Oakbrook Investments LLC lowered its position in shares of Cimarex Energy Co (NYSE:XEC) by 46.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 3,855 shares of the oil and gas producer’s stock after selling 3,395 shares during the period. Oakbrook Investments LLC’s holdings in Cimarex Energy were worth $362,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in XEC. Renaissance Technologies LLC acquired a new stake in Cimarex Energy during the fourth quarter worth $7,189,000. Quadrature Capital Ltd boosted its stake in Cimarex Energy by 122.8% in the fourth quarter. Quadrature Capital Ltd now owns 12,125 shares of the oil and gas producer’s stock worth $1,648,000 after buying an additional 6,683 shares during the period. Hudson Bay Capital Management LP acquired a new stake in Cimarex Energy during the fourth quarter worth $1,699,000. Kentucky Retirement Systems acquired a new stake in Cimarex Energy during the fourth quarter worth $936,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Cimarex Energy during the fourth quarter worth $418,000. 92.87% of the stock is currently owned by institutional investors.
Cimarex Energy Co (XEC) opened at 99.18 on Friday. The firm’s market cap is $9.26 billion. Cimarex Energy Co has a 52-week low of $89.49 and a 52-week high of $146.96. The firm has a 50-day moving average of $94.85 and a 200 day moving average of $116.03.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings results on Wednesday, May 10th. The oil and gas producer reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.20. The business had revenue of $447.20 million during the quarter, compared to the consensus estimate of $423.62 million. Cimarex Energy had a negative net margin of 7.78% and a positive return on equity of 9.03%. Cimarex Energy’s revenue for the quarter was up 85.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.40) earnings per share. On average, equities research analysts forecast that Cimarex Energy Co will post $4.19 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date is Friday, August 11th. Cimarex Energy’s dividend payout ratio (DPR) is -25.20%.
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A number of equities research analysts have recently weighed in on XEC shares. Seaport Global Securities cut Cimarex Energy from a “buy” rating to a “neutral” rating in a report on Friday, March 31st. Jefferies Group LLC reaffirmed a “hold” rating and set a $123.00 price target on shares of Cimarex Energy in a report on Tuesday, April 18th. Citigroup Inc. reaffirmed a “buy” rating and set a $166.00 price target (up previously from $164.00) on shares of Cimarex Energy in a report on Saturday, April 22nd. Barclays PLC reaffirmed an “overweight” rating and set a $129.00 price target (down previously from $139.00) on shares of Cimarex Energy in a report on Saturday, April 22nd. Finally, UBS AG reaffirmed a “neutral” rating and set a $134.00 price target (up previously from $131.00) on shares of Cimarex Energy in a report on Friday, May 12th. 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 company’s stock. The company currently has an average rating of “Hold” and an average target price of $138.19.
In related news, CEO Thomas E. Jorden sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $116.40, for a total transaction of $291,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Stephen P. Bell sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $117.24, for a total transaction of $586,200.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,538 shares of company stock valued at $1,001,760. 1.70% of the stock is currently owned by insiders.
About Cimarex Energy
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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