Harold R. Logan, Jr. Sells 913 Shares of Cimarex Energy Co (XEC) Stock
Cimarex Energy Co (NYSE:XEC) Director Harold R. Logan, Jr. sold 913 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $105.83, for a total value of $96,622.79. Following the sale, the director now owns 9,299 shares in the company, valued at approximately $984,113.17. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Cimarex Energy Co (XEC) traded up 0.01% on Friday, reaching $106.72. The company’s stock had a trading volume of 1,258,087 shares. Cimarex Energy Co has a 1-year low of $89.49 and a 1-year high of $146.96. The stock has a 50 day moving average price of $98.88 and a 200-day moving average price of $107.42. The company has a market capitalization of $9.97 billion, a price-to-earnings ratio of 38.22 and a beta of 1.32.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.11. Cimarex Energy had a net margin of 15.64% and a return on equity of 13.29%. The business had revenue of $456.50 million during the quarter, compared to analyst estimates of $441.52 million. During the same quarter in the previous year, the business earned $0.07 EPS. Cimarex Energy’s quarterly revenue was up 52.7% compared to the same quarter last year. Equities analysts predict that Cimarex Energy Co will post $4.17 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.30%. The ex-dividend date is Tuesday, November 14th. Cimarex Energy’s payout ratio is presently 12.03%.
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Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in shares of Cimarex Energy by 3,127.3% in the 1st quarter. BlackRock Inc. now owns 7,141,421 shares of the oil and gas producer’s stock valued at $853,329,000 after purchasing an additional 6,920,140 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Cimarex Energy by 2.7% in the 1st quarter. Public Employees Retirement System of Ohio now owns 51,868 shares of the oil and gas producer’s stock valued at $6,198,000 after purchasing an additional 1,350 shares during the last quarter. Xact Kapitalforvaltning AB lifted its stake in shares of Cimarex Energy by 17.0% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 8,339 shares of the oil and gas producer’s stock valued at $784,000 after purchasing an additional 1,213 shares during the last quarter. Laurion Capital Management LP acquired a new stake in shares of Cimarex Energy in the 1st quarter valued at $299,000. Finally, Vanguard Group Inc. lifted its stake in shares of Cimarex Energy by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 9,834,889 shares of the oil and gas producer’s stock valued at $1,175,170,000 after purchasing an additional 269,198 shares during the last quarter. 91.31% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have weighed in on XEC shares. Jefferies Group LLC reissued a “hold” rating and set a $119.00 price target on shares of Cimarex Energy in a research note on Thursday, July 6th. Stifel Nicolaus reissued a “buy” rating on shares of Cimarex Energy in a research note on Wednesday, June 28th. Citigroup Inc. reduced their price target on Cimarex Energy from $150.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, July 13th. Wolfe Research lowered Cimarex Energy from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 15th. Finally, Credit Suisse Group started coverage on Cimarex Energy in a research note on Thursday, June 1st. They set an “outperform” rating and a $138.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $136.40.
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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