Dimensional Fund Advisors LP reduced its stake in shares of Cimarex Energy Co. (NYSE:XEC) by 12.3% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 483,160 shares of the company’s stock after selling 67,630 shares during the period. Dimensional Fund Advisors LP owned approximately 0.51% of Cimarex Energy worth $57,648,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. IFP Advisors Inc raised its stake in shares of 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 last quarter. Societe Generale acquired a new stake in shares of Cimarex Energy during the second quarter valued at approximately $128,000. AXA raised its stake in shares of 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 last quarter. Suffolk Capital Management LLC acquired a new stake in shares of Cimarex Energy during the second quarter valued at approximately $211,000. Finally, BB&T Corp acquired a new stake in shares of Cimarex Energy during the second quarter valued at approximately $212,000. 92.39% of the stock is owned by institutional investors.
Shares of Cimarex Energy Co. (NYSE:XEC) traded up 2.37% during midday trading on Wednesday, reaching $137.91. The company’s stock had a trading volume of 320,099 shares. The company’s 50-day moving average price is $130.63 and its 200-day moving average price is $117.67. The company’s market cap is $13.10 billion. Cimarex Energy Co. has a 12 month low of $72.77 and a 12 month high of $138.79.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.18. The firm had revenue of $298.90 million for the quarter, compared to analysts’ expectations of $279.22 million. Cimarex Energy had a negative return on equity of 2.41% and a negative net margin of 153.32%. The company’s revenue was down 29.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.15 EPS. On average, equities analysts anticipate that Cimarex Energy Co. will post $0.62 EPS for the current fiscal 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 issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. Cimarex Energy’s payout ratio is -1.61%.
Several brokerages recently commented on XEC. Wunderlich upped their target price on Cimarex Energy from $122.00 to $139.00 and gave the company a “buy” rating in a research report on Thursday, June 30th. Zacks Investment Research lowered Cimarex Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, August 17th. Jefferies Group restated a “sell” rating on shares of Cimarex Energy in a research report on Thursday, August 11th. Citigroup Inc. increased their price target on Cimarex Energy from $127.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, August 11th. Finally, Barclays PLC increased their price target on Cimarex Energy from $117.00 to $138.00 and gave the stock an “overweight” rating in a report on Monday, August 8th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the company. Cimarex Energy currently has a consensus rating of “Hold” and an average target price of $119.68.
In other news, SVP Francis Brian Barron sold 500 shares of the stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $135.54, for a total transaction of $67,770.00. Following the transaction, the senior vice president now directly owns 67,039 shares of the company’s stock, valued at approximately $9,086,466.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Harold R. Logan, Jr. sold 993 shares of the company’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $128.50, for a total value of $127,600.50. Following the completion of the sale, the director now owns 9,768 shares of the company’s stock, valued at $1,255,188. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
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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