Spectrum Management Group Inc. acquired a new position in Cimarex Energy Co. (NYSE:XEC) during the second quarter, Holdings Channel reports. The institutional investor acquired 4,605 shares of the company’s stock, valued at approximately $549,000.
Several other hedge funds have also recently bought and sold shares of the company. Carnick & Kubik LLC purchased a new stake in Cimarex Energy during the first quarter worth approximately $968,000. Aviva PLC increased its stake in Cimarex Energy by 4.1% in the first quarter. Aviva PLC now owns 48,025 shares of the company’s stock worth $4,671,000 after buying an additional 1,882 shares in the last quarter. ING Groep NV purchased a new stake in Cimarex Energy during the first quarter worth approximately $1,041,000. Investec Asset Management LTD purchased a new stake in Cimarex Energy during the first quarter worth approximately $10,298,000. Finally, M&T Bank Corp increased its stake in Cimarex Energy by 1.2% in the first quarter. M&T Bank Corp now owns 10,555 shares of the company’s stock worth $1,027,000 after buying an additional 122 shares in the last quarter. 92.39% of the stock is currently owned by institutional investors.
Cimarex Energy Co. (NYSE:XEC) traded down 1.06% during mid-day trading on Friday, hitting $137.58. The stock had a trading volume of 754,370 shares. Cimarex Energy Co. has a 52 week low of $72.77 and a 52 week high of $142.07. The stock’s 50-day moving average is $132.34 and its 200 day moving average is $119.37. The company’s market capitalization is $13.07 billion.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.07 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $279.22 million. During the same period last year, the company earned $0.15 EPS. The firm’s revenue was down 29.6% on a year-over-year basis. Equities analysts forecast that Cimarex Energy Co. will post $0.62 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be given a $0.08 dividend. The ex-dividend date is Thursday, November 10th. This represents a $0.32 annualized dividend and a dividend yield of 0.23%. Cimarex Energy’s dividend payout ratio is currently -1.61%.
XEC has been the topic of a number of recent analyst reports. Wells Fargo & Co. initiated coverage on Cimarex Energy in a research report on Wednesday, August 31st. They set an “outperform” rating and a $150.00 target price on the stock. Williams Capital initiated coverage on Cimarex Energy in a research report on Monday, August 29th. They set a “hold” rating and a $143.00 target price on the stock. FBR & Co initiated coverage on Cimarex Energy in a research report on Tuesday, September 13th. They set an “outperform” rating and a $160.00 target price on the stock. Stifel Nicolaus reaffirmed a “buy” rating on shares of Cimarex Energy in a research report on Wednesday, August 31st. Finally, Citigroup Inc. boosted their target price on Cimarex Energy from $149.00 to $157.00 and gave the stock a “buy” rating in a research report on Monday, September 12th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the company. Cimarex Energy presently has an average rating of “Hold” and an average target price of $119.68.
In other news, SVP Francis Brian Barron sold 500 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $135.54, for a total value of $67,770.00. Following the transaction, the senior vice president now directly owns 67,039 shares in the company, valued at approximately $9,086,466.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO G Mark Burford sold 2,000 shares of the firm’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $130.00, for a total value of $260,000.00. Following the completion of the transaction, the chief financial officer now owns 38,039 shares in the company, valued at $4,945,070. The disclosure for this sale can be found here. 2.00% of the stock is owned by 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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