KeyBanc maintained its Cimarex Energy [XEC] rating to the equivalent of Overweight but changed the price target to $$46.0 from $42, in a research note dated 2021-01-07. That figure represents around a 5.89% premium from where the company’s shares closed on Wednesday. Other analysts also revised their coverage, with Trust’ analysts downgrading the shares from “a Buy” rating to “a Hold” rating in a research note to investors issued in early December. Meanwhile, Raymond James had raised its rating on XEC to “an Outperform” from the earlier “Mkt perform”, in a research note produced for clients on October 21, 2020. In addition, there was an upgrade from Truist on October 13, 2020. The rater changed XEC from “a Hold” to “a Buy”.
Is Cimarex Energy Co. [NYSE:XEC] a Good Buy Right Now?
It should be noted that XEC technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 88% Buy in the last week and compares with 100% Buy in the past month. Data from Cimarex Energy Co.’s Trend Spotter indicated that the signals were Strongest. The stock current average is 1.22 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 1.48 million shares while the medium-term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 1.46 million shares.
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XEC Price Performance
On Wall Street, Cimarex Energy Co. [NYSE:XEC] finished Wednesday’s session up 4.62% at $43.45. The stock went up to $43.49 at the same session while its lowest single-day price was $41.4873. In the last five days, it saw a rise of about 17.02%, Cimarex Energy Co. shares gained by almost 15.84% since the beginning of the year. However, the share price has dropped to as low as -21.41% below its one year high. On 01/06/21, the company shares recorded $43.49, the highest single-day price it has got to in the last 52-weeks, and a 52-week low was seen on 01/04/21, the same year at $37.59. The company’s shares have declined by -21.19% in the past year. The 50-day SMA achieved is $34.80 while the 200-day SMA is $27.59. Volume dropped to 1.75 million from 1.86 million in the previous session.
XEC Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 42.13 level, and in case of violation of this particular level, it will cause more drop to 40.81 level. On the upper level, 44.81 is still the key resistance. The stock may increase to the subsequent resistance at 44.13. The Relative Strength Index (RSI) pinned on the 14-day chart is 70.96, implying an overbought technical stance while the MACD stands at 2.34, meaning price will increase in the next trading period. Percent R indicator moved to 0.58%, implying bullish price movement. Stochastic %K at 77.18% suggest selling the stock.
What is the short interest in Cimarex Energy Co.?
Short interest in the Cimarex Energy Co. stock has plunged, decreasing by -0.56 million shares to total 2.96 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 2.4 million, data from Yahoo Finance shows. The increase of 18.92% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 3.34% of the overall float for the stock.
Cimarex Energy Co.’s Biggest Shareholders: Who Owns Cimarex Energy Co. [XEC]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 10,002,051 shares or roughly 9.81% of the outstanding XEC shares. This means their shares have increased by 178,488 from the 10,002,051 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, BlackRock Fund Advisors updated stake is worth $281,963,040. Details in the latest 13F filings reveal that SSgA Funds Management, Inc. disposed off their -16.50% stake valued at $163,709,002 while Victory Capital Management, Inc. added theirs at $151,545,715. During the last quarter, SSgA Funds Management, Inc. liquidated -900,145 of its shares in Cimarex Energy Co. while Victory Capital Management, Inc. bought 138,065 shares. The Diamond Hill Capital Management,’s holdings currently number 3,085,949 shares at $134084484.05. According to the firm’s last 13F report, Dimensional Fund Advisors LP shares in the company at filing stood at 2,587,880 shares, roughly $93,034,286.
XEC Earnings Forecast For The Current Quarter
Cimarex Energy Co. [XEC] is expected to report weak earnings results for the quarter ending in Dec 2020. Consensus estimates give the company expected revenues of $401.54M and earnings per share of $0.61 for Dec 2020. Looking further ahead, the company is expected to report revenue of $453.34M at an EPS of $0.88 for Mar 2021. The estimates represent a downside of 21.30% and 312.63% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
XEC Earnings Estimates For The Current Year
For the financial year, Cimarex Energy Co. [NYSE:XEC] is expected to bring in revenue of $1.56B. The returns are nearly $-800.0 million lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 0.94, lower than that of FY19 by -$3.52. Estimates put this year’s earnings growth at -78.90%, 313.80% for the next, and at an annual 14.72% over the next 5-year period. As for sales, forecasts are for a decrease of -34.10% in the current fiscal year and a further 21.30% over the following year.