a beta of 1.00.
Cimarex Energy (NYSE:XEC) last issued its earnings results on Tuesday, August 7th. The oil and gas producer reported $1.59 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.05). Cimarex Energy had a net margin of 27.75% and a return on equity of 21.47%. The firm had revenue of $556.27 million during the quarter, compared to analysts’ expectations of $557.26 million. equities analysts anticipate that Cimarex Energy will post 6.92 EPS for the current year.
A number of research analysts have commented on the company. ValuEngine upgraded Cimarex Energy from a “strong sell” rating to a “sell” rating in a research note on Monday, June 18th. Imperial Capital decreased their price target on Cimarex Energy from $156.00 to $128.00 and set an “outperform” rating for the company in a research note on Thursday, August 9th. Williams Capital set a $129.00 price target on Cimarex Energy and gave the stock a “buy” rating in a research note on Monday, August 20th. Credit Suisse Group downgraded Cimarex Energy from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 9th. Finally, Morgan Stanley decreased their price target on Cimarex Energy from $124.00 to $123.00 and set an “overweight” rating for the company in a research note on Thursday, August 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the stock. Cimarex Energy has a consensus rating of “Buy” and a consensus target price of $132.33.
In other Cimarex Energy news, Director Lisa A. Stewart bought 722 shares of the firm’s stock in a transaction that occurred on Friday, June 1st. The stock was purchased at an average price of $89.98 per share, for a total transaction of $64,965.56. Following the purchase, the director now directly owns 6,576 shares in the company, valued at $591,708.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Joseph R. Albi sold 1,750 shares of the stock in a transaction that occurred on Wednesday, June 27th. The shares were sold at an average price of $100.10, for a total value of $175,175.00. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.
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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