Cimarex Energy (NYSE:XEC) Sets New 12-Month High at $81.25

Cimarex Energy Co. (NYSE:XEC) shares reached a new 52-week high during trading on Friday . The company traded as high as $81.25 and last traded at $81.10, with a volume of 9056 shares trading hands. The stock had previously closed at $79.28.

A number of research analysts recently commented on the company. Scotiabank cut Cimarex Energy from a “sector perform” rating to a “sector underperform” rating and increased their target price for the company from $67.00 to $71.00 in a research note on Thursday, July 15th. Morgan Stanley cut Cimarex Energy from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $79.00 to $68.00 in a research note on Friday, June 18th. Truist Securities increased their target price on Cimarex Energy from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 9th. Citigroup increased their target price on Cimarex Energy from $84.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, July 23rd. Finally, Truist Financial raised Cimarex Energy to a “buy” rating and set a $80.00 target price on the stock in a research note on Wednesday, July 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $77.67.

The company has a quick ratio of 1.20, a current ratio of 1.23 and a debt-to-equity ratio of 1.13. The stock’s fifty day moving average price is $67.52 and its two-hundred day moving average price is $67.19. The company has a market capitalization of $8.37 billion, a PE ratio of -239.38, a price-to-earnings-growth ratio of 0.49 and a beta of 2.60.

Cimarex Energy (NYSE:XEC) last posted its earnings results on Thursday, August 5th. The oil and gas producer reported $2.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.22. The company had revenue of $712.38 million during the quarter, compared to analyst estimates of $616.83 million. Cimarex Energy had a negative net margin of 1.19% and a positive return on equity of 34.56%. Cimarex Energy’s revenue for the quarter was up 185.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.51) earnings per share. On average, equities research analysts forecast that Cimarex Energy Co. will post 8.88 EPS for the current year.

In other Cimarex Energy news, EVP John Lambuth sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 27th. The shares were sold at an average price of $63.75, for a total value of $637,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.00% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of XEC. Versor Investments LP purchased a new stake in Cimarex Energy in the second quarter worth about $97,370,000. BlackRock Inc. lifted its holdings in Cimarex Energy by 14.8% in the first quarter. BlackRock Inc. now owns 9,956,077 shares of the oil and gas producer’s stock worth $591,293,000 after buying an additional 1,283,492 shares during the period. Vanguard Group Inc. lifted its holdings in Cimarex Energy by 8.8% in the second quarter. Vanguard Group Inc. now owns 11,264,481 shares of the oil and gas producer’s stock worth $816,112,000 after buying an additional 914,092 shares during the period. FIL Ltd lifted its holdings in shares of Cimarex Energy by 2,609.5% during the first quarter. FIL Ltd now owns 714,093 shares of the oil and gas producer’s stock valued at $42,410,000 after purchasing an additional 687,738 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of Cimarex Energy by 141.8% during the first quarter. Nuveen Asset Management LLC now owns 868,165 shares of the oil and gas producer’s stock valued at $51,561,000 after purchasing an additional 509,107 shares during the last quarter. Institutional investors and hedge funds own 91.52% of the company’s stock.

Cimarex Energy Company Profile (NYSE:XEC)

Cimarex Energy Co is an independent oil and gas exploration and production company. Its activities include drilling, completing and operating wells. It operates through the following areas: Permian Basin, Mid-Continent, and Others in Oklahoma, Texas and New Mexico. The company was founded by F. H. Merelli in February 2002 and is headquartered in Denver, CO.

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