Cimarex Energy Co. (XEC) Reaches New 1-Year High at $133.94
Cimarex Energy Co. (NYSE:XEC) reached a new 52-week high during 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 research firms recently commented on XEC. Canaccord Genuity reiterated a “hold” rating and set a $82.00 price target on shares of Cimarex Energy in a report on Thursday, May 5th. Wunderlich upped their price target on shares of Cimarex Energy from $122.00 to $139.00 and gave the company a “buy” rating in a report on Thursday, June 30th. Zacks Investment Research lowered shares of Cimarex Energy from a “buy” rating to a “hold” rating in a report on Wednesday, August 17th. Topeka Capital Markets decreased their price objective on shares of Cimarex Energy from $110.00 to $85.00 and set a “hold” rating for the company in a report on Thursday, May 5th. Finally, Jefferies Group restated a “sell” rating on shares of Cimarex Energy in a report on Thursday, August 11th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $115.96.
The company’s market cap is $12.56 billion. The stock’s 50 day moving average price is $122.47 and its 200 day moving average price is $109.02.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.18. During the same quarter in the previous year, the firm posted $0.15 EPS. The business had revenue of $298.90 million for the quarter, compared to analysts’ expectations of $279.22 million. Cimarex Energy’s revenue was down 29.6% on a year-over-year basis. On average, analysts forecast that Cimarex Energy Co. will post $0.60 earnings per share for the current year.
In related news, VP James H. Shonsey sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $131.29, for a total value of $393,870.00. Following the sale, the vice president now owns 11,000 shares in the company, valued at $1,444,190. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP James H. Shonsey sold 4,320 shares of the company’s stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $121.45, for a total value of $524,664.00. Following the completion of the sale, the vice president now owns 15,000 shares in the company, valued at approximately $1,821,750. The disclosure for this sale can be found here.
A number of large investors have recently modified their holdings of XEC. Airain ltd purchased a new stake in shares of Cimarex Energy during the fourth quarter worth approximately $1,439,000. KBC Group NV raised its stake 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 in the last quarter. US Bancorp DE raised its stake 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 in the last quarter. Finally, Principal Financial Group Inc. raised its stake 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 in 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.
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