Investors Buy Large Volume of Cimarex Energy Put Options (XEC)

Cimarex Energy Co (NYSE:XEC) was the recipient of unusually large options trading activity on Tuesday. Stock traders acquired 2,706 put options on the company. This is an increase of 1,692% compared to the average volume of 151 put options.

Shares of NYSE XEC opened at $69.57 on Wednesday. The company has a current ratio of 2.01, a quick ratio of 1.93 and a debt-to-equity ratio of 0.45. The stock has a market cap of $7.10 billion, a PE ratio of 9.40 and a beta of 1.34. Cimarex Energy has a 52-week low of $55.62 and a 52-week high of $103.91.

Cimarex Energy (NYSE:XEC) last announced its quarterly earnings results on Wednesday, February 20th. The oil and gas producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.23. The firm had revenue of $624.10 million for the quarter, compared to the consensus estimate of $620.20 million. Cimarex Energy had a net margin of 33.85% and a return on equity of 23.51%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.47 EPS. On average, equities research analysts forecast that Cimarex Energy will post 5.74 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Tuesday, May 14th. This is an increase from Cimarex Energy’s previous quarterly dividend of $0.18. Cimarex Energy’s dividend payout ratio (DPR) is presently 9.73%.

In other news, Director Harold R. Logan, Jr. sold 990 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $70.00, for a total value of $69,300.00. Following the sale, the director now directly owns 7,259 shares of the company’s stock, valued at approximately $508,130. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. boosted its holdings in shares of Cimarex Energy by 33,505.1% during the 1st quarter. Meeder Asset Management Inc. now owns 19,827 shares of the oil and gas producer’s stock valued at $1,386,000 after acquiring an additional 19,768 shares during the last quarter. Confluence Investment Management LLC purchased a new stake in shares of Cimarex Energy during the 1st quarter valued at about $238,000. Retirement Systems of Alabama boosted its holdings in shares of Cimarex Energy by 7.4% during the 1st quarter. Retirement Systems of Alabama now owns 47,242 shares of the oil and gas producer’s stock valued at $3,302,000 after acquiring an additional 3,266 shares during the last quarter. Tealwood Asset Management Inc. boosted its holdings in shares of Cimarex Energy by 24.2% during the 1st quarter. Tealwood Asset Management Inc. now owns 13,330 shares of the oil and gas producer’s stock valued at $932,000 after acquiring an additional 2,599 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its holdings in shares of Cimarex Energy by 8.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 5,400 shares of the oil and gas producer’s stock valued at $377,000 after acquiring an additional 400 shares during the last quarter. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently commented on XEC shares. Barclays started coverage on shares of Cimarex Energy in a research report on Wednesday, January 16th. They set an “equal weight” rating and a $81.00 price objective on the stock. Mizuho started coverage on shares of Cimarex Energy in a research report on Tuesday, January 29th. They set a “neutral” rating and a $80.00 price objective on the stock. Ifs Securities reissued a “market perform” rating on shares of Cimarex Energy in a research report on Sunday, February 3rd. Susquehanna Bancshares downgraded shares of Cimarex Energy from a “positive” rating to a “neutral” rating in a research report on Monday, February 11th. Finally, Morgan Stanley set a $109.00 price objective on shares of Cimarex Energy and gave the company a “buy” rating in a research report on Tuesday, January 29th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the company’s stock. Cimarex Energy currently has a consensus rating of “Hold” and a consensus target price of $108.16.

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Cimarex Energy Company Profile

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, 2017, it had a total proved oil and gas reserves of 3.35 trillion cubic feet equivalent (Tcfe) consisting of 1.61 trillion cubic feet of natural gas, 0.82 Tcfe of oil, and 0.92 Tcfe of natural gas liquids primarily located in the Mid-Continent and Permian Basin regions.

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