Viking Fund Management LLC Reduces Stake in Cimarex Energy Co. (XEC)
Viking Fund Management LLC cut its position in Cimarex Energy Co. (NYSE:XEC) by 13.0% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 100,000 shares of the company’s stock after selling 15,000 shares during the period. Cimarex Energy accounts for about 2.2% of Viking Fund Management LLC’s holdings, making the stock its 19th largest position. Viking Fund Management LLC owned 0.11% of Cimarex Energy worth $13,437,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the company. IFP Advisors Inc boosted its position in shares of Cimarex Energy by 119.0% in the first quarter. IFP Advisors Inc now owns 1,292 shares of the company’s stock worth $126,000 after buying an additional 702 shares in the last quarter. Societe Generale acquired a new position in shares of Cimarex Energy during the second quarter worth about $128,000. Point72 Asia Hong Kong Ltd acquired a new position in shares of Cimarex Energy during the second quarter worth about $131,000. Mizuho Asset Management Co. Ltd. boosted its position in shares of Cimarex Energy by 96.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,234 shares of the company’s stock worth $147,000 after buying an additional 606 shares in the last quarter. Finally, AXA boosted its position in shares of Cimarex Energy by 22.3% in the first quarter. AXA now owns 1,681 shares of the company’s stock worth $164,000 after buying an additional 307 shares in the last quarter. Institutional investors and hedge funds own 92.39% of the company’s stock.
Cimarex Energy Co. (NYSE:XEC) traded down 0.18% during trading on Thursday, reaching $139.55. 503,804 shares of the company’s stock were exchanged. Cimarex Energy Co. has a 12-month low of $72.77 and a 12-month high of $142.07. The company’s market cap is $13.26 billion. The stock’s 50-day moving average is $132.15 and its 200-day moving average is $119.23.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.18. Cimarex Energy had a negative return on equity of 2.41% and a negative net margin of 153.32%. The firm had revenue of $298.90 million for the quarter, compared to the consensus estimate of $279.22 million. During the same period in the previous year, the business earned $0.15 earnings per share. The company’s revenue for the quarter was down 29.6% compared to the same quarter last year. Analysts predict that Cimarex Energy Co. will post $0.62 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.23%. Cimarex Energy’s dividend payout ratio (DPR) is presently -1.61%.
Several research firms recently weighed in on XEC. Canaccord Genuity restated a “hold” rating and set a $89.00 price target on shares of Cimarex Energy in a report on Wednesday, July 6th. Citigroup Inc. boosted their price target on shares of Cimarex Energy from $149.00 to $157.00 and gave the stock a “buy” rating in a report on Monday, September 12th. Wunderlich boosted their price target on shares of Cimarex Energy from $122.00 to $139.00 and gave the stock a “buy” rating in a report on Thursday, June 30th. Zacks Investment Research cut shares of Cimarex Energy from a “buy” rating to a “hold” rating in a report on Monday, July 11th. Finally, Barclays PLC boosted their price target on shares of Cimarex Energy from $116.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, July 14th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $119.68.
In related news, VP Gary R. Abbott sold 7,500 shares of Cimarex Energy stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $132.00, for a total value of $990,000.00. Following the sale, the vice president now directly owns 104,072 shares in the company, valued at $13,737,504. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Thomas E. Jorden sold 2,500 shares of Cimarex Energy stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $131.19, for a total value of $327,975.00. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.
Cimarex Energy Company Profile
Cimarex Energy Co is an independent oil and gas exploration and production company. The Company’s segment is exploration and production. Its operations are located mainly in Oklahoma, Texas and New Mexico. Its operations are focused in approximately two main areas, such as the Permian Basin and the Mid-Continent region.
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