Cimarex Energy (NYSE:XEC) Trading 6.6% Higher

Shares of Cimarex Energy Co (NYSE:XEC) traded up 6.6% on Friday . The stock traded as high as $41.30 and last traded at $41.05, 2,541,606 shares traded hands during trading. An increase of 64% from the average session volume of 1,549,549 shares. The stock had previously closed at $38.50.

Several research analysts have recently weighed in on the company. Citigroup reduced their price objective on Cimarex Energy from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday. Williams Capital reaffirmed a “buy” rating and set a $83.00 price objective on shares of Cimarex Energy in a research report on Monday, July 22nd. Robert W. Baird reaffirmed an “outperform” rating and set a $82.00 price objective (down from $110.00) on shares of Cimarex Energy in a research report on Wednesday, June 5th. BMO Capital Markets cut Cimarex Energy from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $82.00 to $67.00 in a research report on Thursday, July 11th. Finally, Bank of America reduced their price objective on Cimarex Energy from $87.00 to $75.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the stock. Cimarex Energy presently has an average rating of “Hold” and a consensus target price of $80.11.

The firm has a 50-day moving average of $50.40 and a 200 day moving average of $63.09. 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 has a market capitalization of $3.91 billion, a price-to-earnings ratio of 6.43 and a beta of 1.30.

Cimarex Energy (NYSE:XEC) last issued its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.82 EPS for the quarter, missing the 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 company had revenue of $546.46 million for the quarter, compared to analyst estimates of $594.90 million. During the same period last year, the company posted $1.59 earnings per share. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, equities analysts forecast that Cimarex Energy Co will post 5.13 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC lifted its position in shares of Cimarex Energy by 319.8% in the second quarter. Valeo Financial Advisors LLC now owns 487 shares of the oil and gas producer’s stock valued at $29,000 after buying an additional 371 shares during the last quarter. Quantamental Technologies LLC bought a new position in shares of Cimarex Energy during the first quarter worth approximately $31,000. Nvwm LLC increased its stake in shares of Cimarex Energy by 462.0% during the first quarter. Nvwm LLC now owns 517 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 425 shares during the period. Advisory Services Network LLC increased its stake in shares of Cimarex Energy by 1,170.2% during the second quarter. Advisory Services Network LLC now owns 597 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 550 shares during the period. Finally, Bremer Bank National Association bought a new position in shares of Cimarex Energy during the first quarter worth approximately $48,000. 94.94% of the stock is owned by institutional investors.

About Cimarex Energy (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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