DFT Energy LP continued to hold its stake in shares of Cimarex Energy Co (NYSE:XEC) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 115,000 shares of the oil and gas producer’s stock at the end of the first quarter. Cimarex Energy accounts for about 7.2% of DFT Energy LP’s holdings, making the stock its 4th largest position. DFT Energy LP owned about 0.12% of Cimarex Energy worth $13,741,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of XEC. Norges Bank purchased a new position in Cimarex Energy during the fourth quarter valued at $112,157,000. Boston Partners increased its position in Cimarex Energy by 109.3% in the first quarter. Boston Partners now owns 1,447,104 shares of the oil and gas producer’s stock valued at $172,915,000 after buying an additional 755,553 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in Cimarex Energy by 15.0% in the first quarter. Diamond Hill Capital Management Inc. now owns 3,755,729 shares of the oil and gas producer’s stock valued at $448,772,000 after buying an additional 489,278 shares in the last quarter. Janus Capital Management LLC increased its position in Cimarex Energy by 172.1% in the fourth quarter. Janus Capital Management LLC now owns 468,089 shares of the oil and gas producer’s stock valued at $63,613,000 after buying an additional 296,060 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Cimarex Energy by 31.3% in the first quarter. Bank of New York Mellon Corp now owns 1,074,839 shares of the oil and gas producer’s stock valued at $128,432,000 after buying an additional 255,963 shares in the last quarter. 93.12% of the stock is owned by hedge funds and other institutional investors.
Shares of Cimarex Energy Co (XEC) traded up 0.60% during midday trading on Tuesday, reaching $94.01. The company’s stock had a trading volume of 1,847,373 shares. The firm’s market capitalization is $8.78 billion. The company’s 50-day moving average price is $109.86 and its 200 day moving average price is $124.39. Cimarex Energy Co has a 1-year low of $91.34 and a 1-year high of $146.96.
Cimarex Energy (NYSE:XEC) last released its earnings results on Wednesday, May 10th. The oil and gas producer reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.20. Cimarex Energy had a positive return on equity of 9.03% and a negative net margin of 7.78%. The company had revenue of $447.20 million for the quarter, compared to the consensus estimate of $423.62 million. During the same quarter last year, the business posted ($0.40) EPS. Cimarex Energy’s quarterly revenue was up 85.9% compared to the same quarter last year. On average, equities research analysts forecast that Cimarex Energy Co will post $4.66 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend is Friday, August 11th. Cimarex Energy’s dividend payout ratio is presently -25.20%.
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Several research firms have weighed in on XEC. Wolfe Research downgraded Cimarex Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday, June 15th. Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $161.00 target price on shares of Cimarex Energy in a research report on Wednesday, June 7th. Credit Suisse Group began coverage on Cimarex Energy in a research report on Thursday, June 1st. They issued an “outperform” rating and a $138.00 target price for the company. Goldman Sachs Group, Inc. (The) cut Cimarex Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $163.00 to $133.00 in a research note on Tuesday, May 30th. Finally, FBR & Co set a $141.00 price objective on Cimarex Energy and gave the company a “buy” rating in a research note on Thursday, May 18th. Eleven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $144.29.
In other Cimarex Energy news, VP Stephen P. Bell sold 5,000 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $117.24, for a total transaction of $586,200.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director L Paul Teague sold 1,038 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $120.00, for a total value of $124,560.00. Following the transaction, the director now directly owns 44,394 shares in the company, valued at approximately $5,327,280. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,538 shares of company stock worth $1,001,760. 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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