Virginia Retirement Systems ET AL bought a new stake in shares of Cimarex Energy Co. (NYSE:XEC) during the second quarter, according to its most recent filing with the SEC. The firm bought 12,800 shares of the company’s stock, valued at approximately $1,527,000.
A number of other institutional investors also recently added to or reduced their stakes in XEC. IFP Advisors Inc boosted its position in Cimarex Energy by 119.0% in the first quarter. IFP Advisors Inc now owns 1,292 shares of the company’s stock valued at $126,000 after buying an additional 702 shares during the last quarter. Societe Generale acquired a new stake in shares of Cimarex Energy during the second quarter valued at about $128,000. Mizuho Asset Management Co. Ltd. raised its stake in shares of Cimarex Energy by 96.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,234 shares of the company’s stock valued at $147,000 after buying an additional 606 shares during the period. AXA raised 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 period. Finally, Suffolk Capital Management LLC acquired a new stake in shares of Cimarex Energy during the second quarter valued at about $211,000. Hedge funds and other institutional investors own 92.39% of the company’s stock.
Shares of Cimarex Energy Co. (NYSE:XEC) opened at 124.58 on Tuesday. The firm’s market capitalization is $11.83 billion. Cimarex Energy Co. has a 12 month low of $72.77 and a 12 month high of $136.95. The company has a 50 day moving average of $130.29 and a 200-day moving average of $116.17.
Cimarex Energy (NYSE:XEC) last announced its earnings results on Wednesday, August 3rd. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.18. Cimarex Energy had a negative return on equity of 2.41% and a negative net margin of 153.32%. The business had revenue of $298.90 million for the quarter, compared to analysts’ expectations of $279.22 million. During the same period in the prior year, the business posted $0.15 earnings per share. The firm’s revenue was down 29.6% on a year-over-year basis. Analysts predict that Cimarex Energy Co. will post $0.60 EPS for the current year.
The business also recently announced 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 annualized dividend and a yield of 0.26%. The ex-dividend date is Thursday, November 10th. Cimarex Energy’s payout ratio is presently -1.61%.
Several equities research analysts have issued reports on the stock. Canaccord Genuity reissued a “hold” rating and issued a $89.00 price target on shares of Cimarex Energy in a report on Wednesday, July 6th. Citigroup Inc. boosted their price target on shares of Cimarex Energy from $149.00 to $157.00 and gave the company a “buy” rating in a report on Monday, September 12th. Wunderlich boosted their price target on shares of Cimarex Energy from $122.00 to $139.00 and gave the company a “buy” rating in a report on Thursday, June 30th. Zacks Investment Research lowered shares of Cimarex Energy from a “buy” rating to a “hold” rating in a report on Monday, July 11th. Finally, Barclays PLC boosted their price target on shares of Cimarex Energy from $116.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, July 14th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $119.68.
In related news, CEO Thomas E. Jorden sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $119.87, for a total value of $299,675.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP John Lambuth sold 2,720 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $125.50, for a total value of $341,360.00. Following the completion of the sale, the senior vice president now owns 113,652 shares in the company, valued at $14,263,326. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.
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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