ING Groep NV Has $394,000 Position in Cimarex Energy Co. (XEC)
ING Groep NV cut its position in shares of Cimarex Energy Co. (NYSE:XEC) by 69.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,306 shares of the company’s stock after selling 7,398 shares during the period. ING Groep NV’s holdings in Cimarex Energy were worth $394,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in XEC. Commonwealth Equity Services Inc increased its stake in shares of 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. IFP Advisors Inc increased 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 worth $126,000 after buying an additional 702 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of Cimarex Energy by 0.9% in the first quarter. Prudential Financial Inc. now owns 117,674 shares of the company’s stock worth $11,446,000 after buying an additional 1,000 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Cimarex Energy by 62.3% in the first quarter. Franklin Resources Inc. now owns 142,302 shares of the company’s stock worth $13,841,000 after buying an additional 54,616 shares in the last quarter. Finally, BlackRock Group LTD increased its stake in shares of Cimarex Energy by 2.2% in the first quarter. BlackRock Group LTD now owns 1,271,270 shares of the company’s stock worth $123,657,000 after buying an additional 27,232 shares in the last quarter. Institutional investors own 92.39% of the company’s stock.
Shares of Cimarex Energy Co. (NYSE:XEC) traded down 1.42% during midday trading on Tuesday, reaching $139.16. 708,557 shares of the company were exchanged. The stock’s 50-day moving average price is $131.72 and its 200-day moving average price is $118.94. Cimarex Energy Co. has a 52-week low of $72.77 and a 52-week high of $142.07. The company’s market capitalization is $13.22 billion.
Cimarex Energy (NYSE:XEC) last issued its quarterly 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. Cimarex Energy had a negative net margin of 153.32% and a negative return on equity of 2.41%. The firm earned $298.90 million during the quarter, compared to analyst estimates of $279.22 million. During the same quarter in the prior year, the business posted $0.15 earnings per share. Cimarex Energy’s revenue for the quarter was down 29.6% compared to the same quarter last year. Analysts anticipate that Cimarex Energy Co. will post $0.62 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.23%. The ex-dividend date is Thursday, November 10th. Cimarex Energy’s payout ratio is currently -1.61%.
A number of analysts have recently issued reports on the stock. 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 report on Thursday, June 30th. Zacks Investment Research downgraded shares of Cimarex Energy from a “buy” rating to a “hold” rating in a report on Wednesday, August 17th. Jefferies Group restated a “sell” rating on shares of Cimarex Energy in a report on Thursday, August 11th. Citigroup Inc. lifted their target price on shares of Cimarex Energy from $127.00 to $149.00 and gave the company a “buy” rating in a report on Thursday, August 11th. Finally, Barclays PLC lifted their target price on shares of Cimarex Energy from $117.00 to $138.00 and gave the company an “overweight” rating in a report on Monday, August 8th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $119.68.
In other news, VP Gary R. Abbott sold 7,500 shares of the stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $132.00, for a total value of $990,000.00. Following the completion of the sale, the vice president now owns 104,072 shares of the company’s stock, valued at $13,737,504. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Francis Brian Barron sold 500 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $131.15, for a total transaction of $65,575.00. Following the completion of the sale, the senior vice president now directly owns 67,539 shares of the company’s stock, valued at approximately $8,857,739.85. The disclosure for this sale can be found here. 2.00% of the stock is currently 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.
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