Cimarex Energy (XEC) Shares Down 5.4% After Analyst Downgrade
Cimarex Energy Co (NYSE:XEC) was down 5.4% during mid-day trading on Thursday after Morgan Stanley lowered their price target on the stock from $168.00 to $165.00. Morgan Stanley currently has an overweight rating on the stock. Cimarex Energy traded as low as $100.18 and last traded at $100.19. Approximately 1,465,281 shares traded hands during mid-day trading, an increase of 39% from the average daily volume of 1,056,740 shares. The stock had previously closed at $105.91.
Several other brokerages have also recently weighed in on XEC. Credit Suisse Group initiated coverage on shares of Cimarex Energy in a research report on Monday, December 11th. They issued an “outperform” rating and a $140.00 price target for the company. Jefferies Group set a $117.00 price target on shares of Cimarex Energy and gave the stock a “hold” rating in a research report on Wednesday, December 20th. UBS Group cut shares of Cimarex Energy from a “positive” rating to a “neutral” rating in a research report on Monday, November 13th. Deutsche Bank initiated coverage on shares of Cimarex Energy in a research report on Thursday, February 1st. They issued a “buy” rating and a $164.00 price target for the company. Finally, Williams Capital upped their price target on shares of Cimarex Energy from $132.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the company. Cimarex Energy presently has a consensus rating of “Buy” and an average target price of $141.38.
In other Cimarex Energy news, CEO Thomas E. Jorden sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $122.88, for a total transaction of $307,200.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Krista L. Johnson sold 5,341 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $116.46, for a total transaction of $622,012.86. Following the transaction, the vice president now owns 42,938 shares in the company, valued at approximately $5,000,559.48. The disclosure for this sale can be found here. Insiders have sold a total of 22,820 shares of company stock worth $2,622,880 in the last 90 days. 1.70% of the stock is currently owned by company insiders.
The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $9,540.00, a P/E ratio of 25.05 and a beta of 1.14.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.32%. Cimarex Energy’s payout ratio is 8.00%.
ILLEGAL ACTIVITY WARNING: “Cimarex Energy (XEC) Shares Down 5.4% After Analyst Downgrade” was published by Daily Political and is owned by of Daily Political. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of international copyright & trademark laws. The correct version of this piece of content can be accessed at https://www.dailypolitical.com/2018/02/09/cimarex-energy-xec-shares-down-5-4-after-analyst-downgrade.html.
Cimarex Energy Company Profile
Cimarex Energy Co is an independent oil and gas exploration and production company. The Company operates in exploration and production (E&P) segment. Its operations are located in Oklahoma, Texas and New Mexico. Its E&P activities take place primarily in two areas: the Permian Basin and the Mid-Continent region.
Receive News & Ratings for Cimarex Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cimarex Energy and related companies with MarketBeat.com's FREE daily email newsletter.