Meeder Asset Management Inc. acquired a new position in shares of Cimarex Energy Co (NYSE:XEC) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,809 shares of the oil and gas producer’s stock, valued at approximately $206,000.
A number of other hedge funds have also recently modified their holdings of XEC. Turner Investments LLC acquired a new position in Cimarex Energy during the second quarter worth $100,000. Advisor Group Inc. raised its holdings in Cimarex Energy by 5.3% during the second quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock worth $113,000 after purchasing an additional 60 shares during the last quarter. Global X Management Co. LLC raised its holdings in Cimarex Energy by 14.7% during the second quarter. Global X Management Co. LLC now owns 1,265 shares of the oil and gas producer’s stock worth $119,000 after purchasing an additional 162 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Cimarex Energy by 0.7% during the second quarter. State of Alaska Department of Revenue now owns 1,427 shares of the oil and gas producer’s stock worth $134,000 after purchasing an additional 10 shares during the last quarter. Finally, Pacer Advisors Inc. raised its holdings in Cimarex Energy by 8.3% during the second quarter. Pacer Advisors Inc. now owns 1,935 shares of the oil and gas producer’s stock worth $182,000 after purchasing an additional 148 shares during the last quarter. 89.97% of the stock is owned by hedge funds and other institutional investors.
In other Cimarex Energy news, Director Harold R. Logan, Jr. sold 913 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $105.83, for a total transaction of $96,622.79. Following the completion of the sale, the director now directly owns 9,299 shares in the company, valued at $984,113.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas E. Jorden sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $101.67, for a total transaction of $254,175.00. The disclosure for this sale can be found here. Insiders have sold 21,299 shares of company stock valued at $2,204,271 over the last 90 days. Corporate insiders own 1.70% of the company’s stock.
Several equities analysts have weighed in on XEC shares. Jefferies Group LLC reissued a “hold” rating and set a $119.00 price target on shares of Cimarex Energy in a research report on Thursday, July 6th. Citigroup Inc. dropped their price target on Cimarex Energy from $150.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, July 13th. Stifel Nicolaus reissued a “buy” rating and set a $169.00 price target on shares of Cimarex Energy in a research report on Friday, July 14th. Piper Jaffray Companies dropped their price target on Cimarex Energy from $141.00 to $116.00 and set a “neutral” rating for the company in a research report on Monday, September 18th. Finally, BidaskClub raised Cimarex Energy from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 24th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $136.18.
Cimarex Energy Co (NYSE:XEC) opened at 115.45 on Friday. The firm has a market cap of $10.78 billion, a PE ratio of 41.35 and a beta of 1.35. 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 $112.22 and its 200-day moving average price is $105.84.
Cimarex Energy (NYSE:XEC) last posted its earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.11. Cimarex Energy had a net margin of 15.64% and a return on equity of 13.29%. The firm had revenue of $456.50 million for the quarter, compared to the consensus estimate of $441.52 million. During the same period in the prior year, the business posted $0.07 earnings per share. The business’s quarterly revenue was up 52.7% on a year-over-year basis. On average, analysts forecast that Cimarex Energy Co will post $4.27 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend is Tuesday, November 14th. Cimarex Energy’s dividend payout ratio (DPR) is 12.03%.
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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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