Joseph R. Albi Sells 2,500 Shares of Cimarex Energy Co (NYSE:XEC) Stock

Cimarex Energy Co (NYSE:XEC) COO Joseph R. Albi sold 2,500 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $55.00, for a total transaction of $137,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

NYSE XEC opened at $51.64 on Thursday. The stock’s 50-day moving average price is $50.46 and its two-hundred day moving average price is $47.68. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.56. The company has a market cap of $5.40 billion, a PE ratio of 6.98 and a beta of 1.41. Cimarex Energy Co has a 1 year low of $37.19 and a 1 year high of $77.10.

Cimarex Energy (NYSE:XEC) last issued its earnings results on Monday, November 4th. The oil and gas producer reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). The business had revenue of $582.31 million during the quarter, compared to analyst estimates of $575.31 million. Cimarex Energy had a net margin of 21.13% and a return on equity of 13.02%. Cimarex Energy’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.99 EPS. Research analysts forecast that Cimarex Energy Co will post 4.03 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $0.80 dividend on an annualized basis and a yield of 1.55%. Cimarex Energy’s dividend payout ratio is currently 10.81%.

A number of large investors have recently added to or reduced their stakes in XEC. Amundi Pioneer Asset Management Inc. boosted its position in shares of Cimarex Energy by 55.8% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 98,810 shares of the oil and gas producer’s stock valued at $6,907,000 after acquiring an additional 35,389 shares during the period. Schroder Investment Management Group increased its stake in shares of Cimarex Energy by 59.7% in the second quarter. Schroder Investment Management Group now owns 317,452 shares of the oil and gas producer’s stock valued at $18,835,000 after buying an additional 118,611 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Cimarex Energy by 116.5% in the second quarter. Russell Investments Group Ltd. now owns 50,344 shares of the oil and gas producer’s stock valued at $2,979,000 after buying an additional 27,089 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Cimarex Energy by 2.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 719,641 shares of the oil and gas producer’s stock valued at $42,697,000 after buying an additional 19,108 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Cimarex Energy by 7.0% in the second quarter. Bank of New York Mellon Corp now owns 950,669 shares of the oil and gas producer’s stock valued at $56,404,000 after buying an additional 62,448 shares in the last quarter. Hedge funds and other institutional investors own 97.80% of the company’s stock.

XEC has been the topic of several recent research reports. Morgan Stanley downgraded shares of Cimarex Energy from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $59.00 to $54.00 in a research note on Monday. Barclays dropped their target price on shares of Cimarex Energy from $81.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Friday, December 6th. JPMorgan Chase & Co. raised shares of Cimarex Energy from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $62.00 to $70.00 in a research report on Thursday, January 9th. Citigroup cut their price target on shares of Cimarex Energy from $85.00 to $75.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Finally, Williams Capital reissued a “buy” rating and issued a $64.00 price target on shares of Cimarex Energy in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company. Cimarex Energy currently has a consensus rating of “Hold” and an average target price of $65.31.

Cimarex Energy Company Profile

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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