Cimarex Energy Co (XEC) Shares Sold by Pine River Capital Management L.P.
Pine River Capital Management L.P. lessened its stake in Cimarex Energy Co (NYSE:XEC) by 49.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,660 shares of the oil and gas producer’s stock after selling 56,340 shares during the quarter. Pine River Capital Management L.P. owned 0.06% of Cimarex Energy worth $5,514,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in XEC. Turner Investments LLC bought a new stake in Cimarex Energy during the second quarter worth $100,000. Global X Management Co. LLC raised its position in Cimarex Energy by 14.1% during the first quarter. Global X Management Co. LLC now owns 1,103 shares of the oil and gas producer’s stock worth $132,000 after acquiring an additional 136 shares in the last quarter. Advisor Group Inc. raised its position in Cimarex Energy by 5.3% during the second quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock worth $113,000 after acquiring an additional 60 shares in the last quarter. State of Alaska Department of Revenue raised its position in Cimarex Energy by 0.7% during the second quarter. State of Alaska Department of Revenue now owns 1,427 shares of the oil and gas producer’s stock worth $134,000 after acquiring an additional 10 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in Cimarex Energy by 11.8% during the first quarter. Parallel Advisors LLC now owns 1,785 shares of the oil and gas producer’s stock worth $211,000 after acquiring an additional 188 shares in the last quarter. Institutional investors own 90.25% of the company’s stock.
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Cimarex Energy Co (NYSE XEC) traded down 0.51% during midday trading on Friday, hitting $113.67. 635,693 shares of the stock were exchanged. The company has a market capitalization of $10.62 billion, a P/E ratio of 40.71 and a beta of 1.32. The company’s 50 day moving average is $99.58 and its 200 day moving average is $106.74. 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 quarterly earnings data 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 return on equity of 13.29% and a net margin of 15.64%. The company had revenue of $456.50 million during the quarter, compared to analyst estimates of $441.52 million. During the same quarter in the previous year, the firm earned $0.07 earnings per share. Cimarex Energy’s revenue was up 52.7% on a year-over-year basis. Analysts predict that Cimarex Energy Co will post $4.16 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be issued 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 is Tuesday, November 14th. Cimarex Energy’s payout ratio is 12.03%.
In other news, CEO Thomas E. Jorden sold 2,500 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John Lambuth sold 2,136 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $99.84, for a total value of $213,258.24. Following the transaction, the senior vice president now directly owns 106,532 shares of the company’s stock, valued at approximately $10,636,154.88. The disclosure for this sale can be found here. Insiders have sold 21,299 shares of company stock valued at $2,204,271 in the last three months. 1.70% of the stock is owned by insiders.
Several research firms have issued reports on XEC. Imperial Capital began coverage on shares of Cimarex Energy in a research report on Tuesday, September 19th. They set an “outperform” rating and a $135.00 price target on the stock. Piper Jaffray Companies dropped their price objective on shares of Cimarex Energy from $141.00 to $116.00 and set a “neutral” rating on the stock in a research report on Monday, September 18th. Jefferies Group LLC set a $98.00 price objective on shares of Cimarex Energy and gave the company a “hold” rating in a research report on Tuesday, August 29th. Cowen and Company set a $135.00 price objective on shares of Cimarex Energy and gave the company a “buy” rating in a research report on Friday, August 25th. Finally, BidaskClub raised shares of Cimarex Energy from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 24th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $134.19.
About Cimarex Energy
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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