Cimarex Energy Co (XEC) Raised to “Sell” at BidaskClub
BidaskClub upgraded shares of Cimarex Energy Co (NYSE:XEC) from a strong sell rating to a sell rating in a report issued on Thursday.
XEC has been the subject of a number of other reports. FBR & Co set a $141.00 target price on shares of Cimarex Energy and gave the company a buy rating in a report on Thursday, May 18th. Credit Suisse Group started coverage on shares of Cimarex Energy in a report on Thursday, June 1st. They issued an outperform rating and a $138.00 target price for the company. Stifel Nicolaus restated a buy rating on shares of Cimarex Energy in a report on Wednesday, June 28th. BMO Capital Markets set a $150.00 target price on shares of Cimarex Energy and gave the company a buy rating in a report on Monday, May 15th. Finally, Citigroup Inc. lowered their target price on shares of Cimarex Energy from $150.00 to $135.00 and set a buy rating for the company in a report on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company. The company has an average rating of Hold and a consensus target price of $138.05.
Cimarex Energy (NYSE XEC) opened at 99.56 on Thursday. The stock has a market cap of $9.30 billion, a price-to-earnings ratio of 35.66 and a beta of 1.32. Cimarex Energy has a 52-week low of $89.49 and a 52-week high of $146.96. The company has a 50-day moving average price of $96.19 and a 200 day moving average price of $110.12.
Cimarex Energy (NYSE:XEC) last released its earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.11. Cimarex Energy had a net margin of 15.64% and a return on equity of 13.29%. The firm had revenue of $456.50 million during the quarter, compared to the consensus estimate of $441.52 million. During the same period in the previous year, the firm earned $0.07 earnings per share. Cimarex Energy’s revenue was up 52.7% compared to the same quarter last year. On average, analysts expect that Cimarex Energy will post $4.16 earnings per share for the current year.
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In other news, CEO Thomas E. Jorden sold 2,500 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $101.67, for a total transaction of $254,175.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Joseph R. Albi sold 2,750 shares of the business’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $99.02, for a total transaction of $272,305.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,386 shares of company stock worth $739,738. Corporate insiders own 1.70% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of XEC. BlackRock Inc. boosted its stake in Cimarex Energy by 3,127.3% in the first quarter. BlackRock Inc. now owns 7,141,421 shares of the oil and gas producer’s stock valued at $853,329,000 after buying an additional 6,920,140 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Cimarex Energy by 968.7% in the second quarter. Principal Financial Group Inc. now owns 1,544,775 shares of the oil and gas producer’s stock valued at $145,224,000 after buying an additional 1,400,223 shares in the last quarter. Lazard Asset Management LLC boosted its stake in Cimarex Energy by 1,366.3% in the first quarter. Lazard Asset Management LLC now owns 890,780 shares of the oil and gas producer’s stock valued at $106,439,000 after buying an additional 830,028 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Cimarex Energy by 7,007.8% in the second quarter. Janus Henderson Group PLC now owns 834,313 shares of the oil and gas producer’s stock valued at $78,434,000 after buying an additional 822,575 shares in the last quarter. Finally, Boston Partners boosted its stake in Cimarex Energy by 109.3% in the first quarter. Boston Partners now owns 1,447,104 shares of the oil and gas producer’s stock valued at $172,915,000 after buying an additional 755,553 shares in the last quarter. 94.55% of the stock is currently owned by institutional investors and hedge funds.
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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