Cimarex Energy Co (XEC) Position Cut by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan trimmed its stake in Cimarex Energy Co (NYSE:XEC) by 18.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,460 shares of the oil and gas producer’s stock after selling 560 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Cimarex Energy were worth $280,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in XEC. Principal Financial Group Inc. grew its holdings in Cimarex Energy by 968.7% in the second quarter. Principal Financial Group Inc. now owns 1,544,775 shares of the oil and gas producer’s stock valued at $145,224,000 after purchasing an additional 1,400,223 shares during the period. Janus Henderson Group PLC grew its stake in Cimarex Energy by 7,007.8% during the second quarter. Janus Henderson Group PLC now owns 834,313 shares of the oil and gas producer’s stock worth $78,434,000 after buying an additional 822,575 shares during the period. APG Asset Management N.V. grew its stake in Cimarex Energy by 274.1% during the third quarter. APG Asset Management N.V. now owns 743,117 shares of the oil and gas producer’s stock worth $84,470,000 after buying an additional 544,465 shares during the period. Renaissance Technologies LLC grew its stake in Cimarex Energy by 767.6% during the second quarter. Renaissance Technologies LLC now owns 535,298 shares of the oil and gas producer’s stock worth $50,323,000 after buying an additional 473,600 shares during the period. Finally, BlackRock Inc. grew its stake in Cimarex Energy by 5.2% during the second quarter. BlackRock Inc. now owns 7,512,811 shares of the oil and gas producer’s stock worth $706,278,000 after buying an additional 371,390 shares during the period. Hedge funds and other institutional investors own 92.35% of the company’s stock.

Several equities research analysts have issued reports on XEC shares. KeyCorp reiterated a “buy” rating on shares of Cimarex Energy in a research note on Wednesday, November 8th. Morgan Stanley boosted their price objective 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 boosted their price objective 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 objective on shares of Cimarex Energy and gave the stock a “buy” rating in a research note on Thursday, October 5th. Finally, Citigroup reiterated a “buy” rating and set a $120.00 price objective on shares of Cimarex Energy in a research note on Friday, October 13th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company’s stock. Cimarex Energy has a consensus rating of “Buy” and an average price target of $136.60.

Shares of Cimarex Energy Co (NYSE XEC) traded up $0.82 during mid-day trading on Tuesday, hitting $112.72. 769,800 shares of the stock traded hands, compared to its average volume of 1,044,494. The stock has a market capitalization of $10,740.00, a P/E ratio of 29.45 and a beta of 1.34. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 0.62. Cimarex Energy Co has a fifty-two week low of $89.49 and a fifty-two week high of $146.96.

Cimarex Energy (NYSE:XEC) last announced its earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.12. The business had revenue of $463.68 million during the quarter, compared to the consensus estimate of $451.53 million. Cimarex Energy had a net margin of 20.45% and a return on equity of 16.11%. The business’s quarterly revenue was up 38.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 earnings per share. research analysts forecast that Cimarex Energy Co will post 4.35 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.28%. Cimarex Energy’s dividend payout ratio (DPR) is presently 8.00%.

In related news, Director Lisa A. Stewart purchased 248 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The shares were purchased at an average cost of $112.06 per share, with a total value of $27,790.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Stephen P. Bell sold 2,500 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $105.00, for a total transaction of $262,500.00. The disclosure for this sale can be found here. Insiders sold 27,948 shares of company stock valued at $3,212,315 over the last 90 days. Insiders own 1.70% of the company’s stock.

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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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Institutional Ownership by Quarter for Cimarex Energy (NYSE:XEC)

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