The Manufacturers Life Insurance Company raised its position in Cimarex Energy Co (NYSE:XEC) by 1.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 107,795 shares of the oil and gas producer’s stock after acquiring an additional 1,658 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Cimarex Energy were worth $13,152,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Wells Fargo & Company MN increased its stake in Cimarex Energy by 11.4% in the 4th quarter. Wells Fargo & Company MN now owns 1,506,133 shares of the oil and gas producer’s stock valued at $183,763,000 after buying an additional 153,665 shares during the period. First Trust Advisors LP increased its stake in Cimarex Energy by 62.0% in the 4th quarter. First Trust Advisors LP now owns 112,493 shares of the oil and gas producer’s stock valued at $13,725,000 after buying an additional 43,051 shares during the period. Retirement Systems of Alabama increased its stake in Cimarex Energy by 18.7% in the 4th quarter. Retirement Systems of Alabama now owns 185,664 shares of the oil and gas producer’s stock valued at $22,653,000 after buying an additional 29,239 shares during the period. Sei Investments Co. increased its stake in Cimarex Energy by 0.7% in the 4th quarter. Sei Investments Co. now owns 118,427 shares of the oil and gas producer’s stock valued at $14,450,000 after buying an additional 878 shares during the period. Finally, Mckinley Capital Management LLC Delaware increased its stake in Cimarex Energy by 123.4% in the 4th quarter. Mckinley Capital Management LLC Delaware now owns 162,651 shares of the oil and gas producer’s stock valued at $19,845,000 after buying an additional 89,831 shares during the period. 91.68% of the stock is currently owned by institutional investors.
In other Cimarex Energy news, Director Lisa A. Stewart acquired 248 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were acquired at an average cost of $112.06 per share, for a total transaction of $27,790.88. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Thomas E. Jorden sold 5,000 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $113.14, for a total transaction of $565,700.00. The disclosure for this sale can be found here. Insiders sold a total of 15,729 shares of company stock worth $1,800,003 over the last quarter. Insiders own 1.70% of the company’s stock.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings data on Wednesday, February 14th. The oil and gas producer reported $1.47 EPS for the quarter, topping the consensus estimate of $1.40 by $0.07. Cimarex Energy had a net margin of 25.77% and a return on equity of 18.73%. The business had revenue of $550.90 million for the quarter, compared to analyst estimates of $537.74 million. During the same period in the previous year, the firm earned $0.60 EPS. The business’s revenue for the quarter was up 44.1% compared to the same quarter last year. analysts anticipate that Cimarex Energy Co will post 7.36 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Thursday, March 15th will be given a $0.16 dividend. The ex-dividend date of this dividend is Monday, May 14th. This is a positive change from Cimarex Energy’s previous quarterly dividend of $0.08. This represents a $0.64 annualized dividend and a dividend yield of 0.65%. Cimarex Energy’s payout ratio is currently 6.17%.
XEC has been the topic of several recent research reports. Seaport Global Securities raised shares of Cimarex Energy from a “sell” rating to a “buy” rating in a research note on Tuesday, December 19th. KeyCorp reissued a “buy” rating on shares of Cimarex Energy in a research note on Wednesday, November 8th. Scotiabank set a $143.00 price objective on shares of Cimarex Energy and gave the company a “buy” rating in a research note on Saturday, November 25th. Cowen set a $165.00 price objective on shares of Cimarex Energy and gave the company a “buy” rating in a research note on Thursday, January 18th. Finally, Credit Suisse Group set a $152.00 target price on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $139.71.
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.
Want to see what other hedge funds are holding XEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cimarex Energy Co (NYSE:XEC).
Receive News & Ratings for Cimarex Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cimarex Energy and related companies with MarketBeat.com's FREE daily email newsletter.