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.
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.
Further Reading: Technical Analysis of Stocks, How Can It Help
Receive News & Ratings for Cimarex Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cimarex Energy and related companies with MarketBeat.com's FREE daily email newsletter.