Cimarex Energy Co (XEC) Stake Lessened by Alliancebernstein L.P.
Alliancebernstein L.P. lowered its stake in shares of Cimarex Energy Co (NYSE:XEC) by 3.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,671 shares of the oil and gas producer’s stock after selling 6,649 shares during the quarter. Alliancebernstein L.P. owned about 0.17% of Cimarex Energy worth $15,293,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. increased 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 worth $853,329,000 after buying an additional 6,920,140 shares during the period. Principal Financial Group Inc. increased its holdings in Cimarex Energy by 968.7% in the 2nd 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 during the period. Lazard Asset Management LLC increased its holdings in Cimarex Energy by 1,366.3% in the 1st quarter. Lazard Asset Management LLC now owns 890,780 shares of the oil and gas producer’s stock worth $106,439,000 after buying an additional 830,028 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in Cimarex Energy by 8.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 4,063,310 shares of the oil and gas producer’s stock worth $381,992,000 after buying an additional 307,581 shares during the period. Finally, Bank of America Corp DE increased its holdings in Cimarex Energy by 46.7% in the 1st quarter. Bank of America Corp DE now owns 931,104 shares of the oil and gas producer’s stock worth $111,258,000 after buying an additional 296,415 shares during the period. Hedge funds and other institutional investors own 90.25% of the company’s stock.
Cimarex Energy Co (NYSE XEC) opened at 110.85 on Friday. Cimarex Energy Co has a 12 month low of $89.49 and a 12 month high of $146.96. The stock’s 50 day moving average price is $99.58 and its 200-day moving average price is $106.74. The stock has a market cap of $10.35 billion, a price-to-earnings ratio of 39.70 and a beta of 1.32.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.11. Cimarex Energy had a return on equity of 13.29% and a net margin of 15.64%. The firm had revenue of $456.50 million for the quarter, compared to analyst estimates of $441.52 million. During the same quarter in the prior year, the company posted $0.07 earnings per share. Cimarex Energy’s quarterly revenue was up 52.7% on a year-over-year basis. Equities research analysts predict that Cimarex Energy Co will post $4.17 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date is Tuesday, November 14th. Cimarex Energy’s dividend payout ratio is presently 12.03%.
Several brokerages recently weighed in on XEC. Scotiabank set a $143.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a report on Saturday, July 1st. Barclays PLC increased their price target on shares of Cimarex Energy from $112.00 to $117.00 and gave the stock an “overweight” rating in a report on Tuesday, August 15th. Stifel Nicolaus set a $169.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a report on Wednesday, August 16th. BidaskClub downgraded shares of Cimarex Energy from a “sell” rating to a “strong sell” rating in a report on Thursday, August 17th. Finally, Jefferies Group LLC set a $98.00 price target on shares of Cimarex Energy and gave the stock a “hold” rating in a report on Tuesday, August 29th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $134.19.
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In related news, CEO Thomas E. Jorden sold 2,500 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $101.67, for a total transaction of $254,175.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Joseph R. Albi sold 2,750 shares of the company’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 disclosure for this sale can be found here. Insiders have sold 21,299 shares of company stock worth $2,204,271 in the last ninety days. 1.70% of the stock is currently owned by corporate 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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