Brown Advisory Inc. Purchases New Position in Cimarex Energy Co. (XEC)
Brown Advisory Inc. purchased a new stake in shares of Cimarex Energy Co. (NYSE:XEC) during the second quarter, Holdings Channel reports. The fund purchased 2,030 shares of the company’s stock, valued at approximately $242,000.
A number of other large investors have also recently made changes to their positions in XEC. IFP Advisors Inc boosted its stake in shares of Cimarex Energy by 119.0% in the first quarter. IFP Advisors Inc now owns 1,292 shares of the company’s stock valued at $126,000 after buying an additional 702 shares during the last quarter. Societe Generale purchased a new stake in shares of Cimarex Energy during the second quarter valued at $128,000. AXA boosted its stake in shares of Cimarex Energy by 22.3% in the first quarter. AXA now owns 1,681 shares of the company’s stock valued at $164,000 after buying an additional 307 shares during the last quarter. Suffolk Capital Management LLC purchased a new stake in shares of Cimarex Energy during the second quarter valued at $211,000. Finally, BB&T Corp purchased a new stake in shares of Cimarex Energy during the second quarter valued at $212,000. 92.39% of the stock is owned by institutional investors and hedge funds.
Shares of Cimarex Energy Co. (NYSE:XEC) traded down 0.40% during midday trading on Friday, reaching $138.93. The company’s stock had a trading volume of 57,891 shares. Cimarex Energy Co. has a 1-year low of $72.77 and a 1-year high of $140.21. The company’s 50-day moving average price is $131.21 and its 200 day moving average price is $117.99. The firm’s market capitalization is $13.20 billion.
Cimarex Energy (NYSE:XEC) last posted its earnings results on Wednesday, August 3rd. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.18. Cimarex Energy had a negative return on equity of 2.41% and a negative net margin of 153.32%. The business earned $298.90 million during the quarter, compared to analyst estimates of $279.22 million. During the same quarter last year, the firm earned $0.15 earnings per share. The company’s revenue for the quarter was down 29.6% compared to the same quarter last year. On average, equities research analysts forecast that Cimarex Energy Co. will post $0.62 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be paid a $0.08 dividend. The ex-dividend date is Thursday, November 10th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.23%. Cimarex Energy’s dividend payout ratio (DPR) is currently -1.61%.
Several equities research analysts have weighed in on the stock. 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 target price 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 target price 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 cut 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 target price 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 investment analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $119.68.
In other Cimarex Energy news, SVP Francis Brian Barron sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $135.54, for a total transaction of $67,770.00. Following the completion of the sale, the senior vice president now owns 67,039 shares in the company, valued at approximately $9,086,466.06. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Thomas E. Jorden sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $131.19, for a total value of $327,975.00. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.
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.
Want to see what other hedge funds are holding XEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cimarex Energy Co. (NYSE:XEC).
Receive News & Ratings for Cimarex Energy Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cimarex Energy Co. and related companies with MarketBeat.com's FREE daily email newsletter.