Gateway Investment Advisers LLC Has $611,000 Position in Cimarex Energy Co (XEC)
Gateway Investment Advisers LLC increased its position in shares of Cimarex Energy Co (NYSE:XEC) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,496 shares of the oil and gas producer’s stock after buying an additional 9 shares during the period. Gateway Investment Advisers LLC’s holdings in Cimarex Energy were worth $611,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in XEC. Bank of Montreal Can raised its position in Cimarex Energy by 192.6% in the second quarter. Bank of Montreal Can now owns 151,333 shares of the oil and gas producer’s stock worth $14,227,000 after buying an additional 99,612 shares in the last quarter. Addison Capital Co raised its position in Cimarex Energy by 25.7% in the second quarter. Addison Capital Co now owns 18,417 shares of the oil and gas producer’s stock worth $1,731,000 after buying an additional 3,767 shares in the last quarter. Capstone Asset Management Co. raised its position in Cimarex Energy by 7.5% in the second quarter. Capstone Asset Management Co. now owns 6,464 shares of the oil and gas producer’s stock worth $608,000 after buying an additional 450 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Cimarex Energy during the second quarter worth about $423,000. Finally, Xact Kapitalforvaltning AB raised its position in Cimarex Energy by 17.0% in the second quarter. Xact Kapitalforvaltning AB now owns 8,339 shares of the oil and gas producer’s stock worth $784,000 after buying an additional 1,213 shares in the last quarter. Institutional investors and hedge funds own 94.55% of the company’s stock.
Shares of Cimarex Energy Co (NYSE:XEC) traded up 2.08% during trading on Friday, hitting $98.30. The company had a trading volume of 1,130,361 shares. The firm has a 50 day moving average of $95.56 and a 200 day moving average of $111.35. Cimarex Energy Co has a 12-month low of $89.49 and a 12-month high of $146.96. The stock has a market cap of $9.18 billion, a PE ratio of 35.21 and a beta of 1.32.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.11. The company had revenue of $456.50 million for the quarter, compared to the consensus estimate of $441.52 million. Cimarex Energy had a return on equity of 13.29% and a net margin of 15.64%. The firm’s quarterly revenue was up 52.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.07 EPS. On average, analysts forecast that Cimarex Energy Co will post $4.20 earnings per share for the current fiscal year.
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A number of research firms recently issued reports on XEC. BidaskClub lowered Cimarex Energy from a “sell” rating to a “strong sell” rating in a research report on Thursday. Stifel Nicolaus set a $169.00 target price on Cimarex Energy and gave the company a “buy” rating in a research note on Wednesday. Barclays PLC lifted their target price on Cimarex Energy from $112.00 to $117.00 and gave the company an “overweight” rating in a research note on Tuesday. Morgan Stanley lifted their target price on Cimarex Energy from $135.00 to $138.00 and gave the company an “overweight” rating in a research note on Thursday, August 10th. Finally, Williams Capital reaffirmed a “buy” rating and set a $136.00 target price on shares of Cimarex Energy in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the stock. Cimarex Energy currently has a consensus rating of “Hold” and a consensus price target of $138.20.
In related news, CEO Thomas E. Jorden sold 2,500 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $101.67, for a total transaction of $254,175.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP John Lambuth sold 2,136 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $99.84, for a total value of $213,258.24. Following the sale, the senior vice president now directly owns 106,532 shares in the company, valued at approximately $10,636,154.88. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
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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