Today, Cimarex Energy Co. (XEC) Upgrade by KLR Group to Accumulate

Today, Cimarex Energy Co. (XEC) Upgrade by KLR Group to Accumulate

Cimarex Energy Co. (NYSE:XEC) was upgraded by analysts at KLR Group from a “hold” rating to an “accumulate” rating in a research report issued to clients and investors on Monday. The firm currently has a $152.00 target price on the stock, up from their prior target price of $143.00. KLR Group’s target price suggests a potential upside of 18.75% from the company’s previous close.

A number of other equities analysts have also recently weighed in on XEC. Zacks Investment Research cut Cimarex Energy from a “buy” rating to a “hold” rating in a report on Wednesday, August 17th. Citigroup Inc. boosted their price target on Cimarex Energy from $127.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, August 11th. Jefferies Group reissued a “sell” rating on shares of Cimarex Energy in a report on Thursday, August 11th. Barclays PLC boosted their price target on Cimarex Energy from $117.00 to $138.00 and gave the stock an “overweight” rating in a report on Monday, August 8th. Finally, Susquehanna raised Cimarex Energy from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $121.53 to $148.00 in a report on Friday, November 4th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the stock. Cimarex Energy has a consensus rating of “Buy” and an average price target of $127.58.

Shares of Cimarex Energy (NYSE:XEC) traded down 1.32% during trading on Monday, reaching $128.00. The company had a trading volume of 426,127 shares. The firm’s market capitalization is $12.16 billion. The firm has a 50-day moving average of $131.19 and a 200 day moving average of $124.84. Cimarex Energy has a 52 week low of $72.77 and a 52 week high of $142.20.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date is Thursday, November 10th. Cimarex Energy’s dividend payout ratio is currently -2.70%.

In related news, CEO Thomas E. Jorden sold 2,500 shares of the stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $131.19, for a total value of $327,975.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Francis Brian Barron sold 500 shares of the stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $135.54, for a total value of $67,770.00. Following the completion of the transaction, the senior vice president now directly owns 67,039 shares of the company’s stock, valued at approximately $9,086,466.06. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of XEC. Credit Agricole S A increased its position in shares of Cimarex Energy by 3.8% in the first quarter. Credit Agricole S A now owns 14,133 shares of the company’s stock worth $1,375,000 after buying an additional 511 shares in the last quarter. AXA boosted its stake in shares of Cimarex Energy by 22.3% in the first quarter. AXA now owns 1,681 shares of the company’s stock valued at $164,000 after buying an additional 307 shares during the last quarter. Riverhead Capital Management LLC boosted its stake in shares of Cimarex Energy by 9.6% in the first quarter. Riverhead Capital Management LLC now owns 23,961 shares of the company’s stock valued at $2,330,000 after buying an additional 2,093 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Cimarex Energy by 2.4% in the first quarter. Geode Capital Management LLC now owns 772,277 shares of the company’s stock valued at $74,966,000 after buying an additional 18,291 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Cimarex Energy by 36.8% in the first quarter. Wellington Management Group LLP now owns 1,912,324 shares of the company’s stock valued at $186,011,000 after buying an additional 514,536 shares during the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Cimarex Energy Company Profile

Related posts

Leave a Comment