The Jefferies Group Upgrades Cimarex Energy Co (XEC) to “Hold”

The Jefferies Group Upgrades Cimarex Energy Co (XEC) to “Hold”

Cimarex Energy Co (NYSE:XEC) was upgraded by stock analysts at Jefferies Group from an “underperform” rating to a “hold” rating in a research note issued to investors on Tuesday. The firm presently has a $131.00 price target on the stock. Jefferies Group’s price target would indicate a potential downside of 5.31% from the company’s previous close.

XEC has been the subject of several other research reports. SunTrust Banks Inc. cut shares of Cimarex Energy from a “buy” rating to a “hold” rating in a research report on Tuesday. Wells Fargo & Company cut shares of Cimarex Energy from an “outperform” rating to a “market perform” rating in a research report on Friday, December 16th. KLR Group upgraded shares of Cimarex Energy from a “hold” rating to an “accumulate” rating and upped their target price for the stock from $143.00 to $152.00 in a research report on Monday, November 7th. Susquehanna upgraded shares of Cimarex Energy from a “neutral” rating to a “positive” rating and upped their target price for the stock from $121.53 to $148.00 in a research report on Friday, November 4th. Finally, FBR & Co restated a “buy” rating on shares of Cimarex Energy in a research report on Thursday, November 3rd. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Cimarex Energy has an average rating of “Buy” and an average price target of $133.50.

Cimarex Energy (NYSE:XEC) opened at 138.34 on Tuesday. The stock’s 50 day moving average is $138.48 and its 200-day moving average is $130.47. The stock’s market capitalization is $13.14 billion. Cimarex Energy has a 52 week low of $72.77 and a 52 week high of $146.96.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 1st. Investors of record on Wednesday, February 15th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.23%. Cimarex Energy’s dividend payout ratio (DPR) is presently -2.70%.

In other Cimarex Energy news, SVP Francis Brian Barron sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, December 2nd. The shares were sold at an average price of $138.86, for a total value of $277,720.00. Following the transaction, the senior vice president now owns 66,039 shares in the company, valued at approximately $9,170,175.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Thomas E. Jorden sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $122.50, for a total transaction of $306,250.00. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System raised its position in Cimarex Energy by 4.2% in the second quarter. New York State Teachers Retirement System now owns 169,774 shares of the company’s stock valued at $20,257,000 after buying an additional 6,900 shares in the last quarter. Shell Asset Management Co. raised its position in Cimarex Energy by 106.5% in the second quarter. Shell Asset Management Co. now owns 27,330 shares of the company’s stock valued at $3,261,000 after buying an additional 14,095 shares in the last quarter. Rothschild Capital Partners LLC raised its position in Cimarex Energy by 37.5% in the second quarter. Rothschild Capital Partners LLC now owns 46,800 shares of the company’s stock valued at $5,584,000 after buying an additional 12,775 shares in the last quarter. Conning Inc. raised its position in Cimarex Energy by 0.4% in the second quarter. Conning Inc. now owns 2,640 shares of the company’s stock valued at $315,000 after buying an additional 10 shares in the last quarter. Finally, Sippican Capital Advisors raised its position in Cimarex Energy by 3.4% in the second quarter. Sippican Capital Advisors now owns 6,669 shares of the company’s stock valued at $796,000 after buying an additional 222 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

About Cimarex Energy

Cimarex Energy Co is an independent oil and gas exploration and production company. The Company’s segment is exploration and production. Its operations are located mainly in Oklahoma, Texas and New Mexico. Its operations are focused in approximately two main areas, such as the Permian Basin and the Mid-Continent region.

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