Mitchell Group Inc. decreased its holdings in Cimarex Energy Co (NYSE:XEC) by 10.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 287,685 shares of the oil and gas producer’s stock after selling 33,405 shares during the period. Cimarex Energy comprises approximately 5.2% of Mitchell Group Inc.’s investment portfolio, making the stock its 4th biggest holding. Mitchell Group Inc. owned about 0.30% of Cimarex Energy worth $32,701,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. AE Wealth Management LLC bought a new position in Cimarex Energy in the third quarter worth approximately $246,000. Stephens Inc. AR acquired a new position in shares of Cimarex Energy during the third quarter worth $270,000. Ameriprise Financial Inc. increased its position in shares of Cimarex Energy by 41.8% during the third quarter. Ameriprise Financial Inc. now owns 1,623,569 shares of the oil and gas producer’s stock worth $184,549,000 after purchasing an additional 478,543 shares in the last quarter. Commerce Bank increased its position in shares of Cimarex Energy by 28.7% during the third quarter. Commerce Bank now owns 4,482 shares of the oil and gas producer’s stock worth $510,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Cimarex Energy by 6.3% during the third quarter. Russell Investments Group Ltd. now owns 84,212 shares of the oil and gas producer’s stock worth $9,571,000 after purchasing an additional 4,967 shares in the last quarter. 93.44% of the stock is owned by institutional investors.
A number of equities analysts have recently issued reports on XEC shares. KeyCorp reaffirmed a “buy” rating on shares of Cimarex Energy in a research report on Wednesday, November 8th. Morgan Stanley upped their target price on Cimarex Energy from $138.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. Williams Capital upped their target price on Cimarex Energy from $132.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, October 18th. Stifel Nicolaus set a $168.00 target price on Cimarex Energy and gave the company a “buy” rating in a research report on Thursday, October 5th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $120.00 target price on shares of Cimarex Energy in a research report on Friday, October 13th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $137.05.
In related news, VP Stephen P. Bell sold 2,500 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $102.54, for a total transaction of $256,350.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Harold R. Logan, Jr. sold 913 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $105.83, for a total transaction of $96,622.79. Following the sale, the director now directly owns 9,299 shares in the company, valued at approximately $984,113.17. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,698 shares of company stock worth $3,267,800. Insiders own 1.70% of the company’s stock.
Shares of Cimarex Energy Co (NYSE:XEC) traded down $1.29 during trading hours on Tuesday, hitting $115.28. 582,500 shares of the stock traded hands, compared to its average volume of 1,064,102. The stock has a market capitalization of $10,920.00, a P/E ratio of 30.68 and a beta of 1.35. 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 1-year low of $89.49 and a 1-year high of $146.96.
Cimarex Energy (NYSE:XEC) last issued its earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.12. The business had revenue of $463.68 million for the quarter, compared to the consensus estimate of $451.53 million. Cimarex Energy had a net margin of 20.45% and a return on equity of 16.11%. The business’s quarterly revenue was up 38.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 earnings per share. sell-side analysts forecast that Cimarex Energy Co will post 4.33 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.28%. The ex-dividend date is Tuesday, November 14th. Cimarex Energy’s payout ratio is 8.00%.
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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