Cimarex Energy Co (XEC) Shares Sold by Mik Capital LLC
Mik Capital LLC reduced its position in shares of Cimarex Energy Co (NYSE:XEC) by 43.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 320,227 shares of the oil and gas producer’s stock after selling 246,094 shares during the period. Cimarex Energy makes up 6.8% of Mik Capital LLC’s investment portfolio, making the stock its 8th largest position. Mik Capital LLC owned 0.34% of Cimarex Energy worth $30,105,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Cimarex Energy by 2.8% in the first quarter. Vanguard Group Inc. now owns 9,834,889 shares of the oil and gas producer’s stock worth $1,175,170,000 after buying an additional 269,198 shares during the period. BlackRock Inc. raised its stake in Cimarex Energy by 3,127.3% in the first quarter. BlackRock Inc. now owns 7,141,421 shares of the oil and gas producer’s stock worth $853,329,000 after buying an additional 6,920,140 shares during the period. State Street Corp raised its stake in Cimarex Energy by 5.8% in the first quarter. State Street Corp now owns 5,301,133 shares of the oil and gas producer’s stock worth $633,445,000 after buying an additional 290,405 shares during the period. Diamond Hill Capital Management Inc. raised its stake in Cimarex Energy by 8.2% in the second quarter. Diamond Hill Capital Management Inc. now owns 4,063,310 shares of the oil and gas producer’s stock worth $381,992,000 after buying an additional 307,581 shares during the period. Finally, Artisan Partners Limited Partnership raised its stake in Cimarex Energy by 3.4% in the first quarter. Artisan Partners Limited Partnership now owns 1,559,704 shares of the oil and gas producer’s stock worth $186,369,000 after buying an additional 51,470 shares during the period. Institutional investors and hedge funds own 91.30% of the company’s stock.
Cimarex Energy Co (NYSE:XEC) opened at 99.57 on Tuesday. The firm has a market capitalization of $9.30 billion, a PE ratio of 35.66 and a beta of 1.32. The firm’s 50-day moving average price is $96.19 and its 200-day moving average price is $110.12. Cimarex Energy Co has a 1-year low of $89.49 and a 1-year high of $146.96.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.11. Cimarex Energy had a net margin of 15.64% and a return on equity of 13.29%. The company had revenue of $456.50 million for the quarter, compared to analyst estimates of $441.52 million. During the same quarter in the prior year, the business posted $0.07 EPS. Cimarex Energy’s quarterly revenue was up 52.7% on a year-over-year basis. On average, equities research analysts predict that Cimarex Energy Co will post $4.17 EPS for the current fiscal year.
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A number of equities research analysts have recently issued reports on XEC shares. Barclays PLC upped their price target on Cimarex Energy from $112.00 to $117.00 and gave the company an “overweight” rating in a research report on Tuesday, August 15th. KLR Group restated a “buy” rating and issued a $151.00 price target (up from $149.00) on shares of Cimarex Energy in a research report on Wednesday, May 17th. BidaskClub upgraded Cimarex Energy from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 24th. Jefferies Group LLC restated a “hold” rating and issued a $119.00 price target on shares of Cimarex Energy in a research report on Thursday, July 6th. Finally, FBR & Co set a $141.00 price target on Cimarex Energy and gave the company a “buy” rating in a research report on Thursday, May 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $138.05.
In other news, CEO Thomas E. Jorden sold 2,500 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $101.67, for a total transaction of $254,175.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP John Lambuth sold 2,136 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $99.84, for a total transaction of $213,258.24. Following the transaction, the senior vice president now owns 106,532 shares in the company, valued at approximately $10,636,154.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,386 shares of company stock worth $739,738. 1.70% of the stock is currently owned by company insiders.
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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