Shilanski & Associates Inc. Takes $765,000 Position in Cimarex Energy Co. (NYSE:XEC)


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Shilanski & Associates Inc. acquired a new position in Cimarex Energy Co. (NYSE:XEC) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 12,873 shares of the oil and gas producer’s stock, valued at approximately $765,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Donoghue Forlines LLC acquired a new stake in Cimarex Energy during the 4th quarter valued at $1,648,000. Retirement Systems of Alabama increased its position in shares of Cimarex Energy by 148.4% in the fourth quarter. Retirement Systems of Alabama now owns 330,906 shares of the oil and gas producer’s stock valued at $12,412,000 after acquiring an additional 197,678 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Cimarex Energy by 4.9% in the fourth quarter. Victory Capital Management Inc. now owns 4,423,230 shares of the oil and gas producer’s stock valued at $165,916,000 after acquiring an additional 207,772 shares during the last quarter. Schroder Investment Management Group increased its position in Cimarex Energy by 16.6% during the fourth quarter. Schroder Investment Management Group now owns 839,086 shares of the oil and gas producer’s stock worth $31,474,000 after buying an additional 119,344 shares during the last quarter. Finally, Sowell Financial Services LLC increased its position in Cimarex Energy by 101.0% during the fourth quarter. Sowell Financial Services LLC now owns 6,328 shares of the oil and gas producer’s stock worth $237,000 after buying an additional 3,179 shares during the last quarter. 91.50% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently issued reports on XEC shares. Morgan Stanley boosted their price target on Cimarex Energy from $54.00 to $76.00 and gave the company an “overweight” rating in a research note on Wednesday, March 17th. Susquehanna upped their target price on Cimarex Energy from $60.00 to $70.00 and gave the stock a “positive” rating in a research note on Wednesday, February 24th. Truist upped their target price on Cimarex Energy from $40.00 to $60.00 in a research note on Wednesday, February 24th. Barclays increased their price objective on Cimarex Energy from $48.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, January 14th. Finally, Bank of America reissued a “neutral” rating on shares of Cimarex Energy in a research report on Monday, March 22nd. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Cimarex Energy has an average rating of “Buy” and an average target price of $54.89.

XEC stock opened at $62.57 on Friday. The company’s 50 day moving average price is $62.34 and its 200 day moving average price is $43.72. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.74 and a current ratio of 0.84. Cimarex Energy Co. has a fifty-two week low of $18.27 and a fifty-two week high of $69.35. The firm has a market capitalization of $6.43 billion, a price-to-earnings ratio of -3.05, a PEG ratio of 8.75 and a beta of 2.40.

Cimarex Energy (NYSE:XEC) last announced its earnings results on Sunday, February 21st. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.18. The business had revenue of $434.70 million for the quarter, compared to analyst estimates of $421.94 million. Cimarex Energy had a negative net margin of 104.14% and a positive return on equity of 7.29%. The company’s revenue for the quarter was down 33.9% compared to the same quarter last year. During the same period last year, the firm posted $1.18 earnings per share. Equities analysts forecast that Cimarex Energy Co. will post 0.58 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 1st. Shareholders of record on Friday, May 14th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Thursday, May 13th. This represents a $1.08 dividend on an annualized basis and a yield of 1.73%. This is an increase from Cimarex Energy’s previous quarterly dividend of $0.22. Cimarex Energy’s dividend payout ratio (DPR) is 19.73%.

In other Cimarex Energy news, CFO G Mark Burford sold 5,000 shares of the firm’s stock in a transaction on Monday, March 8th. The stock was sold at an average price of $67.13, for a total value of $335,650.00. Following the completion of the sale, the chief financial officer now owns 174,528 shares of the company’s stock, valued at $11,716,064.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Stephen P. Bell sold 6,451 shares of the firm’s stock in a transaction on Friday, March 5th. The shares were sold at an average price of $66.09, for a total value of $426,346.59. In the last three months, insiders sold 26,451 shares of company stock valued at $1,683,447. 2.00% of the stock is owned by corporate insiders.

Cimarex Energy Company Profile

Cimarex Energy Co operates as an independent oil and gas exploration and production company primarily in Texas, Oklahoma, and New Mexico. As of December 31, 2020, it had a total proved reserves of 531.0 million barrels of oil equivalent; 1.36 trillion cubic feet of proved gas reserves; 144.1 million barrels (MMBbls) of proved oil reserves; and 159.8 MMBbls of natural gas liquids reserves primarily located in the Permian Basin and Mid-Continent regions.

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Institutional Ownership by Quarter for Cimarex Energy (NYSE:XEC)

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