Cimarex Energy (NYSE:XEC) Trading 5% Higher

Shares of Cimarex Energy Co. (NYSE:XEC) rose 5% on Wednesday . The company traded as high as $78.41 and last traded at $78.28. Approximately 1,798 shares changed hands during trading, a decline of 100% from the average daily volume of 1,199,652 shares. The stock had previously closed at $74.58.

XEC has been the subject of several analyst reports. Credit Suisse Group cut shares of Cimarex Energy from an “outperform” rating to a “neutral” rating in a report on Tuesday, May 25th. Truist Financial upgraded Cimarex Energy to a “buy” rating and set a $80.00 price target on the stock in a research note on Wednesday, July 21st. Evercore ISI cut Cimarex Energy to an “outperform” rating and set a $75.00 price objective for the company. in a research report on Monday, May 24th. Piper Sandler lowered Cimarex Energy from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $88.00 to $67.00 in a research report on Tuesday, May 25th. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of Cimarex Energy in a report on Wednesday, May 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $77.67.

The company has a quick ratio of 1.20, a current ratio of 1.23 and a debt-to-equity ratio of 1.13. The stock’s fifty day moving average price is $66.33 and its 200-day moving average price is $66.38. The company has a market capitalization of $8.09 billion, a price-to-earnings ratio of -233.05, a P/E/G ratio of 0.49 and a beta of 2.60.

Cimarex Energy (NYSE:XEC) last issued its quarterly earnings data on Thursday, August 5th. The oil and gas producer reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.22. The company had revenue of $712.38 million during the quarter, compared to analysts’ expectations of $616.83 million. Cimarex Energy had a positive return on equity of 34.56% and a negative net margin of 1.19%. The business’s revenue was up 185.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.51) earnings per share. Analysts anticipate that Cimarex Energy Co. will post 8.88 EPS for the current year.

In related news, EVP John Lambuth sold 10,000 shares of the business’s stock in a transaction dated Friday, August 27th. The stock was sold at an average price of $63.75, for a total value of $637,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Marshall Wace LLP boosted its stake in Cimarex Energy by 39.2% in the second quarter. Marshall Wace LLP now owns 34,286 shares of the oil and gas producer’s stock valued at $2,484,000 after buying an additional 9,647 shares in the last quarter. Morgan Stanley grew its holdings in shares of Cimarex Energy by 6.8% during the 2nd quarter. Morgan Stanley now owns 420,516 shares of the oil and gas producer’s stock valued at $30,467,000 after purchasing an additional 26,807 shares during the last quarter. Blackstone Inc acquired a new position in Cimarex Energy during the 2nd quarter worth approximately $1,299,000. Weiss Multi Strategy Advisers LLC lifted its stake in Cimarex Energy by 108.2% in the 2nd quarter. Weiss Multi Strategy Advisers LLC now owns 697,649 shares of the oil and gas producer’s stock valued at $50,545,000 after purchasing an additional 362,619 shares during the last quarter. Finally, Yaupon Capital Management LP boosted its position in Cimarex Energy by 32.5% in the second quarter. Yaupon Capital Management LP now owns 91,733 shares of the oil and gas producer’s stock valued at $6,646,000 after buying an additional 22,506 shares in the last quarter. Institutional investors and hedge funds own 91.52% of the company’s stock.

Cimarex Energy Company Profile (NYSE:XEC)

Cimarex Energy Co is an independent oil and gas exploration and production company. Its activities include drilling, completing and operating wells. It operates through the following areas: Permian Basin, Mid-Continent, and Others in Oklahoma, Texas and New Mexico. The company was founded by F. H. Merelli in February 2002 and is headquartered in Denver, CO.

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