State of Tennessee Treasury Department Cuts Holdings in Cimarex Energy Co (XEC)
State of Tennessee Treasury Department lowered its position in Cimarex Energy Co (NYSE:XEC) by 38.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,013 shares of the oil and gas producer’s stock after selling 16,084 shares during the quarter. State of Tennessee Treasury Department’s holdings in Cimarex Energy were worth $2,445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Cipher Capital LP boosted its stake in Cimarex Energy by 82.0% in the second quarter. Cipher Capital LP now owns 88,272 shares of the oil and gas producer’s stock worth $8,299,000 after buying an additional 39,772 shares in the last quarter. Swiss National Bank boosted its stake in Cimarex Energy by 3.0% in the second quarter. Swiss National Bank now owns 346,661 shares of the oil and gas producer’s stock worth $32,590,000 after buying an additional 10,100 shares in the last quarter. Pacad Investment Ltd. purchased a new stake in Cimarex Energy in the second quarter worth approximately $277,000. Commerce Bank purchased a new stake in Cimarex Energy in the second quarter worth approximately $327,000. Finally, Principal Financial Group Inc. boosted its stake in Cimarex Energy by 968.7% in the second quarter. Principal Financial Group Inc. now owns 1,544,775 shares of the oil and gas producer’s stock worth $145,224,000 after buying an additional 1,400,223 shares in the last quarter. 91.31% of the stock is owned by institutional investors and hedge funds.
In other news, VP Joseph R. Albi sold 2,750 shares of the business’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $99.02, for a total value of $272,305.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas E. Jorden sold 2,500 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $101.67, for a total value of $254,175.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,299 shares of company stock valued at $2,204,271. 1.70% of the stock is currently owned by corporate insiders.
Several analysts have weighed in on XEC shares. Scotiabank set a $143.00 price objective on Cimarex Energy and gave the company a “buy” rating in a research report on Saturday, July 1st. Barclays PLC boosted their price objective on Cimarex Energy from $112.00 to $117.00 and gave the company an “overweight” rating in a research report on Tuesday, August 15th. Stifel Nicolaus set a $169.00 price objective on Cimarex Energy and gave the company a “buy” rating in a research report on Wednesday, August 16th. BidaskClub downgraded Cimarex Energy from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Finally, Jefferies Group LLC set a $98.00 price objective on Cimarex Energy and gave the company a “hold” rating in a research report on Tuesday, August 29th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the company. Cimarex Energy currently has a consensus rating of “Hold” and an average price target of $136.40.
Shares of Cimarex Energy Co (NYSE XEC) opened at 106.72 on Friday. The stock has a market capitalization of $9.97 billion, a PE ratio of 38.22 and a beta of 1.32. Cimarex Energy Co has a 52 week low of $89.49 and a 52 week high of $146.96. The company 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 earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.11. The business had revenue of $456.50 million during the quarter, compared to analyst estimates of $441.52 million. Cimarex Energy had a return on equity of 13.29% and a net margin of 15.64%. Cimarex Energy’s revenue was up 52.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 EPS. Equities analysts forecast that Cimarex Energy Co will post $4.17 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders 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 is Tuesday, November 14th. Cimarex Energy’s dividend payout ratio (DPR) is presently 12.03%.
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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