Noteworthy Price Action: Cimarex Energy Co’s Trend Up, Especially After Today’s Strong Session

Noteworthy Price Action: Cimarex Energy Co's Trend Up, Especially After Today's Strong Session

The stock of Cimarex Energy Co (NYSE:XEC) is a huge mover today! About 876,669 shares traded hands. Cimarex Energy Co (NYSE:XEC) has risen 10.14% since April 27, 2016 and is uptrending. It has outperformed by 4.92% the S&P500.
The move comes after 9 months positive chart setup for the $13.15B company. It was reported on Nov, 30 by Barchart.com. We have $147.92 PT which if reached, will make NYSE:XEC worth $920.50 million more.

Analysts await Cimarex Energy Co (NYSE:XEC) to report earnings on February, 21. They expect $0.57 EPS, up 328.00% or $0.82 from last year’s $-0.25 per share. XEC’s profit will be $54.22 million for 60.63 P/E if the $0.57 EPS becomes a reality. After $0.41 actual EPS reported by Cimarex Energy Co for the previous quarter, Wall Street now forecasts 39.02% EPS growth.

Cimarex Energy Co (NYSE:XEC) Ratings Coverage

Out of 22 analysts covering Cimarex Energy (NYSE:XEC), 16 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 73% are positive. Cimarex Energy has been the topic of 52 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Topeka Capital Markets maintained Cimarex Energy Co (NYSE:XEC) on Monday, January 25 with “Hold” rating. The rating was upgraded by Credit Agricole to “Outperform” on Monday, August 10. The rating was initiated by Canaccord Genuity with “Hold” on Tuesday, October 20. The firm has “Neutral” rating given on Wednesday, December 9 by JP Morgan. The rating was initiated by Susquehanna on Friday, October 30 with “Neutral”. CapitalOne initiated Cimarex Energy Co (NYSE:XEC) on Tuesday, December 22 with “Overweight” rating. The rating was upgraded by Wunderlich on Thursday, January 28 to “Buy”. The stock of Cimarex Energy Co (NYSE:XEC) earned “Outperform” rating by Wells Fargo on Wednesday, August 31. The rating was maintained by Barclays Capital on Thursday, July 14 with “Overweight”. The rating was upgraded by KLR Group on Monday, November 7 to “Accumulate”.

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 decreased to 1.05 in Q2 2016. Its down 0.04, from 1.09 in 2016Q1. The ratio dived, 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.
Financial Bank Of America De reported 149,724 shares or 0% of all its holdings. Dai Ichi Life Insurance Com accumulated 0.1% or 28,850 shares. Ameriprise Fincl accumulated 0.03% or 450,909 shares. Folger Nolan Fleming Douglas Inc, a -based fund reported 4,000 shares. Rafferty Asset Mgmt Limited Liability Corp last reported 2,447 shares in the company. Deutsche Savings Bank Ag last reported 378,360 shares in the company. Amica Retiree Trust has invested 0.06% of its portfolio in Cimarex Energy Co (NYSE:XEC). Royal London Asset Mgmt Ltd holds 0.07% of its portfolio in Cimarex Energy Co (NYSE:XEC) for 33,475 shares. Grace White Ny has invested 0.3% of its portfolio in Cimarex Energy Co (NYSE:XEC). Com Of Vermont holds 0.33% or 20,881 shares in its portfolio. Bluemountain Management Ltd Llc has 0.04% invested in the company for 12,734 shares. First Pacific Ltd Llc has 528,720 shares for 0.53% of their US portfolio. Element Llc owns 5,844 shares or 0.11% of their US portfolio. Mutual Of America Cap Management Ltd Liability Corporation last reported 11,034 shares in the company. Assetmark last reported 0% of its portfolio in the stock.

Insider Transactions: Since June 6, 2016, the stock had 0 buys, and 20 selling transactions for $6.30 million net activity. The insider ALBI JOSEPH R sold 3,093 shares worth $381,879. On Thursday, September 1 the insider JORDEN THOMAS E sold $327,975. LOGAN HAROLD R JR had sold 993 shares worth $127,598 on Wednesday, August 17. 500 shares with value of $65,573 were sold by Barron Francis Brian on Thursday, August 11. Shares for $393,860 were sold by SHONSEY JAMES H. Another trade for 2,000 shares valued at $242,491 was sold by Robertson Monroe W. Another trade for 2,720 shares valued at $341,360 was sold by Lambuth John.

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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