Cimarex Energy Co (NYSE:XEC) Position Decreased by Texas Permanent School Fund
Texas Permanent School Fund reduced its position in shares of Cimarex Energy Co (NYSE:XEC) by 3.8% during the second quarter, Holdings Channel reports. The institutional investor owned 26,724 shares of the oil and gas producer’s stock after selling 1,069 shares during the period. Texas Permanent School Fund’s holdings in Cimarex Energy were worth $2,512,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in XEC. Global X Management Co. LLC raised its position in Cimarex Energy by 14.1% in the first quarter. Global X Management Co. LLC now owns 1,103 shares of the oil and gas producer’s stock worth $132,000 after buying an additional 136 shares in the last quarter. State of Alaska Department of Revenue raised its position in Cimarex Energy by 0.7% in the second quarter. State of Alaska Department of Revenue now owns 1,427 shares of the oil and gas producer’s stock worth $134,000 after buying an additional 10 shares in the last quarter. Winch Advisory Services LLC purchased a new position in Cimarex Energy during the first quarter worth approximately $186,000. Eagle Ridge Investment Management raised its position in Cimarex Energy by 3.0% in the first quarter. Eagle Ridge Investment Management now owns 1,720 shares of the oil and gas producer’s stock worth $206,000 after buying an additional 50 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in Cimarex Energy by 11.8% in the first quarter. Parallel Advisors LLC now owns 1,785 shares of the oil and gas producer’s stock worth $211,000 after buying an additional 188 shares in the last quarter. 93.07% of the stock is currently owned by institutional investors.
Cimarex Energy Co (NYSE:XEC) opened at 93.86 on Wednesday. The company’s market capitalization is $8.77 billion. The company has a 50 day moving average price of $94.55 and a 200-day moving average price of $114.34. Cimarex Energy Co has a 12-month low of $89.49 and a 12-month high of $146.96.
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 for the quarter, beating the consensus estimate of $0.95 by $0.11. The business had revenue of $456.50 million for the quarter, compared to analyst estimates of $441.52 million. Cimarex Energy had a positive return on equity of 9.03% and a negative net margin of 7.78%. Cimarex Energy’s revenue was up 52.7% compared to the same quarter last year. During the same period last year, the firm posted $0.07 earnings per share. On average, analysts anticipate that Cimarex Energy Co will post $4.11 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date is Friday, August 11th. Cimarex Energy’s payout ratio is -25.20%.
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XEC has been the topic of a number of recent analyst reports. BMO Capital Markets set a $150.00 price target on shares of Cimarex Energy and gave the company a “buy” rating in a research report on Monday, May 15th. Williams Capital raised shares of Cimarex Energy from a “hold” rating to a “buy” rating and boosted their target price for the stock from $148.00 to $160.00 in a research report on Monday, May 15th. They noted that the move was a valuation call. KLR Group reaffirmed a “buy” rating and set a $151.00 target price (up previously from $149.00) on shares of Cimarex Energy in a research report on Wednesday, May 17th. Citigroup Inc. reaffirmed a “buy” rating and set a $166.00 target price (up previously from $164.00) on shares of Cimarex Energy in a research report on Saturday, April 22nd. Finally, FBR & Co set a $141.00 target price on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Thursday, May 18th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $138.19.
In other news, Director L Paul Teague sold 1,038 shares of Cimarex Energy stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $120.00, for a total transaction of $124,560.00. Following the sale, the director now directly owns 44,394 shares of the company’s stock, valued at $5,327,280. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Stephen P. Bell sold 5,000 shares of Cimarex Energy stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $117.24, for a total value of $586,200.00. The disclosure for this sale can be found here. Insiders have sold 8,538 shares of company stock worth $1,001,760 over the last three months. Insiders own 1.70% of the company’s stock.
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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