Cimarex Energy Co (XEC) Position Reduced by Arizona State Retirement System
Arizona State Retirement System cut its holdings in Cimarex Energy Co (NYSE:XEC) by 10.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,264 shares of the oil and gas producer’s stock after selling 5,899 shares during the period. Arizona State Retirement System owned 0.05% of Cimarex Energy worth $3,099,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. First Bank & Trust acquired a new position in Cimarex Energy in the fourth quarter valued at approximately $28,000. Huntington National Bank lifted its holdings in Cimarex Energy by 948.3% in the fourth quarter. Huntington National Bank now owns 629 shares of the oil and gas producer’s stock valued at $39,000 after acquiring an additional 569 shares during the last quarter. Ipswich Investment Management Co. Inc. acquired a new position in Cimarex Energy in the fourth quarter valued at approximately $49,000. JNBA Financial Advisors acquired a new position in Cimarex Energy in the third quarter valued at approximately $143,000. Finally, Glenmede Trust Co. NA lifted its holdings in Cimarex Energy by 2,358.0% in the third quarter. Glenmede Trust Co. NA now owns 2,458 shares of the oil and gas producer’s stock valued at $228,000 after acquiring an additional 2,358 shares during the last quarter. Hedge funds and other institutional investors own 98.26% of the company’s stock.
A number of research analysts recently commented on the company. Imperial Capital reiterated an “in-line” rating on shares of Cimarex Energy in a report on Tuesday, November 20th. Jefferies Financial Group set a $117.00 price target on Cimarex Energy and gave the stock a “buy” rating in a research note on Tuesday, November 20th. Ifs Securities restated a “market perform” rating on shares of Cimarex Energy in a research note on Sunday, February 3rd. Williams Capital set a $129.00 price target on Cimarex Energy and gave the stock a “buy” rating in a research note on Wednesday, November 7th. Finally, ValuEngine cut Cimarex Energy from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 23rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $113.40.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings data on Tuesday, November 6th. The oil and gas producer reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.47. The business had revenue of $591.50 million for the quarter, compared to analysts’ expectations of $561.67 million. Cimarex Energy had a return on equity of 23.33% and a net margin of 28.70%. The company’s revenue for the quarter was up 27.6% compared to the same quarter last year. During the same period last year, the firm earned $1.09 earnings per share. As a group, analysts anticipate that Cimarex Energy Co will post 7.15 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 15th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Thursday, February 14th. Cimarex Energy’s payout ratio is currently 15.48%.
In other news, Director Michael J/Co Sullivan sold 1,492 shares of the stock in a transaction on Friday, December 14th. The stock was sold at an average price of $70.22, for a total value of $104,768.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.70% of the stock is currently owned by company insiders.
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Cimarex Energy Profile
Cimarex Energy Co operates as an independent oil and gas exploration and production company primarily in Oklahoma, Texas, and New Mexico. As of December 31, 2017, it had a total proved oil and gas reserves of 3.35 trillion cubic feet equivalent (Tcfe) consisting of 1.61 trillion cubic feet of natural gas, 0.82 Tcfe of oil, and 0.92 Tcfe of natural gas liquids primarily located in the Mid-Continent and Permian Basin regions.
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