TIAA CREF Investment Management LLC Increases Position in Cimarex Energy Co (XEC)

TIAA CREF Investment Management LLC increased its position in shares of Cimarex Energy Co (NYSE:XEC) by 8.2% during the first quarter, Holdings Channel reports. The firm owned 353,314 shares of the oil and gas producer’s stock after buying an additional 26,730 shares during the period. TIAA CREF Investment Management LLC owned 0.38% of Cimarex Energy worth $42,217,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in XEC. State Street Corp raised its position in shares of Cimarex Energy by 2.8% in the fourth quarter. State Street Corp now owns 5,010,728 shares of the oil and gas producer’s stock worth $680,962,000 after buying an additional 136,374 shares during the period. Diamond Hill Capital Management Inc. raised its position in shares of Cimarex Energy by 15.0% in the first quarter. Diamond Hill Capital Management Inc. now owns 3,755,729 shares of the oil and gas producer’s stock worth $448,772,000 after buying an additional 489,278 shares during the period. Artisan Partners Limited Partnership raised its position in shares of Cimarex Energy by 3.4% in the first quarter. Artisan Partners Limited Partnership now owns 1,559,704 shares of the oil and gas producer’s stock worth $186,369,000 after buying an additional 51,470 shares during the period. Boston Partners increased its stake in Cimarex Energy by 109.3% in the first quarter. Boston Partners now owns 1,447,104 shares of the oil and gas producer’s stock worth $172,915,000 after buying an additional 755,553 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Cimarex Energy by 5.0% in the first quarter. Ameriprise Financial Inc. now owns 1,140,512 shares of the oil and gas producer’s stock worth $136,271,000 after buying an additional 54,101 shares in the last quarter. Institutional investors and hedge funds own 92.22% of the company’s stock.

Institutional Ownership by Quarter for Cimarex Energy (NYSE:XEC)

Shares of Cimarex Energy Co (NYSE XEC) traded down 3.95% during trading on Wednesday, reaching $99.83. 1,998,290 shares of the company traded hands. The stock’s market capitalization is $9.32 billion. The firm’s 50-day moving average is $114.70 and its 200-day moving average is $126.31. Cimarex Energy Co has a 12-month low of $98.77 and a 12-month high of $146.96.

Cimarex Energy (NYSE:XEC) last announced its quarterly earnings data on Wednesday, May 10th. The oil and gas producer reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.20. The firm had revenue of $447.20 million during the quarter, compared to analyst estimates of $423.62 million. Cimarex Energy had a net margin of 29.29% and a return on equity of 24.27%. The business’s quarterly revenue was up 85.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.40) EPS. On average, equities analysts predict that Cimarex Energy Co will post $4.70 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.32%. Cimarex Energy’s payout ratio is -2.70%.

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XEC has been the subject of a number of recent research reports. Barclays PLC reissued an “overweight” rating and issued a $129.00 price objective (down previously from $139.00) on shares of Cimarex Energy in a report on Saturday, April 22nd. KLR Group reissued a “buy” rating and issued a $151.00 price objective (up previously from $149.00) on shares of Cimarex Energy in a report on Wednesday, May 17th. Citigroup Inc reissued a “buy” rating and issued a $166.00 price objective (up previously from $164.00) on shares of Cimarex Energy in a report on Saturday, April 22nd. BMO Capital Markets boosted their price objective on shares of Cimarex Energy from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Tuesday, February 21st. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $123.00 price objective on shares of Cimarex Energy in a report on Tuesday, April 18th. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Cimarex Energy currently has a consensus rating of “Buy” and a consensus target price of $144.29.

In other news, VP Stephen P. Bell sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $117.24, for a total value of $586,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director L Paul Teague sold 815 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $122.85, for a total transaction of $100,122.75. Following the completion of the sale, the director now owns 45,432 shares of the company’s stock, valued at $5,581,321.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,853 shares of company stock valued at $1,409,383. Company 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 operates in exploration and production (E&P) segment. Its operations are located in Oklahoma, Texas and New Mexico. Its E&P activities take place primarily in two areas: the Permian Basin and the Mid-Continent region.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “XEC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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