Shell Asset Management Co. boosted its stake in Cimarex Energy Co. (NYSE:XEC) by 106.5% during the second quarter, Holdings Channel reports. The firm owned 27,330 shares of the company’s stock after buying an additional 14,095 shares during the period. Shell Asset Management Co.’s holdings in Cimarex Energy were worth $3,261,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc raised 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 period. AXA raised its position in 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. OLD National Bancorp IN purchased a new position in Cimarex Energy during the first quarter valued at approximately $278,000. Commonwealth Equity Services Inc raised its position in Cimarex Energy by 8.1% in the first quarter. Commonwealth Equity Services Inc now owns 2,880 shares of the company’s stock valued at $280,000 after buying an additional 215 shares during the period. Finally, Creative Planning raised its position in Cimarex Energy by 21.7% in the second quarter. Creative Planning now owns 2,593 shares of the company’s stock valued at $309,000 after buying an additional 463 shares during the period. 92.38% of the stock is currently owned by institutional investors.
Cimarex Energy Co. (NYSE:XEC) traded down 3.27% during trading on Friday, reaching $123.80. The company had a trading volume of 846,648 shares. The company has a 50-day moving average price of $130.35 and a 200 day moving average price of $115.59. The stock’s market cap is $11.76 billion. Cimarex Energy Co. has a 52-week low of $72.77 and a 52-week high of $136.95.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.07 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $298.90 million for the quarter, compared to analysts’ expectations of $279.22 million. During the same period last year, the firm earned $0.15 EPS. The firm’s revenue for the quarter was down 29.6% on a year-over-year basis. On average, analysts anticipate that Cimarex Energy Co. will post $0.60 earnings per share for the current year.
The company 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 dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend is Thursday, November 10th. Cimarex Energy’s dividend payout ratio (DPR) is presently -1.61%.
Several research firms have commented on XEC. Canaccord Genuity reaffirmed a “hold” rating and set a $89.00 price target on shares of Cimarex Energy in a research report on Wednesday, July 6th. Citigroup Inc. boosted their target price on 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 target price on 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 Cimarex Energy from a “buy” rating to a “hold” rating in a report on Monday, July 11th. Finally, Barclays PLC boosted their target price on Cimarex Energy from $116.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, July 14th. Two 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 currently has a consensus rating of “Hold” and a consensus target price of $119.68.
In other news, SVP Francis Brian Barron sold 500 shares of Cimarex Energy stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $131.15, for a total transaction of $65,575.00. Following the transaction, the senior vice president now directly owns 67,539 shares in the company, valued at approximately $8,857,739.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas E. Jorden sold 2,500 shares of Cimarex Energy stock in a transaction on Friday, July 1st. The shares were sold at an average price of $119.87, for a total value of $299,675.00. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
Cimarex Energy Company Profile
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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