Cimarex Energy Co (NYSE:XEC) was down 5.2% during mid-day trading on Friday . The stock traded as low as $37.90 and last traded at $38.11, approximately 1,296,216 shares traded hands during mid-day trading. A decline of 16% from the average daily volume of 1,544,075 shares. The stock had previously closed at $40.21.
Several research analysts have recently issued reports on XEC shares. MKM Partners dropped their target price on shares of Cimarex Energy from $70.00 to $64.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Piper Jaffray Companies set a $68.00 target price on shares of Cimarex Energy and gave the stock a “hold” rating in a research note on Friday, August 16th. Imperial Capital dropped their target price on shares of Cimarex Energy from $58.00 to $51.00 and set an “in-line” rating on the stock in a research note on Wednesday, August 7th. Robert W. Baird reiterated an “outperform” rating and issued a $82.00 target price (down previously from $110.00) on shares of Cimarex Energy in a research note on Wednesday, June 5th. Finally, Wells Fargo & Co started coverage on shares of Cimarex Energy in a research note on Monday, May 20th. They issued a “market perform” rating and a $86.00 target price on the stock. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company’s stock. Cimarex Energy has an average rating of “Hold” and a consensus price target of $77.39.
The company has a market cap of $3.87 billion, a P/E ratio of 5.15 and a beta of 1.30. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.64 and a quick ratio of 0.57. The stock’s 50-day moving average is $47.79 and its two-hundred day moving average is $62.05.
Cimarex Energy (NYSE:XEC) last announced its earnings results on Monday, August 5th. The oil and gas producer reported $0.82 EPS for the quarter, missing the Zacks’ consensus estimate of $1.20 by ($0.38). Cimarex Energy had a net margin of 25.66% and a return on equity of 16.59%. The business had revenue of $546.46 million for the quarter, compared to analysts’ expectations of $594.90 million. During the same period in the prior year, the company posted $1.59 earnings per share. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. On average, analysts predict that Cimarex Energy Co will post 5.03 EPS for the current year.
A number of hedge funds have recently made changes to their positions in XEC. Boston Partners increased its holdings in Cimarex Energy by 20.1% during the first quarter. Boston Partners now owns 6,989,669 shares of the oil and gas producer’s stock valued at $488,578,000 after buying an additional 1,169,027 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Cimarex Energy by 33.8% during the second quarter. Victory Capital Management Inc. now owns 4,205,794 shares of the oil and gas producer’s stock valued at $249,530,000 after buying an additional 1,061,331 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in Cimarex Energy by 15.9% during the second quarter. Diamond Hill Capital Management Inc. now owns 6,937,262 shares of the oil and gas producer’s stock valued at $411,588,000 after buying an additional 953,479 shares during the last quarter. Equity Investment Corp purchased a new stake in Cimarex Energy during the second quarter valued at approximately $44,115,000. Finally, Nuveen Asset Management LLC purchased a new stake in Cimarex Energy during the second quarter valued at approximately $33,646,000. 95.69% of the stock is owned by institutional investors and hedge funds.
Cimarex Energy Company Profile (NYSE:XEC)
Cimarex Energy Co operates as an independent oil and gas exploration and production company primarily in Oklahoma, Texas, and New Mexico. As of December 31, 2018, it had a total proved reserves of 591.2 million barrels of oil equivalent, consisting of 1.59 trillion cubic feet of natural gas; 146.5 million barrels (MMBbls) of oil; and 179.4 MMBbls of natural gas liquids primarily located in the Permian Basin and Mid-Continent regions.
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