Federated Investors Inc. PA cut its holdings in Cimarex Energy Co (NYSE:XEC) by 33.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 85,309 shares of the oil and gas producer’s stock after selling 42,699 shares during the period. Federated Investors Inc. PA’s holdings in Cimarex Energy were worth $8,679,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of XEC. Wells Fargo & Company MN boosted its holdings in shares of Cimarex Energy by 29.4% in the 1st quarter. Wells Fargo & Company MN now owns 1,948,829 shares of the oil and gas producer’s stock valued at $182,217,000 after buying an additional 442,696 shares during the period. Dupont Capital Management Corp acquired a new position in Cimarex Energy during the 1st quarter valued at about $158,000. Sentry Investment Management LLC boosted its stake in Cimarex Energy by 62.8% during the 1st quarter. Sentry Investment Management LLC now owns 6,697 shares of the oil and gas producer’s stock valued at $626,000 after purchasing an additional 2,584 shares during the period. Alps Advisors Inc. boosted its stake in Cimarex Energy by 11.8% during the 1st quarter. Alps Advisors Inc. now owns 5,194 shares of the oil and gas producer’s stock valued at $486,000 after purchasing an additional 550 shares during the period. Finally, Mackay Shields LLC acquired a new position in Cimarex Energy during the 1st quarter valued at about $1,499,000. 99.73% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on the stock. Williams Capital reissued a “buy” rating and set a $134.00 target price on shares of Cimarex Energy in a research note on Wednesday, August 8th. Credit Suisse Group lowered shares of Cimarex Energy from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 9th. Piper Jaffray Companies reissued a “hold” rating and set a $147.00 target price on shares of Cimarex Energy in a research note on Friday, July 20th. Imperial Capital reduced their target price on shares of Cimarex Energy from $156.00 to $128.00 and set an “outperform” rating for the company in a research note on Thursday, August 9th. Finally, Bank of America raised shares of Cimarex Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, June 21st. One 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’s stock. The company has an average rating of “Buy” and a consensus target price of $132.33.
In other news, COO Joseph R. Albi sold 1,750 shares of the company’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 value of $175,175.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director L Paul Teague sold 1,040 shares of the company’s stock in a transaction that occurred on Wednesday, June 27th. The stock was sold at an average price of $100.10, for a total transaction of $104,104.00. Following the completion of the sale, the director now directly owns 40,106 shares of the company’s stock, valued at $4,014,610.60. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
Shares of NYSE:XEC opened at $85.47 on Friday. The company has a market capitalization of $8.06 billion, a PE ratio of 18.38 and a beta of 1.04. Cimarex Energy Co has a twelve month low of $80.53 and a twelve month high of $130.16. The company has a quick ratio of 1.27, a current ratio of 1.34 and a debt-to-equity ratio of 0.52.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings results on Tuesday, August 7th. The oil and gas producer reported $1.59 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.05). The company had revenue of $556.27 million during 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%. equities analysts forecast that Cimarex Energy Co will post 6.93 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Thursday, November 15th will be paid a $0.18 dividend. This is a positive change from Cimarex Energy’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Wednesday, November 14th. Cimarex Energy’s dividend payout ratio is currently 13.76%.
About Cimarex Energy
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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