Suntrust Banks Inc. Acquires 561 Shares of Cimarex Energy Co (XEC)
Suntrust Banks Inc. raised its holdings in Cimarex Energy Co (NYSE:XEC) by 21.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,228 shares of the oil and gas producer’s stock after acquiring an additional 561 shares during the quarter. Suntrust Banks Inc.’s holdings in Cimarex Energy were worth $302,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in XEC. PNC Financial Services Group Inc. boosted its stake in Cimarex Energy by 6.9% in the first quarter. PNC Financial Services Group Inc. now owns 12,469 shares of the oil and gas producer’s stock valued at $1,490,000 after acquiring an additional 802 shares during the last quarter. Global X Management Co. LLC boosted its stake 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 valued at $132,000 after acquiring an additional 136 shares during the last quarter. MARSHALL WACE ASIA Ltd bought a new position in Cimarex Energy in the first quarter valued at approximately $2,458,000. Cambridge Investment Research Advisors Inc. bought a new position in Cimarex Energy in the first quarter valued at approximately $230,000. Finally, Morgan Stanley boosted its stake in Cimarex Energy by 154.8% in the first quarter. Morgan Stanley now owns 382,356 shares of the oil and gas producer’s stock valued at $45,688,000 after acquiring an additional 232,290 shares during the last quarter. 90.06% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on XEC shares. Citigroup Inc. reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Cimarex Energy in a research note on Friday. Cowen and Company set a $135.00 price objective on shares of Cimarex Energy and gave the company a “buy” rating in a research note on Friday, August 25th. Imperial Capital started coverage on shares of Cimarex Energy in a research note on Tuesday, September 19th. They issued an “outperform” rating and a $135.00 price objective on the stock. Stifel Nicolaus set a $168.00 price objective on shares of Cimarex Energy and gave the company a “buy” rating in a research note on Thursday, October 5th. Finally, Barclays PLC raised their price objective on shares of Cimarex Energy from $117.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company. Cimarex Energy currently has a consensus rating of “Buy” and an average target price of $134.86.
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Shares of Cimarex Energy Co (XEC) opened at 114.86 on Monday. The company’s 50 day moving average is $108.67 and its 200-day moving average is $105.94. The firm has a market capitalization of $10.73 billion, a price-to-earnings ratio of 41.14 and a beta of 1.35. Cimarex Energy Co has a one year low of $89.49 and a one year high of $146.96.
Cimarex Energy (NYSE:XEC) last issued its earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 net margin of 15.64% and a return on equity of 13.29%. Cimarex Energy’s revenue was up 52.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 earnings per share. Equities analysts expect that Cimarex Energy Co will post $4.19 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date is Tuesday, November 14th. Cimarex Energy’s dividend payout ratio (DPR) is 12.03%.
In other Cimarex Energy news, VP Joseph R. Albi sold 2,750 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The shares were 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 SEC, which is available through the SEC website. Also, CEO Thomas E. Jorden sold 2,500 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $101.67, for a total transaction of $254,175.00. The disclosure for this sale can be found here. Insiders sold 21,299 shares of company stock worth $2,204,271 over the last ninety days. Insiders own 1.70% of the company’s stock.
Cimarex Energy Company 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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