Essex Investment Management Co. LLC boosted its stake in shares of Cimarex Energy Co. (NYSE:XEC) by 242.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,399 shares of the company’s stock after buying an additional 8,775 shares during the period. Essex Investment Management Co. LLC’s holdings in Cimarex Energy were worth $1,479,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in XEC. 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. 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. Conning Inc. raised its position in Cimarex Energy by 0.4% in the second quarter. Conning Inc. now owns 2,640 shares of the company’s stock valued at $315,000 after buying an additional 10 shares during the period. Finally, Fox Run Management L.L.C. bought a new position in Cimarex Energy during the second quarter valued at approximately $322,000. 92.39% of the stock is owned by hedge funds and other institutional investors.
Shares of Cimarex Energy Co. (NYSE:XEC) traded up 2.78% during mid-day trading on Friday, reaching $134.37. 993,420 shares of the company’s stock traded hands. The firm’s market cap is $12.76 billion. The company’s 50 day moving average is $130.41 and its 200-day moving average is $116.85. 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 for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.18. The business earned $298.90 million during the quarter, compared to analyst estimates of $279.22 million. Cimarex Energy had a negative net margin of 153.32% and a negative return on equity of 2.41%. Cimarex Energy’s revenue for the quarter was down 29.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 earnings per share. Equities analysts expect 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. Investors of record on Tuesday, November 15th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date is Thursday, November 10th. Cimarex Energy’s dividend payout ratio is currently -1.61%.
Several equities analysts have recently commented on XEC shares. Williams Capital started coverage on Cimarex Energy in a report on Monday, August 29th. They set a “hold” rating and a $143.00 target price for the company. FBR & Co started coverage on Cimarex Energy in a report on Tuesday, September 13th. They set an “outperform” rating and a $160.00 target price for the company. Citigroup Inc. upped 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. Barclays PLC upped their target price on Cimarex Energy from $117.00 to $138.00 and gave the company an “overweight” rating in a report on Monday, August 8th. Finally, Zacks Investment Research lowered Cimarex Energy from a “buy” rating to a “hold” rating in a report on Monday, July 11th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $119.68.
In other news, VP Gary R. Abbott sold 7,500 shares of Cimarex Energy stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $132.00, for a total transaction of $990,000.00. Following the transaction, the vice president now directly owns 104,072 shares of the company’s stock, valued at $13,737,504. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 $8,857,739.85. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.
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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