Sterling Capital Management LLC decreased its holdings in shares of Cimarex Energy Co (NYSE:XEC) by 91.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,500 shares of the oil and gas producer’s stock after selling 25,262 shares during the period. Sterling Capital Management LLC’s holdings in Cimarex Energy were worth $235,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in XEC. Cambridge Investment Research Advisors Inc. bought a new position in Cimarex Energy during the first quarter worth about $230,000. Renaissance Technologies LLC lifted its stake in Cimarex Energy by 16.6% during the first quarter. Renaissance Technologies LLC now owns 61,698 shares of the oil and gas producer’s stock worth $7,372,000 after purchasing an additional 8,800 shares during the period. Public Employees Retirement System of Ohio lifted its stake in Cimarex Energy by 2.7% during the first quarter. Public Employees Retirement System of Ohio now owns 51,868 shares of the oil and gas producer’s stock worth $6,198,000 after purchasing an additional 1,350 shares during the period. DnB Asset Management AS lifted its stake in Cimarex Energy by 12.9% during the second quarter. DnB Asset Management AS now owns 13,959 shares of the oil and gas producer’s stock worth $1,312,000 after purchasing an additional 1,600 shares during the period. Finally, Xact Kapitalforvaltning AB lifted its stake in Cimarex Energy by 17.0% during the second quarter. Xact Kapitalforvaltning AB now owns 8,339 shares of the oil and gas producer’s stock worth $784,000 after purchasing an additional 1,213 shares during the period. Hedge funds and other institutional investors own 89.97% of the company’s stock.
Shares of Cimarex Energy Co (NYSE XEC) opened at 115.45 on Friday. The firm has a market cap of $10.78 billion, a price-to-earnings ratio of 41.35 and a beta of 1.35. The firm’s 50-day moving average is $112.22 and its 200-day moving average is $105.84. Cimarex Energy Co has a 12-month low of $89.49 and a 12-month high of $146.96.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.11. The firm had revenue of $456.50 million during the quarter, compared to the consensus estimate of $441.52 million. Cimarex Energy had a net margin of 15.64% and a return on equity of 13.29%. The company’s revenue for the quarter was up 52.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 earnings per share. Analysts predict that Cimarex Energy Co will post $4.27 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend is Tuesday, November 14th. Cimarex Energy’s payout ratio is currently 12.03%.
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A number of research analysts have commented on XEC shares. Morgan Stanley raised their price target on shares of Cimarex Energy from $138.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 18th. Williams Capital raised their price target on shares of Cimarex Energy from $132.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Stifel Nicolaus set a $168.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a research note on Thursday, October 5th. Citigroup Inc. restated a “buy” rating and set a $120.00 price target on shares of Cimarex Energy in a research note on Friday, October 13th. Finally, Cowen and Company set a $135.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a research note on Friday, August 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $136.18.
In other news, SVP John Lambuth sold 2,136 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were 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 $10,636,154.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harold R. Logan, Jr. sold 913 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $105.83, for a total transaction of $96,622.79. Following the transaction, the director now directly owns 9,299 shares of the company’s stock, valued at approximately $984,113.17. The disclosure for this sale can be found here. Insiders have sold 21,299 shares of company stock valued at $2,204,271 in the last ninety days. Insiders own 1.70% of the company’s stock.
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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