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.
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.
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.
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