Cimarex Energy Co (XEC) Sees Significant Increase in Short Interest

Cimarex Energy Co (NYSE:XEC) was the recipient of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 2,660,296 shares, a growth of 78.9% from the January 12th total of 1,487,419 shares. Currently, 2.8% of the company’s shares are short sold. Based on an average daily volume of 1,047,435 shares, the short-interest ratio is currently 2.5 days.

Several equities analysts have commented on XEC shares. Morgan Stanley boosted their price target on shares of Cimarex Energy from $138.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 18th. Credit Suisse Group started coverage on shares of Cimarex Energy in a research note on Monday, December 11th. They issued an “outperform” rating and a $140.00 price target for the company. Piper Jaffray Companies restated a “hold” rating and issued a $138.00 price target on shares of Cimarex Energy in a research note on Tuesday, January 9th. Seaport Global Securities upgraded shares of Cimarex Energy from a “sell” rating to a “buy” rating in a research note on Tuesday, December 19th. Finally, Cowen set a $165.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a research note on Thursday, January 18th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the company’s stock. Cimarex Energy has a consensus rating of “Buy” and a consensus target price of $140.62.

In related news, CEO Thomas E. Jorden sold 2,500 shares of Cimarex Energy stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $122.88, for a total value of $307,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Joseph R. Albi sold 1,000 shares of Cimarex Energy stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $113.75, for a total transaction of $113,750.00. The disclosure for this sale can be found here. Insiders sold a total of 17,479 shares of company stock valued at $2,000,868 in the last quarter. 1.70% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Advisor Group Inc. lifted its position in Cimarex Energy by 5.3% in the second quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock valued at $113,000 after acquiring an additional 60 shares during the last quarter. Assetmark Inc. lifted its position in Cimarex Energy by 1,015.9% in the fourth quarter. Assetmark Inc. now owns 982 shares of the oil and gas producer’s stock valued at $120,000 after acquiring an additional 894 shares during the last quarter. LMR Partners LLP purchased a new stake in Cimarex Energy in the fourth quarter valued at $200,000. Eagle Ridge Investment Management purchased a new stake in Cimarex Energy in the fourth quarter valued at $204,000. Finally, Capital Advisors Inc. OK purchased a new stake in Cimarex Energy in the fourth quarter valued at $205,000. 93.28% of the stock is owned by institutional investors and hedge funds.

Shares of Cimarex Energy (XEC) opened at $102.19 on Thursday. The stock has a market cap of $9,730.00, a price-to-earnings ratio of 25.55 and a beta of 1.14. Cimarex Energy has a 1 year low of $89.49 and a 1 year high of $136.31. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.42 and a current ratio of 1.51.

Cimarex Energy (NYSE:XEC) last released its quarterly earnings data on Wednesday, February 14th. The oil and gas producer reported $1.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.07. The business had revenue of $550.90 million during the quarter, compared to analysts’ expectations of $537.74 million. Cimarex Energy had a net margin of 20.45% and a return on equity of 16.11%. The company’s revenue for the quarter was up 44.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 EPS. research analysts anticipate that Cimarex Energy will post 4.59 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be given a dividend of $0.08 per share. The ex-dividend date is Wednesday, February 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.31%. Cimarex Energy’s dividend payout ratio (DPR) is currently 8.00%.

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Cimarex Energy Company Profile

Cimarex Energy Co is an independent oil and gas exploration and production company. The Company operates in exploration and production (E&P) segment. Its operations are located in Oklahoma, Texas and New Mexico. Its E&P activities take place primarily in two areas: the Permian Basin and the Mid-Continent region.

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