Cimarex Energy Target of Unusually Large Options Trading (XEC)
Cimarex Energy Co (NYSE:XEC) was the target of unusually large options trading on Tuesday. Investors purchased 9,264 call options on the stock. This is an increase of 2,716% compared to the typical daily volume of 329 call options.
NYSE XEC opened at $86.02 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.27 and a current ratio of 1.34. Cimarex Energy has a 12 month low of $80.53 and a 12 month high of $130.16. The company has a market capitalization of $7.97 billion, a P/E ratio of 18.50 and a beta of 1.05.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings results on Tuesday, August 7th. The oil and gas producer reported $1.59 EPS for the quarter, missing the Zacks’ consensus estimate of $1.64 by ($0.05). Cimarex Energy had a return on equity of 21.47% and a net margin of 27.75%. The business had revenue of $556.27 million during the quarter, compared to analysts’ expectations of $557.26 million. equities analysts forecast that Cimarex Energy will post 6.95 earnings per share for the current year.
A number of research analysts have recently weighed in on the company. Morgan Stanley lowered their price objective on Cimarex Energy from $138.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, May 24th. Credit Suisse Group cut Cimarex Energy from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 9th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $147.00 price objective on shares of Cimarex Energy in a research report on Friday, July 20th. Imperial Capital lowered their price objective on Cimarex Energy from $156.00 to $128.00 and set an “outperform” rating on the stock in a research report on Thursday, August 9th. Finally, Bank of America raised Cimarex Energy from a “neutral” rating to a “buy” rating in a research report on Thursday, June 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the stock. Cimarex Energy presently has an average rating of “Buy” and an average target price of $130.62.
In other Cimarex Energy news, Director L Paul Teague sold 1,040 shares of the firm’s stock in a transaction dated Wednesday, June 27th. The stock was sold at an average price of $100.10, for a total value of $104,104.00. Following the transaction, the director now directly owns 40,106 shares of the company’s stock, valued at $4,014,610.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lisa A. Stewart bought 320 shares of the company’s stock in a transaction on Thursday, August 30th. The stock was purchased at an average cost of $84.05 per share, for a total transaction of $26,896.00. The disclosure for this purchase can be found here. Company insiders own 1.70% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Glen Harbor Capital Management LLC lifted its holdings in Cimarex Energy by 12.8% in the 1st quarter. Glen Harbor Capital Management LLC now owns 4,664 shares of the oil and gas producer’s stock worth $436,000 after purchasing an additional 528 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in Cimarex Energy by 37.1% in the 1st quarter. GSA Capital Partners LLP now owns 30,818 shares of the oil and gas producer’s stock worth $2,881,000 after purchasing an additional 8,337 shares in the last quarter. Advanced Asset Management Advisors Inc purchased a new position in Cimarex Energy in the 2nd quarter worth approximately $621,000. Investec Asset Management LTD lifted its holdings in Cimarex Energy by 173.1% in the 2nd quarter. Investec Asset Management LTD now owns 118,291 shares of the oil and gas producer’s stock worth $12,035,000 after purchasing an additional 74,981 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its holdings in Cimarex Energy by 6.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 5,396,174 shares of the oil and gas producer’s stock worth $549,007,000 after purchasing an additional 312,747 shares in the last quarter. 94.95% of the stock is currently owned by institutional investors.
About Cimarex Energy
Cimarex Energy Co operates as an independent oil and gas exploration and production company primarily in Oklahoma, Texas, and New Mexico. As of December 31, 2017, it had a total proved oil and gas reserves of 3.35 trillion cubic feet equivalent (Tcfe) consisting of 1.61 trillion cubic feet of natural gas, 0.82 Tcfe of oil, and 0.92 Tcfe of natural gas liquids primarily located in the Mid-Continent and Permian Basin regions.
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