Insider Selling: Paul Korus Unloads 5,000 Shares of Cimarex Energy Stock (XEC)
Cimarex Energy (NYSE:XEC) CFO Paul Korus sold 5,000 shares of Cimarex Energy stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $139.02, for a total transaction of $695,100.00. Following the sale, the chief financial officer now directly owns 124,712 shares of the company’s stock, valued at approximately $17,337,462. The transaction 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 3.11% on Monday, hitting $139.14. 858,741 shares of the company’s stock traded hands. Cimarex Energy has a 52-week low of $81.64 and a 52-week high of $150.71. The stock has a 50-day moving average of $140.1 and a 200-day moving average of $127.1. The company has a market cap of $12.108 billion and a price-to-earnings ratio of 18.65.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $1.71 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.71. The company had revenue of $636.67 million for the quarter, compared to the consensus estimate of $645.80 million. During the same quarter in the previous year, the company posted $1.37 earnings per share. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. Analysts expect that Cimarex Energy will post $7.02 EPS for the current fiscal year.
XEC has been the subject of a number of recent research reports. Analysts at Barclays raised their price target on shares of Cimarex Energy from $170.00 to $172.00 in a research note on Friday, August 8th. Separately, analysts at KLR Group upgraded shares of Cimarex Energy from a “hold” rating to an “accumulate” rating in a research note on Friday, August 8th. They now have a $156.00 price target on the stock, up previously from $4.00. Finally, analysts at Howard Weil raised their price target on shares of Cimarex Energy from $182.00 to $211.00 in a research note on Thursday, August 7th. They now have a “sector outperform” rating on the stock. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $149.90.
Cimarex Energy Co, is an oil and gas exploration and production company. The Company’s operations are focused in two main areas: the Mid-Continent region and the Permian Basin.
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