Stephen P. Bell Sells 2,500 Shares of Cimarex Energy Co (XEC) Stock
Cimarex Energy Co (NYSE:XEC) VP Stephen P. Bell sold 2,500 shares of Cimarex Energy stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $102.54, for a total transaction of $256,350.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Cimarex Energy Co (NYSE:XEC) traded down 0.79% during midday trading on Thursday, reaching $102.08. 720,891 shares of the company were exchanged. Cimarex Energy Co has a 52-week low of $89.49 and a 52-week high of $146.96. The company has a market capitalization of $9.53 billion, a price-to-earnings ratio of 36.56 and a beta of 1.32. The company has a 50 day moving average of $97.74 and a 200-day moving average of $108.22.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.11. Cimarex Energy had a return on equity of 13.29% and a net margin of 15.64%. The business had revenue of $456.50 million during the quarter, compared to analysts’ expectations of $441.52 million. During the same quarter in the prior year, the business earned $0.07 earnings per share. The company’s quarterly revenue was up 52.7% compared to the same quarter last year. On average, equities research analysts anticipate that Cimarex Energy Co will post $4.17 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.31%. The ex-dividend date is Tuesday, November 14th. Cimarex Energy’s dividend payout ratio (DPR) is presently 12.03%.
XEC has been the subject of a number of recent research reports. Williams Capital raised shares of Cimarex Energy from a “hold” rating to a “buy” rating and raised their price target for the stock from $148.00 to $160.00 in a research report on Monday, May 15th. They noted that the move was a valuation call. UBS AG reissued a “neutral” rating and set a $134.00 price target (up from $131.00) on shares of Cimarex Energy in a research report on Friday, May 12th. Scotiabank set a $143.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Saturday, July 1st. Barclays PLC raised their price target on shares of Cimarex Energy from $112.00 to $117.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 15th. Finally, Stifel Nicolaus set a $169.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $136.40.
Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position 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 worth $853,329,000 after acquiring an additional 6,920,140 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in Cimarex Energy by 2.7% in the first quarter. Public Employees Retirement System of Ohio now owns 51,868 shares of the oil and gas producer’s stock worth $6,198,000 after acquiring an additional 1,350 shares in the last quarter. Xact Kapitalforvaltning AB raised its position in Cimarex Energy by 17.0% in the second quarter. Xact Kapitalforvaltning AB now owns 8,339 shares of the oil and gas producer’s stock worth $784,000 after acquiring an additional 1,213 shares in the last quarter. Princeton Alpha Management LP purchased a new position in Cimarex Energy in the first quarter worth $361,000. Finally, Laurion Capital Management LP purchased a new position in Cimarex Energy in the first quarter worth $299,000. Hedge funds and other institutional investors own 91.31% of the company’s stock.
About Cimarex Energy
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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