The stock of Cimarex Energy Co (NYSE:XEC) hit a new 52-week high and has $233.05 target or 69.00% above today’s $137.90 share price. The 9 months bullish chart indicates low risk for the $13.11 billion company. The 1-year high was reported on Oct, 5 by Barchart.com. If the $233.05 price target is reached, the company will be worth $9.05 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 230,272 shares traded hands. Cimarex Energy Co (NYSE:XEC) has risen 49.92% since March 2, 2016 and is uptrending. It has outperformed by 41.66% the S&P500.
Analysts await Cimarex Energy Co (NYSE:XEC) to report earnings on November, 1. They expect $0.39 earnings per share, up 360.00% or $0.54 from last year’s $-0.15 per share. XEC’s profit will be $37.08M for 88.40 P/E if the $0.39 EPS becomes a reality. After $0.07 actual earnings per share reported by Cimarex Energy Co for the previous quarter, Wall Street now forecasts 457.14% EPS growth.
Cimarex Energy Co (NYSE:XEC) Ratings Coverage
Out of 20 analysts covering Cimarex Energy (NYSE:XEC), 13 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 65% are positive. Cimarex Energy has been the topic of 49 analyst reports since July 21, 2015 according to StockzIntelligence Inc. On Thursday, August 11 the stock rating was maintained by Canaccord Genuity with “Hold”. Citigroup maintained Cimarex Energy Co (NYSE:XEC) rating on Thursday, August 11. Citigroup has “Buy” rating and $149 price target. Williams Capital Group initiated Cimarex Energy Co (NYSE:XEC) rating on Monday, August 29. Williams Capital Group has “Hold” rating and $143 price target. The firm has “Underperform” rating given on Wednesday, August 12 by CLSA. Credit Agricole upgraded the shares of XEC in a report on Monday, August 10 to “Outperform” rating. Barclays Capital maintained Cimarex Energy Co (NYSE:XEC) on Friday, February 19 with “Overweight” rating. The firm earned “Outperform” rating on Wednesday, August 31 by Wells Fargo. Citigroup maintained the stock with “Neutral” rating in Monday, September 14 report. The stock of Cimarex Energy Co (NYSE:XEC) earned “Hold” rating by Topeka Capital Markets on Tuesday, October 6. Wunderlich downgraded the stock to “Hold” rating in Thursday, November 5 report.
According to Zacks Investment Research, “Cimarex Energy is an independent oil and gas exploration and production company focused on increasing shareholder value through strategies linked to generating attractive economic returns on capital employed and profitable growth in per-share reserves, production, and cash flow. They intend to profitably grow reserves and production through a balanced mix of exploration, exploitation and acquisitions. They have a diversified base of high-quality production along with attractive drilling opportunities.”
Insitutional Activity: The institutional sentiment increased to 1.09 in 2016 Q2. Its up 0.03, from 1.06 in 2016Q1. The ratio is positive, as 31 funds sold all Cimarex Energy Co shares owned while 139 reduced positions. 58 funds bought stakes while 127 increased positions. They now own 86.40 million shares or 6.74% less from 92.65 million shares in 2016Q1.
Teachers Advsr has 0.11% invested in the company for 507,057 shares. Essex Inv Mgmt Ltd Liability Corporation has invested 0.25% of its portfolio in Cimarex Energy Co (NYSE:XEC). Cleararc Inc accumulated 0.05% or 2,319 shares. Rockefeller Inc last reported 0.01% of its portfolio in the stock. Eaton Vance Mgmt has invested 0% of its portfolio in Cimarex Energy Co (NYSE:XEC). Fil Limited holds 0.05% of its portfolio in Cimarex Energy Co (NYSE:XEC) for 142,724 shares. Rainier Invest Management Limited Liability accumulated 61,250 shares or 0.35% of the stock. Duncker Streett & Co Inc has invested 0.02% of its portfolio in Cimarex Energy Co (NYSE:XEC). The Alabama-based Andra Ap has invested 0.05% in Cimarex Energy Co (NYSE:XEC). Alpine Prtnrs Vi Ltd Liability Corp last reported 2,280 shares in the company. Renaissance Technologies Ltd Limited Liability Company has 0.02% invested in the company for 78,698 shares. Moreover, Assetmark has 0% invested in Cimarex Energy Co (NYSE:XEC) for 111 shares. The Michigan-based Comerica Financial Bank has invested 0.03% in Cimarex Energy Co (NYSE:XEC). Moreover, Gulf Natl Bank (Uk) Ltd has 0.05% invested in Cimarex Energy Co (NYSE:XEC) for 27,156 shares. Adage Capital Partners Ltd Company accumulated 0.16% or 485,145 shares.
Insider Transactions: Since May 6, 2016, the stock had 0 buys, and 23 sales for $6.42 million net activity. Another trade for 2,720 shares valued at $341,360 was sold by Lambuth John. SHONSEY JAMES H sold 4,320 shares worth $524,658. On Monday, May 9 JORDEN THOMAS E sold $270,025 worth of the stock or 2,500 shares. 3,000 Cimarex Energy Co (NYSE:XEC) shares with value of $342,000 were sold by Burford G Mark. 161 shares with value of $18,898 were sold by TEAGUE L PAUL on Monday, June 6. $127,598 worth of Cimarex Energy Co (NYSE:XEC) shares were sold by LOGAN HAROLD R JR. Barron Francis Brian had sold 500 shares worth $67,768.
More recent Cimarex Energy Co (NYSE:XEC) news were published by: Prnewswire.com which released: “Cimarex Schedules Third Quarter 2016 Earnings Release and Conference Call” on October 04, 2016. Also Seekingalpha.com published the news titled: “Cimarex Energy: A Good Company With A Premium Valuation” on August 26, 2016. Seekingalpha.com‘s news article titled: “Betting On America’s 2 Best Oil Plays Through Cimarex Energy” with publication date: September 13, 2016 was also an interesting one.
XEC Company Profile
Cimarex Energy Co., incorporated on February 14, 2002, is an independent gas and oil exploration and production company. The Company’s segment is exploration and production. The Company’s activities are located in the United States, mainly in Oklahoma, Texas and New Mexico. The Company’s activities are focused in approximately two main areas, such as the Permian Basin and the Mid-Continent region. The Company’s Permian Basin region encompasses west Texas and southeast New Mexico. The Company’s Mid-Continent region consists of Oklahoma and the Texas Panhandle. The Firm drilled or participated in approximately 219 gross (99 net) wells, of which it operated 123 gross (81.9 net) wells.
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