Insider Selling: Cimarex Energy Co (XEC) VP Sells 2,229 Shares of Stock
Cimarex Energy Co (NYSE:XEC) VP Krista L. Johnson sold 2,229 shares of the business’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $112.50, for a total transaction of $250,762.50. Following the completion of the transaction, the vice president now owns 62,238 shares of the company’s stock, valued at $7,001,775. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of Cimarex Energy Co (NYSE XEC) traded down $0.29 during midday trading on Wednesday, reaching $113.28. 1,174,254 shares of the company traded hands, compared to its average volume of 1,044,805. The stock has a market cap of $10,737.81, a price-to-earnings ratio of 29.66 and a beta of 1.34. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.42 and a current ratio of 1.51. Cimarex Energy Co has a 12 month low of $89.49 and a 12 month high of $144.30.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 EPS for the quarter, topping the consensus estimate of $0.97 by $0.12. The company had revenue of $463.68 million during the quarter, compared to analyst estimates of $451.53 million. Cimarex Energy had a net margin of 20.45% and a return on equity of 16.11%. The firm’s revenue was up 38.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 EPS. research analysts predict that Cimarex Energy Co will post 4.35 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Optimum Investment Advisors purchased a new stake in shares of Cimarex Energy during the third quarter worth $281,000. Belpointe Asset Management LLC purchased a new stake in shares of Cimarex Energy during the third quarter worth $311,000. IFM Investors Pty Ltd purchased a new stake in shares of Cimarex Energy during the third quarter worth $330,000. Sterling Capital Management LLC grew its holdings in shares of Cimarex Energy by 48.0% during the third quarter. Sterling Capital Management LLC now owns 3,700 shares of the oil and gas producer’s stock worth $421,000 after buying an additional 1,200 shares in the last quarter. Finally, Colony Group LLC grew its holdings in shares of Cimarex Energy by 38.7% during the third quarter. Colony Group LLC now owns 22,154 shares of the oil and gas producer’s stock worth $2,518,000 after buying an additional 6,177 shares in the last quarter. 92.35% of the stock is owned by institutional investors.
Several equities analysts recently issued reports on XEC shares. Morgan Stanley boosted their target price on shares of Cimarex Energy from $138.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, October 18th. Stifel Nicolaus set a $168.00 target price on shares of Cimarex Energy and gave the company a “buy” rating in a research note on Thursday, October 5th. KeyCorp reiterated a “buy” rating and issued a $130.00 target price on shares of Cimarex Energy in a research note on Friday, October 20th. Piper Jaffray Companies reiterated a “hold” rating and issued a $118.00 target price on shares of Cimarex Energy in a research note on Friday, November 24th. Finally, BidaskClub upgraded shares of Cimarex Energy from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 24th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $136.60.
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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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