Tricadia Capital Management LLC Trims Position in Cimarex Energy Co (XEC)
Tricadia Capital Management LLC decreased its stake in shares of Cimarex Energy Co (NYSE:XEC) by 33.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,880 shares of the oil and gas producer’s stock after selling 2,440 shares during the period. Cimarex Energy makes up 0.3% of Tricadia Capital Management LLC’s holdings, making the stock its 23rd biggest holding. Tricadia Capital Management LLC’s holdings in Cimarex Energy were worth $595,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. IFM Investors Pty Ltd acquired a new position in Cimarex Energy during the 3rd quarter worth about $330,000. Trust Co. of Vermont lifted its position in Cimarex Energy by 6.9% during the 3rd quarter. Trust Co. of Vermont now owns 26,240 shares of the oil and gas producer’s stock valued at $2,983,000 after purchasing an additional 1,692 shares during the period. Commerce Bank lifted its position in Cimarex Energy by 28.7% during the 3rd quarter. Commerce Bank now owns 4,482 shares of the oil and gas producer’s stock valued at $510,000 after purchasing an additional 1,000 shares during the period. Colony Group LLC lifted its position in Cimarex Energy by 38.7% during the 3rd quarter. Colony Group LLC now owns 22,154 shares of the oil and gas producer’s stock valued at $2,518,000 after purchasing an additional 6,177 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its position in Cimarex Energy by 8.2% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 402,146 shares of the oil and gas producer’s stock valued at $45,712,000 after purchasing an additional 30,646 shares during the period. Institutional investors and hedge funds own 93.28% of the company’s stock.
In related news, CEO Thomas E. Jorden sold 2,500 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $122.88, for a total transaction of $307,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Francis Brian Barron sold 3,000 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $112.59, for a total value of $337,770.00. Following the sale, the senior vice president now directly owns 87,723 shares of the company’s stock, valued at $9,876,732.57. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,820 shares of company stock valued at $2,622,880. 1.70% of the stock is currently owned by company insiders.
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 $0.08 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.32%. Cimarex Energy’s dividend payout ratio (DPR) is presently 8.51%.
A number of research analysts have issued reports on the stock. KeyCorp restated a “buy” rating and set a $130.00 target price on shares of Cimarex Energy in a research report on Friday, October 20th. Seaport Global Securities upgraded shares of Cimarex Energy from a “sell” rating to a “buy” rating in a research report on Tuesday, December 19th. Deutsche Bank assumed coverage on shares of Cimarex Energy in a research report on Thursday, February 1st. They set a “buy” rating and a $164.00 target price on the stock. SunTrust Banks upgraded shares of Cimarex Energy from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research report on Tuesday, February 6th. Finally, Barclays upped their target price on shares of Cimarex Energy from $132.00 to $141.00 and gave the company an “overweight” rating in a research report on Monday, November 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $141.38.
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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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