Cimarex Energy Sees Unusually High Options Volume (NYSE:XEC)

Cimarex Energy Co (NYSE:XEC) saw some unusual options trading activity on Thursday. Investors bought 6,842 call options on the stock. This represents an increase of approximately 1,255% compared to the typical volume of 505 call options.

Shares of NYSE:XEC opened at $48.13 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $5.08 billion, a PE ratio of 9.55 and a beta of 1.41. Cimarex Energy has a twelve month low of $37.19 and a twelve month high of $77.10. The company has a 50-day moving average price of $51.10 and a two-hundred day moving average price of $47.33.

Cimarex Energy (NYSE:XEC) last issued its earnings results on Monday, November 4th. The oil and gas producer reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). The business had revenue of $582.31 million for the quarter, compared to the consensus estimate of $575.31 million. Cimarex Energy had a return on equity of 13.02% and a net margin of 21.13%. Cimarex Energy’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.99 EPS. Analysts anticipate that Cimarex Energy will post 4.04 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, February 13th. This represents a $0.80 dividend on an annualized basis and a yield of 1.66%. Cimarex Energy’s dividend payout ratio is presently 10.81%.

In other news, SVP Francis Brian Barron sold 2,500 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $47.84, for a total value of $119,600.00. Also, VP Stephen P. Bell sold 9,067 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $47.84, for a total transaction of $433,765.28. In the last quarter, insiders sold 14,067 shares of company stock valued at $690,865. 1.70% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. Wealthfront Advisers LLC boosted its position in Cimarex Energy by 51.1% during the fourth quarter. Wealthfront Advisers LLC now owns 29,242 shares of the oil and gas producer’s stock worth $1,535,000 after purchasing an additional 9,886 shares during the period. Sippican Capital Advisors boosted its position in Cimarex Energy by 6.7% during the fourth quarter. Sippican Capital Advisors now owns 15,143 shares of the oil and gas producer’s stock worth $795,000 after purchasing an additional 953 shares during the period. Janney Montgomery Scott LLC boosted its position in Cimarex Energy by 73.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 22,948 shares of the oil and gas producer’s stock worth $1,205,000 after purchasing an additional 9,746 shares during the period. Caymus Capital Partners L.P. boosted its position in Cimarex Energy by 78.4% during the fourth quarter. Caymus Capital Partners L.P. now owns 199,800 shares of the oil and gas producer’s stock worth $10,488,000 after purchasing an additional 87,800 shares during the period. Finally, Zeke Capital Advisors LLC bought a new position in Cimarex Energy during the fourth quarter worth about $227,000. Hedge funds and other institutional investors own 97.80% of the company’s stock.

Several research firms recently weighed in on XEC. JPMorgan Chase & Co. upgraded shares of Cimarex Energy from a “neutral” rating to an “overweight” rating and increased their price target for the company from $62.00 to $70.00 in a research report on Thursday, January 9th. Williams Capital restated a “buy” rating and set a $64.00 price target on shares of Cimarex Energy in a research report on Tuesday, November 5th. Wells Fargo & Co increased their price target on shares of Cimarex Energy from $52.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, January 9th. Susquehanna Bancshares restated a “negative” rating and set a $61.00 price target (down previously from $63.00) on shares of Cimarex Energy in a research report on Monday, January 13th. Finally, SunTrust Banks increased their price target on shares of Cimarex Energy from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $65.76.

About Cimarex Energy

Cimarex Energy Co operates as an independent oil and gas exploration and production company primarily in Oklahoma, Texas, and New Mexico. As of December 31, 2018, it had a total proved reserves of 591.2 million barrels of oil equivalent, consisting of 1.59 trillion cubic feet of natural gas; 146.5 million barrels (MMBbls) of oil; and 179.4 MMBbls of natural gas liquids primarily located in the Permian Basin and Mid-Continent regions.

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