Solaris Asset Management LLC increased its stake in shares of Cimarex Energy Co. (NYSE:XEC) by 108.9% during the second quarter, Holdings Channel reports. The firm owned 7,520 shares of the company’s stock after buying an additional 3,920 shares during the period. Solaris Asset Management LLC’s holdings in Cimarex Energy were worth $897,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Norges Bank bought a new position in shares of Cimarex Energy during the fourth quarter valued at about $65,548,000. Chevy Chase Trust Holdings Inc. boosted its position in Cimarex Energy by 4.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 80,112 shares of the company’s stock valued at $7,792,000 after buying an additional 3,612 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Cimarex Energy by 12.8% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 24,380 shares of the company’s stock valued at $2,371,000 after buying an additional 2,762 shares during the last quarter. Exxonmobil Investment Management Inc. TX boosted its position in Cimarex Energy by 8.9% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 23,086 shares of the company’s stock valued at $2,246,000 after buying an additional 1,891 shares during the last quarter. Finally, OLD National Bancorp IN acquired a new position in Cimarex Energy during the first quarter valued at about $278,000. Hedge funds and other institutional investors own 92.38% of the company’s stock.
Shares of Cimarex Energy Co. (NYSE:XEC) traded up 0.63% on Monday, hitting $124.58. The company had a trading volume of 1,005,169 shares. 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 $130.35 and a 200-day moving average of $115.59. The company’s market cap is $11.83 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. The firm had revenue of $298.90 million for 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%. The firm’s quarterly revenue was down 29.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.15 earnings per share. On average, analysts forecast that Cimarex Energy Co. will post $0.60 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders 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 yield of 0.26%. Cimarex Energy’s dividend payout ratio (DPR) is -1.61%.
XEC has been the topic of several recent analyst reports. Stifel Nicolaus reiterated a “buy” rating on shares of Cimarex Energy in a research report on Wednesday, August 31st. Jefferies Group reiterated a “sell” rating on shares of Cimarex Energy in a research report on Thursday, August 11th. Deutsche Bank AG boosted their target price on Cimarex Energy from $120.00 to $140.00 and gave the stock a “hold” rating in a research report on Wednesday, August 10th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Cimarex Energy in a research report on Thursday, June 30th. Finally, Zacks Investment Research upgraded Cimarex Energy from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research report on Tuesday, July 12th. Two equities research 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. The stock presently has an average rating of “Hold” and a consensus price target of $119.68.
In other Cimarex Energy news, SVP Francis Brian Barron sold 500 shares of Cimarex Energy stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $135.54, for a total value of $67,770.00. Following the transaction, the senior vice president now owns 67,039 shares in the company, valued at $9,086,466.06. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Thomas E. Jorden sold 2,500 shares of Cimarex Energy stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $119.87, for a total transaction of $299,675.00. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company 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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