Neuberger Berman Group LLC Has $47.23 Million Stake in Cimarex Energy Co (XEC)
Neuberger Berman Group LLC trimmed its holdings in Cimarex Energy Co (NYSE:XEC) by 0.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 415,477 shares of the oil and gas producer’s stock after selling 3,291 shares during the quarter. Neuberger Berman Group LLC owned about 0.44% of Cimarex Energy worth $47,227,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Turner Investments LLC acquired a new position in Cimarex Energy in the second quarter valued at approximately $100,000. Advisor Group Inc. boosted its holdings in Cimarex Energy by 5.3% in the second quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock valued at $113,000 after purchasing an additional 60 shares in the last quarter. Global X Management Co. LLC boosted its holdings 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 purchasing an additional 162 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Cimarex Energy in the third quarter valued at approximately $206,000. Finally, Pacer Advisors Inc. boosted its holdings 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 purchasing an additional 148 shares in the last quarter. 92.03% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Thomas E. Jorden sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $125.10, for a total transaction of $312,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director L Paul Teague sold 3,248 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $125.03, for a total value of $406,097.44. Following the sale, the director now owns 41,146 shares of the company’s stock, valued at approximately $5,144,484.38. The disclosure for this sale can be found here. Insiders have sold 29,764 shares of company stock valued at $3,496,934 in the last 90 days. Company insiders own 1.70% of the company’s stock.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.12. Cimarex Energy had a return on equity of 16.11% and a net margin of 20.45%. The business had revenue of $463.68 million during the quarter, compared to analysts’ expectations of $451.53 million. During the same quarter in the prior year, the business earned $0.53 earnings per share. The company’s quarterly revenue was up 38.1% compared to the same quarter last year. sell-side analysts predict that Cimarex Energy Co will post 4.36 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be paid 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 Wednesday, February 14th. Cimarex Energy’s dividend payout ratio (DPR) is presently 8.51%.
XEC has been the subject of a number of research analyst reports. Morgan Stanley upped their price target on Cimarex Energy from $138.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, October 18th. Stifel Nicolaus set a $168.00 price target on Cimarex Energy and gave the company a “buy” rating in a report on Thursday, October 5th. KeyCorp reaffirmed a “buy” rating and issued a $130.00 price target on shares of Cimarex Energy in a report on Friday, October 20th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $118.00 price target on shares of Cimarex Energy in a report on Friday, November 24th. Finally, Scotiabank set a $143.00 price target on Cimarex Energy and gave the company a “buy” rating in a report on Saturday, November 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $136.62.
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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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