Bank of New York Mellon Corp lowered its stake in Cimarex Energy Co (NYSE:XEC) by 10.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 963,419 shares of the oil and gas producer’s stock after selling 111,420 shares during the period. Bank of New York Mellon Corp owned approximately 1.03% of Cimarex Energy worth $90,570,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Global X Management Co. LLC increased its position in shares of Cimarex Energy by 14.7% in the second quarter. Global X Management Co. LLC now owns 1,265 shares of the oil and gas producer’s stock valued at $119,000 after buying an additional 162 shares during the period. State of Alaska Department of Revenue increased its position in shares of Cimarex Energy by 0.7% in the second quarter. State of Alaska Department of Revenue now owns 1,427 shares of the oil and gas producer’s stock valued at $134,000 after buying an additional 10 shares during the period. Winch Advisory Services LLC bought a new position in shares of Cimarex Energy during the first quarter valued at about $186,000. Eagle Ridge Investment Management increased its position in shares of Cimarex Energy by 3.0% in the first quarter. Eagle Ridge Investment Management now owns 1,720 shares of the oil and gas producer’s stock valued at $206,000 after buying an additional 50 shares during the period. Finally, Parallel Advisors LLC increased its position in shares of Cimarex Energy by 11.8% in the first quarter. Parallel Advisors LLC now owns 1,785 shares of the oil and gas producer’s stock valued at $211,000 after buying an additional 188 shares during the period. Institutional investors and hedge funds own 94.55% of the company’s stock.
Cimarex Energy Co (XEC) opened at 99.56 on Friday. The firm has a market cap of $9.30 billion, a P/E ratio of 35.66 and a beta of 1.32. Cimarex Energy Co has a 52-week low of $89.49 and a 52-week high of $146.96. The firm’s 50-day moving average price is $96.19 and its 200-day moving average price is $110.12.
Cimarex Energy (NYSE:XEC) last released its earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.11. The company had revenue of $456.50 million during the quarter, compared to analysts’ expectations of $441.52 million. Cimarex Energy had a return on equity of 13.29% and a net margin of 15.64%. The firm’s revenue for the quarter was up 52.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 EPS. Equities research analysts expect that Cimarex Energy Co will post $4.17 EPS for the current year.
XEC has been the topic of several research reports. Stifel Nicolaus reiterated a “buy” rating on shares of Cimarex Energy in a research report on Wednesday, June 28th. KLR Group reiterated a “buy” rating and set a $151.00 price target (up previously from $149.00) on shares of Cimarex Energy in a research report on Wednesday, May 17th. BMO Capital Markets set a $150.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Monday, May 15th. Williams Capital upgraded shares of Cimarex Energy from a “hold” rating to a “buy” rating and upped their price target for the stock from $148.00 to $160.00 in a research report on Monday, May 15th. They noted that the move was a valuation call. Finally, FBR & Co set a $141.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Thursday, May 18th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company’s stock. Cimarex Energy currently has a consensus rating of “Hold” and a consensus target price of $138.05.
In related news, SVP John Lambuth sold 2,136 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $99.84, for a total transaction of $213,258.24. Following the completion of the transaction, the senior vice president now owns 106,532 shares of the company’s stock, valued at approximately $10,636,154.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Joseph R. Albi sold 2,750 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were 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. In the last ninety days, insiders have sold 7,386 shares of company stock valued at $739,738. 1.70% of the stock is owned by corporate insiders.
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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