Employees Retirement System of Texas Holds Stake in Cimarex Energy Co (XEC)
Employees Retirement System of Texas maintained its position in Cimarex Energy Co (NYSE:XEC) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,000 shares of the oil and gas producer’s stock at the end of the second quarter. Employees Retirement System of Texas’ holdings in Cimarex Energy were worth $846,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in XEC. Principal Financial Group Inc. boosted 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 acquiring an additional 1,400,223 shares during the period. Renaissance Technologies LLC boosted its holdings in Cimarex Energy by 767.6% in the 2nd quarter. Renaissance Technologies LLC now owns 535,298 shares of the oil and gas producer’s stock worth $50,323,000 after acquiring an additional 473,600 shares during the period. BlackRock Inc. boosted its holdings in Cimarex Energy by 5.2% in the 2nd quarter. BlackRock Inc. now owns 7,512,811 shares of the oil and gas producer’s stock worth $706,278,000 after acquiring an additional 371,390 shares during the period. Diamond Hill Capital Management Inc. boosted 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 acquiring an additional 307,581 shares during the period. Finally, Bank of America Corp DE boosted 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 acquiring an additional 296,415 shares during the period. Hedge funds and other institutional investors own 90.06% of the company’s stock.
Shares of Cimarex Energy Co (NYSE:XEC) opened at 116.32 on Wednesday. Cimarex Energy Co has a 12 month low of $89.49 and a 12 month high of $146.96. The firm has a market capitalization of $10.86 billion, a price-to-earnings ratio of 41.66 and a beta of 1.35. The firm has a 50-day moving average price of $108.67 and a 200 day moving average price of $105.94.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 EPS for the quarter, beating 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 return on equity of 13.29% and a net margin of 15.64%. Cimarex Energy’s quarterly revenue was up 52.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.07 EPS. On average, analysts anticipate that Cimarex Energy Co will post $4.21 EPS for the current fiscal 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 paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend is Tuesday, November 14th. Cimarex Energy’s dividend payout ratio is 12.03%.
In other Cimarex Energy news, VP Joseph R. Albi sold 2,750 shares of Cimarex Energy 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Harold R. Logan, Jr. sold 913 shares of Cimarex Energy 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 transaction, the director now owns 9,299 shares of the company’s stock, valued at approximately $984,113.17. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,299 shares of company stock worth $2,204,271. 1.70% of the stock is owned by insiders.
XEC has been the subject of several research analyst reports. Stifel Nicolaus set a $168.00 target price on Cimarex Energy and gave the company a “buy” rating in a research note on Thursday, October 5th. Barclays PLC increased their target price on Cimarex Energy from $112.00 to $117.00 and gave the company an “overweight” rating in a research note on Tuesday, August 15th. BidaskClub upgraded Cimarex Energy from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 24th. Jefferies Group LLC reiterated a “hold” rating and set a $119.00 target price on shares of Cimarex Energy in a research note on Thursday, July 6th. Finally, Cowen and Company set a $135.00 target price on Cimarex Energy and gave the company a “buy” rating in a research note on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $135.05.
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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