Cimarex Energy Co. (XEC) Shares Gap Up to $129.26
Cimarex Energy Co. (NYSE:XEC)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $128.86, but opened at $129.26. Cimarex Energy shares last traded at $131.50, with a volume of 239,192 shares changing hands.
XEC has been the topic of several research reports. Wunderlich upped their price target on Cimarex Energy from $105.00 to $122.00 and gave the company a “buy” rating in a research report on Friday, May 6th. Stifel Nicolaus upped their price target on Cimarex Energy from $120.00 to $142.00 and gave the company a “buy” rating in a research report on Wednesday, July 13th. Zacks Investment Research raised Cimarex Energy from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a research report on Tuesday, July 12th. Citigroup Inc. upped their price target on Cimarex Energy from $127.00 to $149.00 and gave the company a “buy” rating in a research report on Thursday, August 11th. Finally, Canaccord Genuity reissued a “hold” rating and set a $89.00 price target on shares of Cimarex Energy in a research report on Wednesday, July 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company. Cimarex Energy presently has an average rating of “Hold” and an average price target of $115.96.
The firm’s market capitalization is $12.48 billion. The company has a 50 day moving average price of $121.37 and a 200 day moving average price of $107.90.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.18. During the same quarter in the previous year, the firm posted $0.15 EPS. The business earned $298.90 million during the quarter, compared to the consensus estimate of $279.22 million. The company’s revenue for the quarter was down 29.6% compared to the same quarter last year. Equities research analysts predict that Cimarex Energy Co. will post $0.61 earnings per share for the current fiscal year.
In other Cimarex Energy news, COO Joseph R. Albi sold 1,250 shares of Cimarex Energy stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $120.00, for a total value of $150,000.00. Following the completion of the transaction, the chief operating officer now owns 118,461 shares in the company, valued at approximately $14,215,320. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Thomas E. Jorden sold 2,500 shares of Cimarex Energy stock in a transaction on Friday, July 1st. The shares were sold at an average price of $119.87, for a total value of $299,675.00. The disclosure for this sale can be found here.
A number of institutional investors have modified their holdings of the stock. Schwab Charles Investment Management Inc. increased its position in shares of Cimarex Energy by 3.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 248,184 shares of the company’s stock valued at $22,183,000 after buying an additional 7,542 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Cimarex Energy during the fourth quarter worth $15,829,000. Coe Capital Management LLC purchased a new stake in Cimarex Energy during the fourth quarter worth $1,073,000. Airain ltd purchased a new stake in Cimarex Energy during the fourth quarter worth $1,439,000. Finally, KBC Group NV increased its stake in Cimarex Energy by 36.0% in the fourth quarter. KBC Group NV now owns 29,556 shares of the company’s stock worth $2,642,000 after buying an additional 7,817 shares during the last quarter.
Cimarex Energy Co is an independent oil and gas exploration and production company. The Company’s segment is exploration and production. Its operations are located mainly in Oklahoma, Texas and New Mexico. Its operations are focused in approximately two main areas, such as the Permian Basin and the Mid-Continent region.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.