Arizona State Retirement System increased its position in Cimarex Energy Co (NYSE:XEC) by 2.6% in the fourth quarter, HoldingsChannel reports. The firm owned 37,623 shares of the oil and gas producer’s stock after purchasing an additional 952 shares during the quarter. Arizona State Retirement System’s holdings in Cimarex Energy were worth $4,590,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of XEC. LMR Partners LLP acquired a new position in Cimarex Energy in the fourth quarter worth about $200,000. Eagle Ridge Investment Management acquired a new position in Cimarex Energy in the fourth quarter worth about $204,000. Capital Advisors Inc. OK acquired a new position in Cimarex Energy in the fourth quarter worth about $205,000. Signition LP acquired a new position in Cimarex Energy in the fourth quarter worth about $206,000. Finally, Eagle Boston Investment Management Inc. acquired a new position in Cimarex Energy in the fourth quarter worth about $211,000. Institutional investors and hedge funds own 91.68% of the company’s stock.
XEC has been the subject of a number of research reports. Credit Suisse Group initiated coverage on Cimarex Energy in a research note on Monday, December 11th. They issued an “outperform” rating and a $140.00 price target for the company. BMO Capital Markets decreased their price target on Cimarex Energy to $125.00 and set an “outperform” rating for the company in a research note on Friday, February 16th. Morgan Stanley decreased their price target on Cimarex Energy from $168.00 to $165.00 and set an “overweight” rating for the company in a research note on Wednesday, February 7th. Jefferies Group set a $117.00 price target on Cimarex Energy and gave the stock a “hold” rating in a research note on Wednesday, December 20th. Finally, UBS Group downgraded Cimarex Energy from a “positive” rating to a “neutral” rating in a research note on Monday, November 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $139.71.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings results on Wednesday, February 14th. The oil and gas producer reported $1.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.07. The company had revenue of $550.90 million for the quarter, compared to analysts’ expectations of $537.74 million. Cimarex Energy had a return on equity of 18.73% and a net margin of 25.77%. The business’s revenue for the quarter was up 44.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 earnings per share. equities research analysts predict that Cimarex Energy Co will post 7.36 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Thursday, March 15th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Monday, May 14th. This is a boost from Cimarex Energy’s previous quarterly dividend of $0.08. Cimarex Energy’s payout ratio is 7.05%.
In other news, CEO Thomas E. Jorden sold 5,000 shares of Cimarex Energy stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $113.14, for a total transaction of $565,700.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Francis Brian Barron sold 3,000 shares of Cimarex Energy stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $112.59, for a total value of $337,770.00. Following the sale, the senior vice president now directly owns 87,723 shares in the company, valued at approximately $9,876,732.57. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,729 shares of company stock worth $1,800,003. Corporate insiders own 1.70% of the company’s stock.
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Cimarex Energy 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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