Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its stake in Cimarex Energy Co (NYSE:XEC) by 16.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 60,900 shares of the oil and gas producer’s stock after buying an additional 8,800 shares during the quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in Cimarex Energy were worth $7,430,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. IFM Investors Pty Ltd purchased a new position in shares of Cimarex Energy in the third quarter worth $330,000. Cerebellum GP LLC purchased a new position in shares of Cimarex Energy in the fourth quarter worth $1,733,000. Colony Group LLC raised its stake in Cimarex Energy by 38.7% during the third quarter. Colony Group LLC now owns 22,154 shares of the oil and gas producer’s stock valued at $2,518,000 after purchasing an additional 6,177 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Cimarex Energy by 8.2% during the third quarter. Schwab Charles Investment Management Inc. now owns 402,146 shares of the oil and gas producer’s stock valued at $45,712,000 after purchasing an additional 30,646 shares in the last quarter. Finally, Carillon Tower Advisers Inc. purchased a new stake in Cimarex Energy during the fourth quarter valued at $3,855,000. 92.33% of the stock is currently owned by hedge funds and other institutional investors.
XEC stock opened at $93.21 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.30 and a current ratio of 1.38. Cimarex Energy Co has a 1 year low of $89.49 and a 1 year high of $130.16. The firm has a market cap of $9,035.13, a price-to-earnings ratio of 17.96 and a beta of 1.25.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Thursday, March 15th will be given a dividend of $0.16 per share. This is a boost from Cimarex Energy’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Monday, May 14th. This represents a $0.64 dividend on an annualized basis and a yield of 0.69%. Cimarex Energy’s payout ratio is 6.17%.
XEC has been the topic of a number of recent research reports. Piper Jaffray Companies reaffirmed a “hold” rating and set a $138.00 price target on shares of Cimarex Energy in a research note on Tuesday, January 9th. Credit Suisse Group initiated coverage on shares of Cimarex Energy in a research note on Monday, December 11th. They set an “outperform” rating and a $140.00 price target on the stock. Stifel Nicolaus decreased their price target on shares of Cimarex Energy from $188.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. Morgan Stanley decreased their price target on shares of Cimarex Energy from $168.00 to $165.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 7th. Finally, Williams Capital set a $154.00 price target on shares of Cimarex Energy and gave the company a “buy” rating in a research note on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $136.32.
In other news, CEO Thomas E. Jorden sold 2,500 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $122.88, for a total value of $307,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Harold R. Logan, Jr. sold 1,900 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was 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 own 1.70% of the company’s stock.
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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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