California Public Employees Retirement System Boosts Holdings in Cimarex Energy Co (XEC)
California Public Employees Retirement System grew its holdings in shares of Cimarex Energy Co (NYSE:XEC) by 6.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 195,347 shares of the oil and gas producer’s stock after acquiring an additional 12,247 shares during the quarter. California Public Employees Retirement System owned 0.21% of Cimarex Energy worth $22,205,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of XEC. Vanguard Group Inc. increased its stake in shares of Cimarex Energy by 0.7% in the second quarter. Vanguard Group Inc. now owns 9,899,309 shares of the oil and gas producer’s stock worth $930,634,000 after buying an additional 64,420 shares during the period. BlackRock Inc. increased its stake in shares of Cimarex Energy by 5.2% in the second quarter. BlackRock Inc. now owns 7,512,811 shares of the oil and gas producer’s stock worth $706,278,000 after buying an additional 371,390 shares during the period. State Street Corp increased its stake in shares of Cimarex Energy by 3.0% in the second quarter. State Street Corp now owns 5,458,745 shares of the oil and gas producer’s stock worth $513,162,000 after buying an additional 157,612 shares during the period. FMR LLC increased its stake in shares of Cimarex Energy by 1.4% in the second quarter. FMR LLC now owns 4,224,735 shares of the oil and gas producer’s stock worth $397,166,000 after buying an additional 59,537 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of Cimarex Energy by 41.8% in 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 buying an additional 478,543 shares during the period. 92.03% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently commented on XEC. Jefferies Group reaffirmed a “hold” rating and issued a $117.00 target price on shares of Cimarex Energy in a research note on Wednesday. Seaport Global Securities raised shares of Cimarex Energy from a “sell” rating to a “buy” rating in a research note on Tuesday. Robert W. Baird began coverage on shares of Cimarex Energy in a research note on Tuesday. They issued an “outperform” rating and a $137.00 target price on the stock. Credit Suisse Group began coverage on shares of Cimarex Energy in a research report on Monday, December 11th. They set an “outperform” rating and a $140.00 price objective on the stock. Finally, Scotiabank set a $143.00 price objective on shares of Cimarex Energy and gave the company a “buy” rating in a research report on Saturday, November 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the stock. Cimarex Energy presently has an average rating of “Buy” and a consensus price target of $136.71.
In related news, CEO Thomas E. Jorden sold 2,500 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $125.10, for a total value of $312,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director L Paul Teague sold 3,248 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $125.03, for a total transaction of $406,097.44. Following the completion of the sale, the director now directly owns 41,146 shares of the company’s stock, valued at $5,144,484.38. The disclosure for this sale can be found here. Insiders have sold a total of 29,764 shares of company stock valued at $3,496,934 in the last ninety days. Insiders own 1.70% of the company’s stock.
Cimarex Energy Co (NYSE:XEC) opened at $114.88 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.42 and a current ratio of 1.51. The stock has a market cap of $10,827.35, a PE ratio of 29.91 and a beta of 1.34. Cimarex Energy Co has a one year low of $89.49 and a one year high of $144.30.
Cimarex Energy (NYSE:XEC) last posted its earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.12. Cimarex Energy had a net margin of 20.45% and a return on equity of 16.11%. The business had revenue of $463.68 million for the quarter, compared to analysts’ expectations of $451.53 million. During the same quarter in the prior year, the business earned $0.53 EPS. The business’s revenue for the quarter was up 38.1% compared to the same quarter last year. equities research analysts forecast that Cimarex Energy Co will post 4.36 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend is Wednesday, February 14th. Cimarex Energy’s payout ratio is currently 8.51%.
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Cimarex Energy Company 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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