Insider Selling: Jerry Box Unloads 1,922 Shares of Cimarex Energy Stock (XEC)
Cimarex Energy (NYSE:XEC) Director Jerry Box unloaded 1,922 shares of the stock on the open market in a transaction dated Thursday, June 12th. The stock was sold at an average price of $136.00, for a total value of $261,392.00. Following the sale, the director now directly owns 11,960 shares of the company’s stock, valued at approximately $1,626,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Cimarex Energy (NYSE:XEC) traded up 0.79% on Thursday, hitting $135.77. 1,537,730 shares of the company’s stock traded hands. Cimarex Energy has a one year low of $62.98 and a one year high of $139.95. The stock has a 50-day moving average of $127.0 and a 200-day moving average of $112.1. The company has a market cap of $11.816 billion and a price-to-earnings ratio of 19.17.
Cimarex Energy (NYSE:XEC) last released its earnings data on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.52 by $0.15. The company had revenue of $599.20 million for the quarter, compared to the consensus estimate of $542.04 million. During the same quarter in the prior year, the company posted $1.06 earnings per share. The company’s quarterly revenue was up 40.5% on a year-over-year basis. Analysts expect that Cimarex Energy will post $6.66 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 2nd. Investors of record on Friday, August 15th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Wednesday, August 13th.
XEC has been the subject of a number of recent research reports. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Cimarex Energy in a research note on Wednesday. They now have a $142.00 price target on the stock, up previously from $132.00. Separately, analysts at Tudor Pickering upgraded shares of Cimarex Energy from an “accumulate” rating to a “buy” rating in a research note on Friday, May 30th. Finally, analysts at Cowen and Company raised their price target on shares of Cimarex Energy from $125.00 to $160.00 in a research note on Thursday, May 22nd. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $129.53.
Cimarex Energy Co is an oil and gas exploration and production company. Its operations are focused in two main areas: the Mid-Continent region and the Permian Basin.
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