State of Wisconsin Investment Board raised its holdings in shares of Cimarex Energy Co (NYSE:XEC) by 10.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,832 shares of the oil and gas producer’s stock after buying an additional 13,380 shares during the period. State of Wisconsin Investment Board owned about 0.15% of Cimarex Energy worth $16,122,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the business. State Board of Administration of Florida Retirement System lifted its position in Cimarex Energy by 0.9% during the third quarter. State Board of Administration of Florida Retirement System now owns 138,140 shares of the oil and gas producer’s stock valued at $15,702,000 after buying an additional 1,214 shares in the last quarter. Andra AP fonden lifted its position in shares of Cimarex Energy by 7.1% during the third quarter. Andra AP fonden now owns 28,800 shares of the oil and gas producer’s stock worth $3,274,000 after purchasing an additional 1,900 shares in the last quarter. SignalPoint Asset Management LLC acquired a new position in shares of Cimarex Energy during the third quarter worth $299,000. Artemis Investment Management LLP acquired a new position in shares of Cimarex Energy during the third quarter worth $17,802,000. Finally, Public Employees Retirement Association of Colorado lifted its position in shares of Cimarex Energy by 26.5% during the third quarter. Public Employees Retirement Association of Colorado now owns 146,809 shares of the oil and gas producer’s stock worth $16,688,000 after purchasing an additional 30,751 shares in the last quarter. 91.05% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cimarex Energy Co (XEC) opened at $121.87 on Tuesday. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.62. Cimarex Energy Co has a 12 month low of $89.49 and a 12 month high of $146.96. The firm has a market cap of $11,912.38, a price-to-earnings ratio of 32.91 and a beta of 1.35.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 EPS for the quarter, topping the consensus estimate of $0.97 by $0.12. The business had revenue of $463.68 million during the quarter, compared to analyst estimates of $451.53 million. Cimarex Energy had a net margin of 20.45% and a return on equity of 16.11%. The company’s quarterly revenue was up 38.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 earnings per share. equities research analysts forecast that Cimarex Energy Co will post 4.31 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders 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 0.26%. Cimarex Energy’s dividend payout ratio is currently 8.51%.
In other news, VP Joseph R. Albi sold 2,750 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $99.02, for a total transaction of $272,305.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director L Paul Teague sold 3,248 shares of the company’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $125.03, for a total transaction of $406,097.44. Following the transaction, the director now owns 41,146 shares of the company’s stock, valued at approximately $5,144,484.38. The disclosure for this sale can be found here. Insiders have sold 26,107 shares of company stock valued at $2,918,092 in the last 90 days. Insiders own 1.70% of the company’s stock.
A number of research analysts have recently commented on XEC shares. Morgan Stanley boosted their target price on shares of Cimarex Energy from $138.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th. Citigroup Inc. reduced their target price on shares of Cimarex Energy from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. Stifel Nicolaus set a $168.00 target price on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Thursday, October 5th. KeyCorp reissued a “buy” rating and set a $130.00 target price on shares of Cimarex Energy in a research report on Friday, October 20th. Finally, Piper Jaffray Companies reduced their target price on shares of Cimarex Energy from $141.00 to $116.00 and set a “neutral” rating on the stock in a research report on Monday, September 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Cimarex Energy currently has an average rating of “Buy” and a consensus price target of $135.81.
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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