Louisiana State Employees Retirement System increased its position in shares of Cimarex Energy Co (NYSE:XEC) by 1.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,900 shares of the oil and gas producer’s stock after buying an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Cimarex Energy were worth $555,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in XEC. Global X Management Co. LLC raised its position in shares of Cimarex Energy by 14.1% in the first quarter. Global X Management Co. LLC now owns 1,103 shares of the oil and gas producer’s stock worth $132,000 after buying an additional 136 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Cimarex Energy by 0.7% in the second quarter. State of Alaska Department of Revenue now owns 1,427 shares of the oil and gas producer’s stock worth $134,000 after buying an additional 10 shares in the last quarter. Winch Advisory Services LLC bought a new position in shares of Cimarex Energy during the first quarter worth approximately $186,000. Eagle Ridge Investment Management raised its position in shares of Cimarex Energy by 3.0% in the first quarter. Eagle Ridge Investment Management now owns 1,720 shares of the oil and gas producer’s stock worth $206,000 after buying an additional 50 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in shares of Cimarex Energy by 11.8% in the first quarter. Parallel Advisors LLC now owns 1,785 shares of the oil and gas producer’s stock worth $211,000 after buying an additional 188 shares in the last quarter. 93.07% of the stock is owned by institutional investors and hedge funds.
Cimarex Energy Co (NYSE:XEC) traded down 0.45% during mid-day trading on Thursday, hitting $100.41. 570,867 shares of the stock traded hands. Cimarex Energy Co has a one year low of $89.49 and a one year high of $146.96. The stock has a market capitalization of $9.57 billion, a PE ratio of 35.75 and a beta of 1.32. The company has a 50 day moving average price of $94.72 and a 200-day moving average price of $113.24.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $1.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.11. Cimarex Energy had a net margin of 15.64% and a return on equity of 13.46%. The company had revenue of $456.50 million for the quarter, compared to analyst estimates of $441.52 million. During the same period in the prior year, the firm posted $0.07 EPS. The company’s quarterly revenue was up 52.7% on a year-over-year basis. Equities analysts anticipate that Cimarex Energy Co will post $4.09 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend is Friday, August 11th. Cimarex Energy’s dividend payout ratio is currently 12.03%.
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XEC has been the subject of several recent research reports. BMO Capital Markets set a $150.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Monday, May 15th. Williams Capital raised shares of Cimarex Energy from a “hold” rating to a “buy” rating and increased their price target for the stock from $148.00 to $160.00 in a research report on Monday, May 15th. They noted that the move was a valuation call. KLR Group reissued a “buy” rating and issued a $151.00 price target (up previously from $149.00) on shares of Cimarex Energy in a research report on Wednesday, May 17th. Citigroup Inc. reissued a “buy” rating and issued a $166.00 price target (up previously from $164.00) on shares of Cimarex Energy in a research report on Saturday, April 22nd. Finally, FBR & Co set a $141.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Thursday, May 18th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company. Cimarex Energy has a consensus rating of “Hold” and a consensus price target of $137.05.
In other news, CEO Thomas E. Jorden sold 2,500 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $116.40, for a total value of $291,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Stephen P. Bell sold 5,000 shares of the company’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $117.24, for a total transaction of $586,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,538 shares of company stock worth $1,001,760. Insiders own 1.70% 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.
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