Fmr LLC reduced its position in Cimarex Energy Co (NYSE:XEC) by 16.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,289,743 shares of the oil and gas producer’s stock after selling 660,311 shares during the period. Fmr LLC owned approximately 3.45% of Cimarex Energy worth $334,698,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of XEC. Summit Trail Advisors LLC boosted its position in Cimarex Energy by 5,454.0% in the 1st quarter. Summit Trail Advisors LLC now owns 120,466 shares of the oil and gas producer’s stock valued at $120,000 after buying an additional 118,297 shares during the last quarter. Dupont Capital Management Corp bought a new position in shares of Cimarex Energy during the first quarter worth about $158,000. Rampart Investment Management Company LLC lifted its position in shares of Cimarex Energy by 77.3% during the first quarter. Rampart Investment Management Company LLC now owns 2,073 shares of the oil and gas producer’s stock worth $194,000 after purchasing an additional 904 shares during the last quarter. Eagle Boston Investment Management Inc. bought a new position in shares of Cimarex Energy during the second quarter worth about $204,000. Finally, Delta Capital Management LLC bought a new position in shares of Cimarex Energy during the second quarter worth about $207,000. 94.95% of the stock is owned by institutional investors.
In other news, Director Lisa A. Stewart purchased 320 shares of the company’s stock in a transaction on Thursday, August 30th. The shares were bought at an average price of $84.05 per share, for a total transaction of $26,896.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Joseph R. Albi sold 1,750 shares of the firm’s stock in a transaction that occurred on Wednesday, June 27th. The shares were sold at an average price of $100.10, for a total transaction of $175,175.00. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.
Several equities analysts have recently commented on the stock. Morgan Stanley reduced their price target on shares of Cimarex Energy from $138.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, May 24th. Credit Suisse Group cut shares of Cimarex Energy from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 9th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $147.00 price target on shares of Cimarex Energy in a research report on Friday, July 20th. Imperial Capital reduced their price target on shares of Cimarex Energy from $156.00 to $128.00 and set an “outperform” rating on the stock in a research report on Thursday, August 9th. Finally, Bank of America raised shares of Cimarex Energy from a “neutral” rating to a “buy” rating in a research report on Thursday, June 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $132.33.
XEC opened at $86.13 on Thursday. The stock has a market cap of $8.06 billion, a P/E ratio of 18.52 and a beta of 1.05. Cimarex Energy Co has a fifty-two week low of $80.53 and a fifty-two week high of $130.16. The company has a current ratio of 1.34, a quick ratio of 1.27 and a debt-to-equity ratio of 0.52.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings data on Tuesday, August 7th. The oil and gas producer reported $1.59 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.05). The business had revenue of $556.27 million for the quarter, compared to analyst estimates of $557.26 million. Cimarex Energy had a return on equity of 21.47% and a net margin of 27.75%. sell-side analysts predict that Cimarex Energy Co will post 6.91 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be paid a dividend of $0.18 per share. This is a positive change from Cimarex Energy’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.72 annualized dividend and a yield of 0.84%. Cimarex Energy’s dividend payout ratio is 13.76%.
Cimarex Energy Company Profile
Cimarex Energy Co operates as an independent oil and gas exploration and production company primarily in Oklahoma, Texas, and New Mexico. As of December 31, 2017, it had a total proved oil and gas reserves of 3.35 trillion cubic feet equivalent (Tcfe) consisting of 1.61 trillion cubic feet of natural gas, 0.82 Tcfe of oil, and 0.92 Tcfe of natural gas liquids primarily located in the Mid-Continent and Permian Basin regions.
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