Castleark Management LLC Has $2.54 Million Stake in Cimarex Energy Co (XEC)
Castleark Management LLC lessened its stake in Cimarex Energy Co (NYSE:XEC) by 56.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,960 shares of the oil and gas producer’s stock after selling 34,540 shares during the quarter. Castleark Management LLC’s holdings in Cimarex Energy were worth $2,535,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of XEC. PNC Financial Services Group Inc. lifted its holdings in shares of Cimarex Energy by 6.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 12,469 shares of the oil and gas producer’s stock valued at $1,490,000 after buying an additional 802 shares during the period. Global X Management Co. LLC lifted its holdings in shares of Cimarex Energy by 14.1% in the 1st quarter. Global X Management Co. LLC now owns 1,103 shares of the oil and gas producer’s stock valued at $132,000 after buying an additional 136 shares during the period. MARSHALL WACE ASIA Ltd acquired a new position in shares of Cimarex Energy in the 1st quarter valued at about $2,458,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Cimarex Energy in the 1st quarter valued at about $230,000. Finally, Morgan Stanley lifted its holdings in shares of Cimarex Energy by 154.8% in the 1st quarter. Morgan Stanley now owns 382,356 shares of the oil and gas producer’s stock valued at $45,688,000 after buying an additional 232,290 shares during the period. 90.06% of the stock is owned by institutional investors and hedge funds.
In related news, Director Harold R. Logan, Jr. sold 913 shares of Cimarex Energy stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $105.83, for a total transaction of $96,622.79. Following the completion of the transaction, the director now directly owns 9,299 shares in the company, valued at approximately $984,113.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas E. Jorden sold 2,500 shares of Cimarex Energy stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $101.67, for a total value of $254,175.00. The disclosure for this sale can be found here. Insiders have sold a total of 21,299 shares of company stock valued at $2,204,271 over the last 90 days. Insiders own 1.70% of the company’s stock.
XEC has been the subject of several analyst reports. Jefferies Group LLC reissued a “hold” rating and issued a $119.00 price objective on shares of Cimarex Energy in a report on Thursday, July 6th. Stifel Nicolaus reissued a “buy” rating on shares of Cimarex Energy in a report on Wednesday, June 28th. Citigroup Inc. decreased their price objective on Cimarex Energy from $150.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, July 13th. Piper Jaffray Companies decreased their price objective 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 raised Cimarex Energy from a “strong sell” rating to a “sell” rating in a report on Thursday, August 24th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $134.86.
Shares of Cimarex Energy Co (NYSE:XEC) opened at 116.50 on Monday. Cimarex Energy Co has a 1-year low of $89.49 and a 1-year high of $146.96. The firm’s 50-day moving average price is $108.67 and its 200 day moving average price is $105.94. The stock has a market capitalization of $10.88 billion, a price-to-earnings ratio of 41.73 and a beta of 1.35.
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 (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.11. Cimarex Energy had a net margin of 15.64% and a return on equity of 13.29%. The company had revenue of $456.50 million during the quarter, compared to the consensus estimate of $441.52 million. During the same period last year, the firm earned $0.07 EPS. The company’s revenue for the quarter was up 52.7% on a year-over-year basis. Equities research analysts expect that Cimarex Energy Co will post $4.19 earnings per share for the current fiscal year.
The business 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 of this dividend 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%.
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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