Cimarex Energy Co. (XEC) Hits New 1-Year High at $133.94
Shares of Cimarex Energy Co. (NYSE:XEC) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $133.94 and last traded at $133.79, with a volume of 466,101 shares changing hands. The stock had previously closed at $131.05.
A number of analysts have recently issued reports on the company. Zacks Investment Research upgraded Cimarex Energy from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a report on Tuesday, July 12th. Canaccord Genuity restated a “hold” rating and issued a $89.00 target price on shares of Cimarex Energy in a report on Wednesday, July 6th. Wunderlich increased their target price on Cimarex Energy from $122.00 to $139.00 and gave the company a “buy” rating in a report on Thursday, June 30th. JPMorgan Chase & Co. restated a “hold” rating on shares of Cimarex Energy in a report on Thursday, June 30th. Finally, Stifel Nicolaus increased their target price on Cimarex Energy from $120.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, July 13th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $115.96.
The stock’s 50-day moving average price is $121.70 and its 200-day moving average price is $108.51. The stock’s market capitalization is $12.63 billion.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.18. The company earned $298.90 million during the quarter, compared to analyst estimates of $279.22 million. During the same quarter last year, the company posted $0.15 EPS. The firm’s quarterly revenue was down 29.6% on a year-over-year basis. On average, equities analysts forecast that Cimarex Energy Co. will post $0.60 EPS for the current fiscal year.
In related news, COO Joseph R. Albi sold 1,250 shares of the company’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $120.00, for a total value of $150,000.00. Following 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 document filed with the SEC, which can be accessed through this link. Also, VP James H. Shonsey sold 3,000 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $131.29, for a total transaction of $393,870.00. Following the completion of the transaction, the vice president now owns 11,000 shares in the company, valued at approximately $1,444,190. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently made changes to their positions in the stock. Airain ltd bought a new position in shares of Cimarex Energy during the fourth quarter worth approximately $1,439,000. Coe Capital Management LLC bought a new position in shares of Cimarex Energy during the fourth quarter worth approximately $1,073,000. KBC Group NV raised its position in shares of 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 period. Principal Financial Group Inc. raised its position in shares of Cimarex Energy by 2.1% in the fourth quarter. Principal Financial Group Inc. now owns 131,691 shares of the company’s stock worth $11,770,000 after buying an additional 2,672 shares during the period. Finally, US Bancorp DE raised its position in shares of Cimarex Energy by 14.1% in the fourth quarter. US Bancorp DE now owns 11,440 shares of the company’s stock worth $1,023,000 after buying an additional 1,415 shares during the period.
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.
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