Pictet Asset Management Ltd. decreased its stake in Cimarex Energy Co (NYSE:XEC) by 4.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 51,506 shares of the oil and gas producer’s stock after selling 2,600 shares during the period. Pictet Asset Management Ltd. owned 0.06% of Cimarex Energy worth $5,540,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in XEC. Global X Management Co. LLC boosted its position in shares of 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 buying an additional 136 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of Cimarex Energy during the first quarter valued at about $169,000. Winch Advisory Services LLC purchased a new position in shares of Cimarex Energy during the first quarter valued at about $186,000. Eagle Ridge Investment Management boosted 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 boosted 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. Hedge funds and other institutional investors own 94.55% of the company’s stock.
Cimarex Energy Co (NYSE XEC) opened at 96.30 on Friday. The firm has a market capitalization of $8.99 billion, a price-to-earnings ratio of 34.49 and a beta of 1.32. The company’s 50-day moving average price is $95.45 and its 200-day moving average price is $111.61. Cimarex Energy Co has a 12-month low of $89.49 and a 12-month high of $146.96.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.11. The company 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%. The business’s revenue was up 52.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.07 earnings per share. Equities analysts expect that Cimarex Energy Co will post $4.22 EPS for the current fiscal year.
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Several brokerages recently issued reports on XEC. UBS AG restated a “neutral” rating and set a $134.00 price objective (up from $131.00) on shares of Cimarex Energy in a research note on Friday, May 12th. Scotiabank set a $143.00 price objective on Cimarex Energy and gave the stock a “buy” rating in a research note on Saturday, July 1st. BidaskClub cut Cimarex Energy from a “sell” rating to a “strong sell” rating in a research note on Thursday. Williams Capital reiterated a “buy” rating and issued a $136.00 target price on shares of Cimarex Energy in a research note on Wednesday, August 9th. Finally, Barclays PLC raised 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. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $138.20.
In other news, CEO Thomas E. Jorden sold 2,500 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $101.67, for a total transaction of $254,175.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP John Lambuth sold 2,136 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $99.84, for a total value of $213,258.24. Following the transaction, the senior vice president now directly owns 106,532 shares in the company, valued at approximately $10,636,154.88. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by 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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