Cimarex Energy (XEC) Shares Down 6.6%

Cimarex Energy Co (NYSE:XEC) was down 6.6% during mid-day trading on Thursday . The company traded as low as $63.43 and last traded at $64.08. Approximately 2,222,440 shares traded hands during trading, an increase of 60% from the average daily volume of 1,391,516 shares. The stock had previously closed at $68.59.

A number of equities research analysts have recently issued reports on XEC shares. Morgan Stanley set a $100.00 target price on shares of Cimarex Energy and gave the stock a “buy” rating in a report on Thursday, May 16th. Capital One Financial raised shares of Cimarex Energy from an “equal weight” rating to an “overweight” rating in a report on Thursday. Imperial Capital reaffirmed an “outperform” rating and set a $82.00 target price (down previously from $84.00) on shares of Cimarex Energy in a report on Friday, May 10th. Susquehanna Bancshares raised shares of Cimarex Energy from a “neutral” rating to a “positive” rating and upped their target price for the stock from $74.00 to $88.00 in a report on Friday, February 8th. Finally, Ifs Securities reaffirmed a “market perform” rating on shares of Cimarex Energy in a report on Sunday, February 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $105.83.

The company has a current ratio of 0.66, a quick ratio of 0.59 and a debt-to-equity ratio of 0.58. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of 8.66 and a beta of 1.31.

Cimarex Energy (NYSE:XEC) last announced its quarterly earnings results on Wednesday, May 8th. The oil and gas producer reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.17). The firm had revenue of $577.00 million for the quarter, compared to analyst estimates of $581.51 million. Cimarex Energy had a net margin of 26.90% and a return on equity of 19.95%. The company’s revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.82 EPS. As a group, research analysts anticipate that Cimarex Energy Co will post 6.63 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.25%. Cimarex Energy’s payout ratio is 10.81%.

In other news, Director Harold R. Logan, Jr. sold 990 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $70.00, for a total transaction of $69,300.00. Following the transaction, the director now owns 7,259 shares of the company’s stock, valued at approximately $508,130. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of XEC. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Cimarex Energy in the fourth quarter valued at about $26,000. First Bank & Trust acquired a new position in Cimarex Energy in the fourth quarter valued at about $28,000. Quantamental Technologies LLC acquired a new position in Cimarex Energy in the first quarter valued at about $31,000. CSat Investment Advisory L.P. lifted its position in Cimarex Energy by 77.7% in the fourth quarter. CSat Investment Advisory L.P. now owns 549 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 240 shares during the last quarter. Finally, Nvwm LLC lifted its position in Cimarex Energy by 462.0% in the first quarter. Nvwm LLC now owns 517 shares of the oil and gas producer’s stock valued at $36,000 after buying an additional 425 shares during the last quarter. 93.30% of the stock is currently owned by institutional investors.

WARNING: This news story was published by Community Financial News and is the sole property of of Community Financial News. If you are accessing this news story on another site, it was stolen and reposted in violation of U.S. & international copyright laws. The correct version of this news story can be read at https://www.com-unik.info/2019/05/23/cimarex-energy-xec-shares-down-6-6.html.

About Cimarex Energy (NYSE:XEC)

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, 2018, it had a total proved reserves of 591.2 million barrels of oil equivalent, consisting of 1.59 trillion cubic feet of natural gas; 146.5 million barrels (MMBbls) of oil; and 179.4 MMBbls of natural gas liquids primarily located in the Permian Basin and Mid-Continent regions.

See Also: Catch-Up Contributions

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.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit