Cimarex Energy Co (XEC) Holdings Raised by Zurich Insurance Group Ltd FI
Zurich Insurance Group Ltd FI boosted its stake in shares of Cimarex Energy Co (NYSE:XEC) by 20.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,318 shares of the oil and gas producer’s stock after purchasing an additional 3,319 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in Cimarex Energy were worth $1,816,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in XEC. UBS Asset Management Americas Inc. boosted its position in Cimarex Energy by 7.3% during the first quarter. UBS Asset Management Americas Inc. now owns 244,361 shares of the oil and gas producer’s stock worth $29,199,000 after purchasing an additional 16,527 shares during the period. Pacer Advisors Inc. boosted its position in Cimarex Energy by 3.2% during the first quarter. Pacer Advisors Inc. now owns 1,787 shares of the oil and gas producer’s stock worth $214,000 after purchasing an additional 55 shares during the period. Stifel Financial Corp boosted its position in Cimarex Energy by 13.3% during the first quarter. Stifel Financial Corp now owns 11,418 shares of the oil and gas producer’s stock worth $1,366,000 after purchasing an additional 1,337 shares during the period. Credit Agricole S A boosted its position in Cimarex Energy by 16.8% during the first quarter. Credit Agricole S A now owns 29,065 shares of the oil and gas producer’s stock worth $3,473,000 after purchasing an additional 4,173 shares during the period. Finally, Laurion Capital Management LP bought a new stake in Cimarex Energy during the first quarter worth approximately $299,000. 90.25% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on the company. Stifel Nicolaus set a $169.00 target price on Cimarex Energy and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Barclays PLC increased their price objective on Cimarex Energy from $112.00 to $117.00 and gave the company an “overweight” rating in a research report on Tuesday, August 15th. Scotiabank set a $143.00 price objective on Cimarex Energy and gave the company a “buy” rating in a research report on Saturday, July 1st. BidaskClub cut Cimarex Energy from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Finally, Jefferies Group LLC set a $98.00 price objective on Cimarex Energy and gave the company a “hold” rating in a research report on Tuesday, August 29th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the stock. Cimarex Energy currently has an average rating of “Buy” and a consensus price target of $134.14.
Shares of Cimarex Energy Co (XEC) opened at 115.64 on Friday. Cimarex Energy Co has a 52 week low of $89.49 and a 52 week high of $146.96. The stock has a 50 day moving average price of $106.09 and a 200-day moving average price of $106.24. The firm has a market capitalization of $10.80 billion, a price-to-earnings ratio of 41.42 and a beta of 1.35.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.11. Cimarex Energy had a return on equity of 13.29% and a net margin of 15.64%. The business had revenue of $456.50 million during the quarter, compared to the consensus estimate of $441.52 million. During the same period in the prior year, the company earned $0.07 EPS. Cimarex Energy’s revenue for the quarter was up 52.7% on a year-over-year basis. On average, equities research analysts forecast that Cimarex Energy Co will post $4.18 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, November 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.28%. Cimarex Energy’s dividend payout ratio is currently 12.03%.
In other Cimarex Energy news, COO Joseph R. Albi sold 2,000 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $106.11, for a total value of $212,220.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Harold R. Logan, Jr. sold 913 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $105.83, for a total value of $96,622.79. Following the completion of 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. Over the last 90 days, insiders have sold 21,299 shares of company stock valued at $2,204,271. 1.70% of the stock is owned by corporate insiders.
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Cimarex Energy 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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