Cimarex Energy Co. (XEC) Hits New 52-Week High at $136.57
Cimarex Energy Co. (NYSE:XEC) reached a new 52-week high on Monday . The stock traded as high as $136.57 and last traded at $134.92, with a volume of 626,600 shares traded. The stock had previously closed at $134.62.
Several equities research analysts recently weighed in on XEC shares. Stifel Nicolaus restated a “buy” rating on shares of Cimarex Energy in a research note on Wednesday, August 31st. Jefferies Group restated a “sell” rating on shares of Cimarex Energy in a research note on Thursday, August 11th. Deutsche Bank AG restated a “hold” rating and set a $120.00 target price (up previously from $110.00) on shares of Cimarex Energy in a research note on Wednesday, May 18th. JPMorgan Chase & Co. restated a “hold” rating on shares of Cimarex Energy in a research note on Thursday, June 30th. Finally, 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 research note on Tuesday, July 12th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the company. Cimarex Energy currently has a consensus rating of “Hold” and an average target price of $118.31.
The company’s market cap is $12.82 billion. The stock’s 50 day moving average is $125.55 and its 200 day moving average is $111.16.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.18. During the same period last year, the business posted $0.15 EPS. The company 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% on a year-over-year basis. Analysts anticipate that Cimarex Energy Co. will post $0.63 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. The ex-dividend date is Thursday, November 10th.
In related news, SVP Francis Brian Barron sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $131.15, for a total value of $65,575.00. Following the sale, the senior vice president now owns 67,539 shares of the company’s stock, valued at approximately $8,857,739.85. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO G Mark Burford sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $130.00, for a total value of $260,000.00. Following the completion of the sale, the chief financial officer now directly owns 38,039 shares in the company, valued at approximately $4,945,070. The disclosure for this sale can be found here.
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.