Cimarex Energy Co. (XEC) Hits New 52-Week High at $135.43
Cimarex Energy Co. (NYSE:XEC)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $135.43 and last traded at $134.44, with a volume of 353,461 shares trading hands. The stock had previously closed at $133.50.
Several research firms have issued reports on XEC. Williams Capital began coverage on shares of Cimarex Energy in a research note on Monday. They set a “hold” rating and a $143.00 target price on the stock. Citigroup Inc. upped their target price on shares of Cimarex Energy from $127.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday, August 11th. Zacks Investment Research cut shares of Cimarex Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, August 17th. Deutsche Bank AG upped their target price on shares of Cimarex Energy from $120.00 to $140.00 and gave the company a “hold” rating in a research note on Wednesday, August 10th. Finally, Barclays PLC upped their target price on shares of Cimarex Energy from $117.00 to $138.00 and gave the company an “overweight” rating in a research note on Monday, August 8th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $117.04.
The company has a 50-day moving average of $123.86 and a 200-day moving average of $110.31. The stock’s market capitalization is $12.74 billion.
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, 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. The company’s revenue was down 29.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.15 earnings per share. On average, equities research analysts anticipate that Cimarex Energy Co. will post $0.62 EPS for the current fiscal year.
In other news, COO Joseph R. Albi sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 14th. The stock was sold at an average price of $114.55, for a total transaction of $114,550.00. Following the completion of the transaction, the chief operating officer now directly owns 118,461 shares of the company’s stock, valued at approximately $13,569,707.55. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Francis Brian Barron sold 500 shares of the company’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 transaction, the senior vice president now directly owns 67,539 shares of the company’s stock, valued at $8,857,739.85. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have made changes to their positions in the company. US Bancorp DE increased 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 valued at $1,023,000 after buying an additional 1,415 shares during the last quarter. Airain ltd acquired a new position in shares of Cimarex Energy during the fourth quarter valued at $1,439,000. KBC Group NV increased 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 valued at $2,642,000 after buying an additional 7,817 shares during the last quarter. Finally, Principal Financial Group Inc. increased 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 valued at $11,770,000 after buying an additional 2,672 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.
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