The stock of Cimarex Energy Co (NYSE:XEC) is a huge mover today! About 387,303 shares traded hands. Cimarex Energy Co (NYSE:XEC) has risen 47.19% since March 11, 2016 and is uptrending. It has outperformed by 41.73% the S&P500.
The move comes after 8 months negative chart setup for the $13.00 billion company. It was reported on Oct, 14 by Barchart.com. We have $130.68 PT which if reached, will make NYSE:XEC worth $650.00M less.
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 $36.86 million for 88.18 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. The stock has “Buy” rating given by Wunderlich on Friday, May 6. Wunderlich upgraded the stock to “Buy” rating in Thursday, January 28 report. Citigroup maintained Cimarex Energy Co (NYSE:XEC) on Thursday, August 11 with “Buy” rating. The stock of Cimarex Energy Co (NYSE:XEC) earned “Buy” rating by Wunderlich on Thursday, June 30. Susquehanna initiated the stock with “Neutral” rating in Friday, October 30 report. CapitalOne initiated the shares of XEC in a report on Tuesday, December 22 with “Overweight” rating. JP Morgan initiated Cimarex Energy Co (NYSE:XEC) rating on Wednesday, December 9. JP Morgan has “Neutral” rating and $118 price target. Williams Capital Group initiated the shares of XEC in a report on Monday, August 29 with “Hold” rating. The rating was upgraded by CLSA to “Underperform” on Wednesday, August 12. The stock of Cimarex Energy Co (NYSE:XEC) earned “Overweight” rating by Barclays Capital on Friday, February 19.
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 improved, 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.
The Germany-based Deutsche Fincl Bank Ag has invested 0.03% in Cimarex Energy Co (NYSE:XEC). Moreover, Assetmark has 0% invested in Cimarex Energy Co (NYSE:XEC) for 111 shares. The Ontario – Canada-based Royal Comml Bank Of Canada has invested 0% in Cimarex Energy Co (NYSE:XEC). New York State Common Retirement Fund holds 0.06% or 339,320 shares in its portfolio. Point72 Asia (Hong Kong) Limited owns 1,100 shares or 0.15% of their US portfolio. Investec Asset Management Ltd has 151,974 shares for 0.09% of their US portfolio. D E Shaw And holds 0.02% or 94,190 shares in its portfolio. Mizuho Asset Management Coltd holds 0.03% of its portfolio in Cimarex Energy Co (NYSE:XEC) for 1,234 shares. Adams Natural Resources Fund Incorporated holds 1.8% of its portfolio in Cimarex Energy Co (NYSE:XEC) for 96,100 shares. Nikko Asset Americas last reported 0.45% of its portfolio in the stock. Moreover, Hartford Investment Management Co has 0.06% invested in Cimarex Energy Co (NYSE:XEC) for 22,562 shares. Yhb Inv Advsr has 0.77% invested in the company for 29,434 shares. Morgan Stanley accumulated 468,697 shares or 0.02% of the stock. The New York-based Neuberger Berman Ltd Company has invested 0.12% in Cimarex Energy Co (NYSE:XEC). Great West Life Assurance Can accumulated 0.03% or 93,364 shares.
Insider Transactions: Since May 6, 2016, the stock had 0 buys, and 23 selling transactions for $6.42 million net activity. $327,975 worth of Cimarex Energy Co (NYSE:XEC) was sold by JORDEN THOMAS E on Thursday, September 1. Another trade for 3,000 shares valued at $342,000 was sold by Burford G Mark. $990,000 worth of Cimarex Energy Co (NYSE:XEC) was sold by Abbott Gary R on Tuesday, August 23. $195,750 worth of Cimarex Energy Co (NYSE:XEC) shares were sold by ALBI JOSEPH R. 500 Cimarex Energy Co (NYSE:XEC) shares with value of $67,768 were sold by Barron Francis Brian. Shares for $19,982 were sold by TEAGUE L PAUL. SHONSEY JAMES H sold $393,860 worth of Cimarex Energy Co (NYSE:XEC) on Monday, August 15.
More news for Cimarex Energy Co (NYSE:XEC) were recently published by: Prnewswire.com, which released: “Cimarex Schedules Third Quarter 2016 Earnings Release and Conference Call” on October 04, 2016. Forbes.com‘s article titled: “Cash Dividend On The Way From Cimarex Energy (XEC)” and published on August 09, 2016 is yet another important article.
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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