BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Cimarex Energy Co (NYSE:XEC) by 95.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,959 shares of the oil and gas producer’s stock after buying an additional 47,783 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.10% of Cimarex Energy worth $9,209,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Creative Planning raised its stake in shares of Cimarex Energy by 165.7% in the first quarter. Creative Planning now owns 6,013 shares of the oil and gas producer’s stock valued at $718,000 after buying an additional 3,750 shares in the last quarter. Gulf International Bank UK Ltd raised its stake in shares of Cimarex Energy by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 29,196 shares of the oil and gas producer’s stock valued at $3,488,000 after buying an additional 340 shares in the last quarter. National Pension Service raised its stake in shares of Cimarex Energy by 0.7% in the first quarter. National Pension Service now owns 93,894 shares of the oil and gas producer’s stock valued at $11,369,000 after buying an additional 698 shares in the last quarter. DnB Asset Management AS raised its stake in shares of Cimarex Energy by 11.8% in the first quarter. DnB Asset Management AS now owns 12,359 shares of the oil and gas producer’s stock valued at $1,477,000 after buying an additional 1,300 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Cimarex Energy by 1.5% in the first quarter. Nisa Investment Advisors LLC now owns 52,648 shares of the oil and gas producer’s stock valued at $6,291,000 after buying an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 94.55% of the company’s stock.
Cimarex Energy Co (NYSE:XEC) opened at 96.30 on Friday. Cimarex Energy Co has a 12 month low of $89.49 and a 12 month high of $146.96. The firm has a 50-day moving average price of $95.45 and a 200 day moving average price of $111.61. The company has a market capitalization of $8.99 billion, a P/E ratio of 34.49 and a beta of 1.32.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, beating the Zacks’ 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 analysts’ expectations of $441.52 million. During the same period last year, the firm posted $0.07 earnings per share. The business’s revenue was up 52.7% on a year-over-year basis. Analysts expect that Cimarex Energy Co will post $4.22 EPS for the current year.
Several equities research analysts have recently issued reports on the company. UBS AG reiterated a “neutral” rating and set a $134.00 price target (up from $131.00) on shares of Cimarex Energy in a report on Friday, May 12th. Williams Capital upgraded Cimarex Energy from a “hold” rating to a “buy” rating and lifted their price target for the company from $148.00 to $160.00 in a report on Monday, May 15th. They noted that the move was a valuation call. Scotiabank set a $143.00 price target on Cimarex Energy and gave the company a “buy” rating in a report on Saturday, July 1st. Barclays PLC lifted their price target on Cimarex Energy from $112.00 to $117.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Stifel Nicolaus set a $169.00 price target on Cimarex Energy and gave the company a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $138.20.
In other news, CEO Thomas E. Jorden sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $101.67, for a total value of $254,175.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John Lambuth sold 2,136 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $99.84, for a total value of $213,258.24. Following the completion of the sale, the senior vice president now directly owns 106,532 shares of the company’s stock, valued at $10,636,154.88. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
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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