Cimarex Energy Co (XEC) Shares Bought by Comerica Bank
Comerica Bank increased its holdings in Cimarex Energy Co (NYSE:XEC) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,950 shares of the oil and gas producer’s stock after acquiring an additional 437 shares during the period. Comerica Bank’s holdings in Cimarex Energy were worth $3,391,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Turner Investments LLC acquired a new position in Cimarex Energy in the 2nd quarter worth about $100,000. Advisor Group Inc. increased its position in Cimarex Energy by 5.3% in the 2nd quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock worth $113,000 after purchasing an additional 60 shares during the last quarter. Global X Management Co. LLC increased its position in Cimarex Energy by 14.7% in the 2nd quarter. Global X Management Co. LLC now owns 1,265 shares of the oil and gas producer’s stock worth $119,000 after purchasing an additional 162 shares during the last quarter. State of Alaska Department of Revenue increased its position in Cimarex Energy by 0.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 1,427 shares of the oil and gas producer’s stock worth $134,000 after purchasing an additional 10 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Cimarex Energy in the 3rd quarter worth about $206,000. 93.44% of the stock is owned by hedge funds and other institutional investors.
Cimarex Energy Co (NYSE XEC) traded up $1.11 on Monday, reaching $116.52. The company’s stock had a trading volume of 339,700 shares, compared to its average volume of 1,055,889. The firm has a market cap of $11,100.00, a price-to-earnings ratio of 30.66 and a beta of 1.35. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.51 and a quick ratio of 1.42. Cimarex Energy Co has a 12-month low of $89.49 and a 12-month high of $146.96.
Cimarex Energy (NYSE:XEC) last released its earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.12. The firm had revenue of $463.68 million for the quarter, compared to analyst estimates of $451.53 million. Cimarex Energy had a return on equity of 16.11% and a net margin of 20.45%. The company’s revenue was up 38.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 EPS. equities research analysts expect that Cimarex Energy Co will post 4.35 EPS for the current 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 issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date is Tuesday, November 14th. Cimarex Energy’s dividend payout ratio (DPR) is currently 8.00%.
In other Cimarex Energy news, VP Joseph R. Albi sold 1,750 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $114.78, for a total value of $200,865.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Krista L. Johnson sold 5,341 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $116.46, for a total value of $622,012.86. Following the completion of the sale, the vice president now directly owns 42,938 shares in the company, valued at approximately $5,000,559.48. The disclosure for this sale can be found here. Insiders sold a total of 30,448 shares of company stock worth $3,468,665 in the last ninety days. Insiders own 1.70% of the company’s stock.
XEC has been the topic of several research reports. 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 stock 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 stock 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 stock a “buy” rating in a research report on Thursday, October 5th. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $120.00 target price on shares of Cimarex Energy in a research report on Friday, October 13th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $137.14.
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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