Tiaa Fsb bought a new position in shares of Cimarex Energy Co (NYSE:XEC) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,344 shares of the oil and gas producer’s stock, valued at approximately $2,006,000.
A number of other institutional investors also recently bought and sold shares of XEC. BlackRock Inc. lifted its holdings in Cimarex Energy by 3,127.3% during the first quarter. BlackRock Inc. now owns 7,141,421 shares of the oil and gas producer’s stock worth $853,329,000 after buying an additional 6,920,140 shares during the period. Principal Financial Group Inc. lifted its holdings in Cimarex Energy by 968.7% during the second quarter. Principal Financial Group Inc. now owns 1,544,775 shares of the oil and gas producer’s stock worth $145,224,000 after buying an additional 1,400,223 shares during the period. Lazard Asset Management LLC lifted its holdings in Cimarex Energy by 1,366.3% during the first quarter. Lazard Asset Management LLC now owns 890,780 shares of the oil and gas producer’s stock worth $106,439,000 after buying an additional 830,028 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in Cimarex Energy by 8.2% during the second quarter. Diamond Hill Capital Management Inc. now owns 4,063,310 shares of the oil and gas producer’s stock worth $381,992,000 after buying an additional 307,581 shares during the period. Finally, Bank of America Corp DE lifted its holdings in Cimarex Energy by 46.7% during the first quarter. Bank of America Corp DE now owns 931,104 shares of the oil and gas producer’s stock worth $111,258,000 after buying an additional 296,415 shares during the period. Institutional investors own 90.25% of the company’s stock.
A number of research firms have weighed in on XEC. Goldman Sachs Group, Inc. (The) lowered Cimarex Energy from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $163.00 to $133.00 in a report on Tuesday, May 30th. Credit Suisse Group began coverage on Cimarex Energy in a report on Thursday, June 1st. They set an “outperform” rating and a $138.00 target price for the company. Imperial Capital began coverage on Cimarex Energy in a report on Tuesday. They set an “outperform” rating and a $135.00 target price for the company. Piper Jaffray Companies lowered their target price on Cimarex Energy from $141.00 to $116.00 and set a “neutral” rating for the company in a report on Monday, September 18th. Finally, BidaskClub upgraded Cimarex Energy from a “strong sell” rating to a “sell” rating in a report on Thursday, August 24th. Two research 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. The stock presently has a consensus rating of “Buy” and an average target price of $134.19.
In related news, VP Joseph R. Albi sold 2,750 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $99.02, for a total value of $272,305.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harold R. Logan, Jr. sold 913 shares of the business’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 completion of the sale, the director now directly owns 9,299 shares of the company’s stock, valued at $984,113.17. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,299 shares of company stock valued at $2,204,271. 1.70% of the stock is owned by corporate insiders.
Cimarex Energy Co (XEC) opened at 110.85 on Friday. Cimarex Energy Co has a 52-week low of $89.49 and a 52-week high of $146.96. The firm has a market capitalization of $10.35 billion, a P/E ratio of 39.70 and a beta of 1.32. The company has a 50 day moving average price of $99.58 and a 200 day moving average price of $106.74.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $441.52 million. During the same period in the previous year, the company earned $0.07 earnings per share. Cimarex Energy’s quarterly revenue was up 52.7% compared to the same quarter last year. On average, equities analysts forecast that Cimarex Energy Co will post $4.17 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be given a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.29%. Cimarex Energy’s dividend payout ratio (DPR) is presently 12.03%.
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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