Cimarex Energy Co. (XEC) Shares Bought by Sippican Capital Advisors
Sippican Capital Advisors boosted its position in shares of Cimarex Energy Co. (NYSE:XEC) by 3.4% during the second quarter, Holdings Channel reports. The institutional investor owned 6,669 shares of the company’s stock after buying an additional 222 shares during the period. Sippican Capital Advisors’ holdings in Cimarex Energy were worth $796,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. IFP Advisors Inc raised its stake in Cimarex Energy by 119.0% in the first quarter. IFP Advisors Inc now owns 1,292 shares of the company’s stock worth $126,000 after buying an additional 702 shares in the last quarter. AXA raised its stake in Cimarex Energy by 22.3% in the first quarter. AXA now owns 1,681 shares of the company’s stock worth $164,000 after buying an additional 307 shares in the last quarter. OLD National Bancorp IN purchased a new stake in Cimarex Energy during the first quarter worth about $278,000. Commonwealth Equity Services Inc raised its stake in Cimarex Energy by 8.1% in the first quarter. Commonwealth Equity Services Inc now owns 2,880 shares of the company’s stock worth $280,000 after buying an additional 215 shares in the last quarter. Finally, Creative Planning raised its stake in Cimarex Energy by 21.7% in the second quarter. Creative Planning now owns 2,593 shares of the company’s stock worth $309,000 after buying an additional 463 shares in the last quarter. Institutional investors own 92.38% of the company’s stock.
Cimarex Energy Co. (NYSE:XEC) traded down 0.54% during mid-day trading on Thursday, reaching $127.98. The company’s stock had a trading volume of 602,695 shares. The company’s market cap is $12.16 billion. Cimarex Energy Co. has a 12 month low of $72.77 and a 12 month high of $136.95. The stock’s 50 day moving average is $130.39 and its 200 day moving average is $115.38.
Cimarex Energy (NYSE:XEC) last announced its earnings results on Wednesday, August 3rd. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.11) by $0.18. The company had revenue of $298.90 million for the quarter, compared to analysts’ expectations of $279.22 million. Cimarex Energy had a negative return on equity of 2.41% and a negative net margin of 153.32%. The business’s revenue for the quarter was down 29.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.15 earnings per share. Equities research analysts predict that Cimarex Energy Co. will post $0.60 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.25%. The ex-dividend date is Thursday, November 10th. Cimarex Energy’s payout ratio is presently -1.61%.
A number of research firms have recently weighed in on XEC. Canaccord Genuity reissued a “hold” rating and set a $89.00 price target on shares of Cimarex Energy in a research report on Wednesday, July 6th. Citigroup Inc. raised their price target on shares of Cimarex Energy from $149.00 to $157.00 and gave the stock a “buy” rating in a research report on Monday, September 12th. Wunderlich raised their price target on shares of Cimarex Energy from $122.00 to $139.00 and gave the stock a “buy” rating in a research report on Thursday, June 30th. Zacks Investment Research downgraded shares of Cimarex Energy from a “buy” rating to a “hold” rating in a research report on Monday, July 11th. Finally, Barclays PLC raised their price target on shares of Cimarex Energy from $116.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, July 14th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $119.68.
In other news, CEO Thomas E. Jorden sold 2,500 shares of the stock in a transaction on Friday, July 1st. The stock was sold at an average price of $119.87, for a total transaction of $299,675.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP John Lambuth sold 2,720 shares of the stock in a transaction on Friday, August 5th. The stock was sold at an average price of $125.50, for a total value of $341,360.00. Following the sale, the senior vice president now owns 113,652 shares in the company, valued at approximately $14,263,326. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
About Cimarex Energy
Cimarex Energy Co is an independent oil and gas exploration and production company. The Company’s segment is exploration and production. Its operations are located mainly in Oklahoma, Texas and New Mexico. Its operations are focused in approximately two main areas, such as the Permian Basin and the Mid-Continent region.
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