Cimarex Energy Co (XEC) Shares Sold by Dai Ichi Life Insurance Company Ltd
Dai Ichi Life Insurance Company Ltd lowered its holdings in Cimarex Energy Co (NYSE:XEC) by 63.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,607 shares of the oil and gas producer’s stock after selling 18,045 shares during the quarter. Dai Ichi Life Insurance Company Ltd’s holdings in Cimarex Energy were worth $997,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in 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 buying an additional 6,920,140 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in Cimarex Energy by 2.7% in the 1st quarter. Public Employees Retirement System of Ohio now owns 51,868 shares of the oil and gas producer’s stock valued at $6,198,000 after buying an additional 1,350 shares during the last quarter. Xact Kapitalforvaltning AB grew its holdings in Cimarex Energy by 17.0% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 8,339 shares of the oil and gas producer’s stock valued at $784,000 after buying an additional 1,213 shares during the last quarter. Laurion Capital Management LP acquired a new stake in Cimarex Energy in the 1st quarter valued at approximately $299,000. Finally, Vanguard Group Inc. grew its holdings in 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 buying an additional 269,198 shares during the last quarter. 91.31% of the stock is currently owned by hedge funds and other institutional investors.
Cimarex Energy Co (NYSE XEC) opened at 106.72 on Friday. Cimarex Energy Co has a 12 month low of $89.49 and a 12 month high of $146.96. The company has a market cap of $9.97 billion, a P/E ratio of 38.22 and a beta of 1.32. The firm has a 50-day moving average price of $99.10 and a 200 day moving average price of $107.28.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.11. The business had revenue of $456.50 million for the quarter, compared to the consensus estimate of $441.52 million. Cimarex Energy had a return on equity of 13.29% and a net margin of 15.64%. The firm’s quarterly revenue was up 52.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.07 earnings per share. On average, equities analysts expect that Cimarex Energy Co will post $4.17 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Tuesday, November 14th. Cimarex Energy’s dividend payout ratio is currently 12.03%.
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Several analysts have recently weighed in on XEC shares. Jefferies Group LLC set a $98.00 price objective on Cimarex Energy and gave the stock a “hold” rating in a report on Tuesday, August 29th. Cowen and Company set a $135.00 price objective on Cimarex Energy and gave the stock a “buy” rating in a report on Friday, August 25th. BidaskClub raised Cimarex Energy from a “strong sell” rating to a “sell” rating in a report on Thursday, August 24th. Stifel Nicolaus set a $169.00 price objective on Cimarex Energy and gave the stock a “buy” rating in a report on Wednesday, August 16th. Finally, Barclays PLC lifted their price objective on Cimarex Energy from $112.00 to $117.00 and gave the stock an “overweight” rating in a report on Tuesday, August 15th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company’s stock. Cimarex Energy currently has an average rating of “Hold” and a consensus price target of $136.40.
In related news, VP Joseph R. Albi sold 4,000 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $106.13, for a total transaction of $424,520.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Harold R. Logan, Jr. sold 913 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $105.83, for a total value of $96,622.79. Following the completion of the sale, the director now directly owns 9,299 shares in the company, valued at approximately $984,113.17. The disclosure for this sale can be found here. Insiders have sold 21,299 shares of company stock worth $2,204,271 in the last three months. 1.70% of the stock is currently owned by company insiders.
Cimarex Energy Profile
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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