State Farm Mutual Automobile Insurance Co. maintained its stake in shares of Cimarex Energy Co (NYSE:XEC) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,538,405 shares of the oil and gas producer’s stock at the end of the second quarter. State Farm Mutual Automobile Insurance Co. owned about 2.72% of Cimarex Energy worth $238,635,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. State of Alaska Department of Revenue lifted its stake in Cimarex Energy by 0.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 1,427 shares of the oil and gas producer’s stock valued at $134,000 after buying an additional 10 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Cimarex Energy by 0.4% in the 2nd quarter. Fisher Asset Management LLC now owns 3,013 shares of the oil and gas producer’s stock valued at $283,000 after buying an additional 13 shares in the last quarter. ING Groep NV lifted its stake in Cimarex Energy by 0.3% in the 2nd quarter. ING Groep NV now owns 4,878 shares of the oil and gas producer’s stock valued at $459,000 after buying an additional 17 shares in the last quarter. Cleararc Capital Inc. lifted its stake in Cimarex Energy by 1.3% in the 1st quarter. Cleararc Capital Inc. now owns 2,347 shares of the oil and gas producer’s stock valued at $280,000 after buying an additional 30 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in Cimarex Energy by 2.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 2,550 shares of the oil and gas producer’s stock valued at $305,000 after acquiring an additional 50 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors.
Shares of Cimarex Energy Co (NYSE XEC) opened at 110.85 on Friday. Cimarex Energy Co has a one year low of $89.49 and a one year high of $146.96. The company has a market capitalization of $10.35 billion, a PE ratio of 39.70 and a beta of 1.32. The company’s 50-day moving average is $99.58 and its 200-day moving average is $106.74.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.11. The firm had revenue of $456.50 million for the quarter, compared to the consensus estimate of $441.52 million. Cimarex Energy had a net margin of 15.64% and a return on equity of 13.29%. The business’s revenue for the quarter was up 52.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.07 earnings per share. Equities analysts predict that Cimarex Energy Co will post $4.17 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be paid a $0.08 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.29%. Cimarex Energy’s payout ratio is currently 12.03%.
In related news, CEO Thomas E. Jorden sold 2,500 shares of Cimarex Energy stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $101.67, for a total transaction of $254,175.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Joseph R. Albi sold 4,000 shares of Cimarex Energy stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $106.13, for a total transaction of $424,520.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,299 shares of company stock worth $2,204,271. 1.70% of the stock is currently owned by corporate insiders.
XEC has been the subject of several analyst reports. Williams Capital reiterated a “buy” rating and issued a $136.00 price target on shares of Cimarex Energy in a report on Wednesday, August 9th. Scotiabank set a $143.00 price target on Cimarex Energy and gave the company a “buy” rating in a report on Saturday, July 1st. Stifel Nicolaus restated a “buy” rating on shares of Cimarex Energy in a report on Wednesday, June 28th. Citigroup Inc. dropped their price objective on Cimarex Energy from $135.00 to $120.00 and set a “buy” rating for the company in a report on Friday, July 21st. Finally, Cowen and Company set a $135.00 price objective on Cimarex Energy and gave the stock a “buy” rating in a report on Friday, August 25th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $134.19.
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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