Insider Selling: Joseph R. Albi Sells 4,000 Shares of Cimarex Energy Stock (XEC)
Cimarex Energy (NYSE:XEC) COO Joseph R. Albi sold 4,000 shares of the stock on the open market in a transaction dated Thursday, June 12th. The stock was sold at an average price of $137.00, for a total value of $548,000.00. Following the completion of the transaction, the chief operating officer now directly owns 84,770 shares in the company, valued at approximately $11,613,490. The sale was disclosed in a filing with the SEC, 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 52-week low of $62.98 and a 52-week 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 P/E ratio of 19.17.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.06 earnings per share. Cimarex Energy’s revenue was up 40.5% compared to the same quarter last year. 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. Stockholders 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.
A number of research firms have recently commented on XEC. 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 equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus 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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