Cimarex Energy Co (XEC) Shares Bought by ProShare Advisors LLC
ProShare Advisors LLC boosted its holdings in Cimarex Energy Co (NYSE:XEC) by 98.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,789 shares of the oil and gas producer’s stock after buying an additional 18,281 shares during the quarter. ProShare Advisors LLC’s holdings in Cimarex Energy were worth $3,459,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in XEC. Turner Investments LLC acquired a new stake in Cimarex Energy in the second quarter valued at about $100,000. Global X Management Co. LLC boosted its stake in Cimarex Energy by 14.7% in the second quarter. Global X Management Co. LLC now owns 1,265 shares of the oil and gas producer’s stock valued at $119,000 after buying an additional 162 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Cimarex Energy by 0.7% in the second quarter. State of Alaska Department of Revenue now owns 1,427 shares of the oil and gas producer’s stock valued at $134,000 after buying an additional 10 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Cimarex Energy by 8.3% in the second quarter. Pacer Advisors Inc. now owns 1,935 shares of the oil and gas producer’s stock valued at $182,000 after buying an additional 148 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in Cimarex Energy by 11.8% in the first quarter. Parallel Advisors LLC now owns 1,785 shares of the oil and gas producer’s stock valued at $211,000 after buying an additional 188 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.
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Several analysts recently weighed in on XEC shares. Williams Capital reaffirmed a “buy” rating and issued a $136.00 price objective on shares of Cimarex Energy in a research note on Wednesday, August 9th. Scotiabank set a $143.00 price target on Cimarex Energy and gave the company a “buy” rating in a research note on Saturday, July 1st. Stifel Nicolaus reissued a “buy” rating on shares of Cimarex Energy in a research note on Wednesday, June 28th. Citigroup Inc. cut their price target on Cimarex Energy from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. Finally, Cowen and Company set a $135.00 price target on Cimarex Energy and gave the company a “buy” rating in a research note on Friday, August 25th. Two 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. Cimarex Energy presently has a consensus rating of “Buy” and a consensus target price of $134.19.
In other Cimarex Energy news, COO Joseph R. Albi sold 2,000 shares of Cimarex Energy stock in a transaction on Friday, September 15th. The stock was sold at an average price of $106.16, for a total value of $212,320.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Stephen P. Bell sold 2,500 shares of Cimarex Energy stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $105.00, for a total value of $262,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 21,299 shares of company stock valued at $2,204,271. Corporate insiders own 1.70% of the company’s stock.
Cimarex Energy Co (NYSE XEC) opened at 110.85 on Friday. The stock has a market cap of $10.35 billion, a PE ratio of 39.70 and a beta of 1.32. The company’s 50 day moving average price is $99.58 and its 200 day moving average price is $106.74. Cimarex Energy Co has a 12 month low of $89.49 and a 12 month high of $146.96.
Cimarex Energy (NYSE:XEC) last posted its earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 EPS for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.11. The business had revenue of $456.50 million during the quarter, compared to analyst estimates of $441.52 million. Cimarex Energy had a return on equity of 13.29% and a net margin of 15.64%. The company’s quarterly revenue was up 52.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.07 EPS. Equities analysts forecast that Cimarex Energy Co will post $4.17 EPS for the current fiscal 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 dividend yield of 0.29%. The ex-dividend date is Tuesday, November 14th. Cimarex Energy’s payout ratio is 12.03%.
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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