Cimarex Energy Co (NYSE:XEC) declared a quarterly dividend on Thursday, December 6th, RTT News reports. Investors of record on Friday, February 15th will be given 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 0.95%.
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 10.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cimarex Energy to earn $8.04 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 9.0%.
Shares of NYSE:XEC traded down $5.52 during trading on Thursday, reaching $75.40. 2,744,089 shares of the stock were exchanged, compared to its average volume of 1,432,960. Cimarex Energy has a 12 month low of $73.01 and a 12 month high of $130.16. The stock has a market cap of $7.74 billion, a PE ratio of 16.22 and a beta of 1.10. The company has a quick ratio of 1.62, a current ratio of 1.69 and a debt-to-equity ratio of 0.49.
XEC has been the topic of several analyst reports. Morgan Stanley boosted their price objective on shares of Cimarex Energy from $124.00 to $127.00 and gave the stock a “buy” rating in a research note on Tuesday, November 20th. Cowen assumed coverage on shares of Cimarex Energy in a research report on Thursday, November 29th. They set a “market perform” rating and a $95.00 price target on the stock. Credit Suisse Group cut shares of Cimarex Energy from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 9th. Imperial Capital cut their price objective on shares of Cimarex Energy from $156.00 to $128.00 and set an “outperform” rating on the stock in a research report on Thursday, August 9th. Finally, Jefferies Financial Group set a $117.00 target price on shares of Cimarex Energy and gave the stock a “buy” rating in a report on Tuesday, November 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $125.00.
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.
See Also: Retained Earnings
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