Cimarex Energy Co (XEC) Position Trimmed by Earnest Partners LLC
Earnest Partners LLC decreased its holdings in shares of Cimarex Energy Co (NYSE:XEC) by 3.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 168,849 shares of the oil and gas producer’s stock after selling 6,382 shares during the quarter. Earnest Partners LLC owned about 0.18% of Cimarex Energy worth $15,873,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Cimarex Energy by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 9,899,309 shares of the oil and gas producer’s stock valued at $930,634,000 after purchasing an additional 64,420 shares during the period. BlackRock Inc. boosted its stake in Cimarex Energy by 5.2% during the 2nd quarter. BlackRock Inc. now owns 7,512,811 shares of the oil and gas producer’s stock valued at $706,278,000 after purchasing an additional 371,390 shares during the period. State Street Corp boosted its stake in Cimarex Energy by 3.0% during the 2nd quarter. State Street Corp now owns 5,458,745 shares of the oil and gas producer’s stock valued at $513,162,000 after purchasing an additional 157,612 shares during the period. FMR LLC boosted its stake in Cimarex Energy by 1.4% during the 2nd quarter. FMR LLC now owns 4,224,735 shares of the oil and gas producer’s stock valued at $397,166,000 after purchasing an additional 59,537 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its stake in Cimarex Energy by 8.2% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 4,063,310 shares of the oil and gas producer’s stock valued at $381,992,000 after purchasing an additional 307,581 shares during the period. Hedge funds and other institutional investors own 90.25% of the company’s stock.
Shares of Cimarex Energy Co (NYSE XEC) traded up 0.368% during trading on Monday, hitting $116.065. The stock had a trading volume of 72,965 shares. Cimarex Energy Co has a 12-month low of $89.49 and a 12-month high of $146.96. The stock’s 50-day moving average is $106.09 and its 200-day moving average is $106.24. The stock has a market capitalization of $10.84 billion, a P/E ratio of 41.571 and a beta of 1.35.
Cimarex Energy (NYSE:XEC) last released its earnings results 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 firm had revenue of $456.50 million during the quarter, compared to analysts’ expectations of $441.52 million. During the same period in the prior year, the company earned $0.07 earnings per share. The company’s quarterly revenue was up 52.7% on a year-over-year basis. Analysts predict that Cimarex Energy Co will post $4.18 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend is Tuesday, November 14th. Cimarex Energy’s payout ratio is presently 12.03%.
In other Cimarex Energy news, CEO Thomas E. Jorden sold 2,500 shares of the company’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Joseph R. Albi sold 2,000 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $106.16, for a total value of $212,320.00. The disclosure for this sale can be found here. Insiders have sold 21,299 shares of company stock valued at $2,204,271 over the last 90 days. Corporate insiders own 1.70% of the company’s stock.
Several analysts recently weighed in on the company. Stifel Nicolaus set a $168.00 target price on Cimarex Energy and gave the company a “buy” rating in a research note on Thursday. Scotiabank set a $143.00 target price on Cimarex Energy and gave the company a “buy” rating in a research note on Saturday, July 1st. Williams Capital restated a “buy” rating and set a $136.00 target price on shares of Cimarex Energy in a research note on Wednesday, August 9th. BidaskClub downgraded Cimarex Energy from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Finally, Jefferies Group LLC set a $98.00 target price on Cimarex Energy and gave the company a “hold” rating in a research note on Tuesday, August 29th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the stock. Cimarex Energy has an average rating of “Buy” and an average price target of $134.14.
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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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