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.

A number of institutional investors have recently modified their holdings of XEC. Wells Fargo & Company MN increased its stake in Cimarex Energy by 172.6% during the 3rd quarter. Wells Fargo & Company MN now owns 1,352,468 shares of the oil and gas producer’s stock valued at $153,734,000 after purchasing an additional 856,274 shares in the last quarter. Janus Henderson Group PLC increased its stake in Cimarex Energy by 7,007.8% during the 2nd quarter. Janus Henderson Group PLC now owns 834,313 shares of the oil and gas producer’s stock valued at $78,434,000 after purchasing an additional 822,575 shares in the last quarter. American Century Companies Inc. increased its stake in Cimarex Energy by 226.7% during the 4th quarter. American Century Companies Inc. now owns 879,814 shares of the oil and gas producer’s stock valued at $107,346,000 after purchasing an additional 610,508 shares in the last quarter. APG Asset Management N.V. increased its stake in Cimarex Energy by 274.1% during the 3rd quarter. APG Asset Management N.V. now owns 743,117 shares of the oil and gas producer’s stock valued at $84,470,000 after purchasing an additional 544,465 shares in the last quarter. Finally, Caymus Capital Partners L.P. acquired a new position in Cimarex Energy during the 3rd quarter valued at approximately $61,666,000. Institutional investors and hedge funds own 92.34% of the company’s stock.

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%.

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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.

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