Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its holdings in shares of Cimarex Energy Co (NYSE:XEC) by 3.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,698 shares of the oil and gas producer’s stock after selling 711 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Cimarex Energy were worth $1,758,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Cimarex Energy by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 9,834,889 shares of the oil and gas producer’s stock valued at $1,175,170,000 after acquiring an additional 269,198 shares during the period. BlackRock Inc. increased its position in shares of Cimarex Energy by 3,127.3% in the 1st quarter. BlackRock Inc. now owns 7,141,421 shares of the oil and gas producer’s stock valued at $853,329,000 after acquiring an additional 6,920,140 shares during the period. State Street Corp increased its position in shares of Cimarex Energy by 5.8% in the 1st quarter. State Street Corp now owns 5,301,133 shares of the oil and gas producer’s stock valued at $633,445,000 after acquiring an additional 290,405 shares during the period. Diamond Hill Capital Management Inc. increased its position in shares of Cimarex Energy by 8.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 4,063,310 shares of the oil and gas producer’s stock valued at $381,992,000 after acquiring an additional 307,581 shares during the period. Finally, Artisan Partners Limited Partnership increased its position in shares of Cimarex Energy by 3.4% in the 1st quarter. Artisan Partners Limited Partnership now owns 1,559,704 shares of the oil and gas producer’s stock valued at $186,369,000 after acquiring an additional 51,470 shares during the period. 90.25% of the stock is currently owned by institutional investors and hedge funds.
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Cimarex Energy Co (XEC) opened at 110.85 on Friday. The firm has a 50-day moving average of $99.58 and a 200 day moving average of $106.74. Cimarex Energy Co has a 12 month low of $89.49 and a 12 month high of $146.96. The stock has a market cap of $10.35 billion, a PE ratio of 39.70 and a beta of 1.32.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.11. Cimarex Energy had a net margin of 15.64% and a return on equity of 13.29%. The company had revenue of $456.50 million during the quarter, compared to analyst estimates of $441.52 million. During the same quarter in the prior year, the business earned $0.07 earnings per share. The business’s quarterly revenue was up 52.7% compared to the same quarter last year. Analysts anticipate that Cimarex Energy Co will post $4.17 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Tuesday, November 14th. Cimarex Energy’s payout ratio is currently 12.03%.
In other news, VP Joseph R. Albi sold 4,000 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $106.13, for a total value of $424,520.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Harold R. Logan, Jr. sold 913 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $105.83, for a total transaction of $96,622.79. Following the completion of the sale, the director now directly owns 9,299 shares of the company’s stock, valued at approximately $984,113.17. The disclosure for this sale can be found here. Insiders sold 21,299 shares of company stock valued at $2,204,271 in the last three months. Company insiders own 1.70% of the company’s stock.
XEC has been the topic of several recent research reports. Credit Suisse Group initiated coverage on shares of Cimarex Energy in a report on Thursday, June 1st. They issued an “outperform” rating and a $138.00 price target on the stock. Cowen and Company set a $135.00 target price on shares of Cimarex Energy and gave the stock a “buy” rating in a research note on Friday, August 25th. Imperial Capital began coverage on shares of Cimarex Energy in a research note on Tuesday. They set an “outperform” rating and a $135.00 target price on the stock. Stifel Nicolaus reissued a “buy” rating on shares of Cimarex Energy in a research note on Wednesday, June 28th. Finally, Citigroup Inc. lowered their target price on shares of Cimarex Energy from $150.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, July 13th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $134.19.
About Cimarex Energy
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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