EnTrustPermal Partners Offshore LP purchased a new stake in shares of Cimarex Energy Co (NYSE:XEC) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 16,000 shares of the oil and gas producer’s stock, valued at approximately $1,952,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Comerica Bank grew its holdings in Cimarex Energy by 1.5% during the 3rd quarter. Comerica Bank now owns 28,950 shares of the oil and gas producer’s stock valued at $3,391,000 after purchasing an additional 437 shares in the last quarter. Norinchukin Bank The grew its holdings in Cimarex Energy by 7.5% during the 3rd quarter. Norinchukin Bank The now owns 7,093 shares of the oil and gas producer’s stock valued at $806,000 after purchasing an additional 492 shares in the last quarter. Public Employees Retirement Association of Colorado grew its holdings in Cimarex Energy by 0.4% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 147,407 shares of the oil and gas producer’s stock valued at $17,985,000 after purchasing an additional 598 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Cimarex Energy by 2.2% during the 4th quarter. CIBC Asset Management Inc now owns 27,940 shares of the oil and gas producer’s stock valued at $3,409,000 after purchasing an additional 604 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Cimarex Energy by 3.7% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,381 shares of the oil and gas producer’s stock valued at $2,203,000 after purchasing an additional 683 shares in the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.
In other news, VP Krista L. Johnson sold 2,229 shares of Cimarex Energy stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $112.50, for a total value of $250,762.50. Following the completion of the transaction, the vice president now directly owns 62,238 shares of the company’s stock, valued at approximately $7,001,775. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Harold R. Logan, Jr. sold 1,900 shares of Cimarex Energy stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $97.82, for a total transaction of $185,858.00. The disclosure for this sale can be found here. Insiders sold a total of 17,629 shares of company stock valued at $1,985,861 over the last ninety days. Company insiders own 1.70% of the company’s stock.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings results on Wednesday, February 14th. The oil and gas producer reported $1.47 EPS for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $537.74 million. During the same period in the previous year, the business posted $0.60 EPS. The company’s quarterly revenue was up 44.1% on a year-over-year basis. sell-side analysts predict that Cimarex Energy Co will post 7.32 earnings per share 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 $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 0.69%. Cimarex Energy’s payout ratio is 7.05%.
A number of research firms recently weighed in on XEC. Credit Suisse Group reaffirmed a “buy” rating and set a $129.00 price target (down from $147.00) on shares of Cimarex Energy in a report on Monday, March 5th. Seaport Global Securities raised shares of Cimarex Energy from a “sell” rating to a “buy” rating in a report on Tuesday, December 19th. Deutsche Bank began coverage on shares of Cimarex Energy in a report on Thursday, February 1st. They set a “buy” rating and a $164.00 price target for the company. SunTrust Banks raised shares of Cimarex Energy from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a report on Tuesday, February 6th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $138.00 price target on shares of Cimarex Energy in a report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $138.10.
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About Cimarex Energy
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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