State of Alaska Department of Revenue trimmed its position in shares of Cimarex Energy Co (NYSE:XEC) by 4.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,355 shares of the oil and gas producer’s stock after selling 807 shares during the quarter. State of Alaska Department of Revenue’s holdings in Cimarex Energy were worth $422,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its position in shares of Cimarex Energy by 66.6% during the first quarter. Tower Research Capital LLC TRC now owns 1,751 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 700 shares in the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in Cimarex Energy in the 2nd quarter valued at $66,000. AJO LP bought a new stake in Cimarex Energy in the 2nd quarter valued at $66,000. First Quadrant L P CA bought a new stake in Cimarex Energy in the 2nd quarter valued at $80,000. Finally, Private Capital Group LLC lifted its position in Cimarex Energy by 266.3% in the 2nd quarter. Private Capital Group LLC now owns 2,949 shares of the oil and gas producer’s stock valued at $81,000 after acquiring an additional 2,144 shares in the last quarter. 91.50% of the stock is currently owned by institutional investors.
Shares of XEC stock opened at $25.55 on Friday. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of -1.24, a PEG ratio of 6.96 and a beta of 2.40. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.74 and a current ratio of 0.84. The company has a 50-day simple moving average of $25.48 and a 200 day simple moving average of $25.33. Cimarex Energy Co has a 52 week low of $12.15 and a 52 week high of $55.29.
Cimarex Energy (NYSE:XEC) last announced its earnings results on Wednesday, August 5th. The oil and gas producer reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.03). The company had revenue of $249.38 million for the quarter, compared to the consensus estimate of $295.21 million. Cimarex Energy had a positive return on equity of 7.29% and a negative net margin of 104.14%. Sell-side analysts forecast that Cimarex Energy Co will post 0.55 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Thursday, November 12th. Cimarex Energy’s dividend payout ratio is currently 19.73%.
Several research firms recently commented on XEC. Wells Fargo & Company raised shares of Cimarex Energy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $35.00 to $38.00 in a research report on Monday, September 14th. Seaport Global Securities began coverage on shares of Cimarex Energy in a research report on Monday, July 27th. They issued a “buy” rating and a $38.00 price objective on the stock. KeyCorp cut their price objective on shares of Cimarex Energy from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. 140166 upgraded shares of Cimarex Energy from a “neutral” rating to a “positive” rating in a research note on Monday, August 10th. Finally, Piper Sandler upgraded shares of Cimarex Energy from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $31.00 to $43.00 in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-one have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $41.91.
In other Cimarex Energy news, VP Stephen P. Bell sold 12,500 shares of the business’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $28.09, for a total value of $351,125.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.00% of the company’s stock.
About Cimarex Energy
Cimarex Energy Co operates as an independent oil and gas exploration and production company primarily in Oklahoma, Texas, and New Mexico. As of December 31, 2018, it had a total proved reserves of 591.2 million barrels of oil equivalent, consisting of 1.59 trillion cubic feet of natural gas; 146.5 million barrels (MMBbls) of oil; and 179.4 MMBbls of natural gas liquids primarily located in the Permian Basin and Mid-Continent regions.
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