71,464 Shares in Cimarex Energy Co (NYSE:XEC) Purchased by Lagoda Investment Management L.P.
Lagoda Investment Management L.P. purchased a new position in shares of Cimarex Energy Co (NYSE:XEC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 71,464 shares of the oil and gas producer’s stock, valued at approximately $6,718,000. Cimarex Energy accounts for about 2.6% of Lagoda Investment Management L.P.’s investment portfolio, making the stock its 14th biggest position. Lagoda Investment Management L.P. owned about 0.08% of Cimarex Energy as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Cimarex Energy by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 9,899,309 shares of the oil and gas producer’s stock valued at $930,634,000 after purchasing an additional 64,420 shares during the period. BlackRock Inc. increased its position in shares of Cimarex Energy by 5.2% during the 2nd quarter. BlackRock Inc. now owns 7,512,811 shares of the oil and gas producer’s stock valued at $706,278,000 after purchasing an additional 371,390 shares during the period. State Street Corp increased its position in shares of Cimarex Energy by 5.8% during the 1st quarter. State Street Corp now owns 5,301,133 shares of the oil and gas producer’s stock valued at $633,445,000 after purchasing an additional 290,405 shares during the period. FMR LLC increased its position in shares of Cimarex Energy by 1.4% during the 2nd quarter. FMR LLC now owns 4,224,735 shares of the oil and gas producer’s stock valued at $397,166,000 after purchasing an additional 59,537 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its stake in shares of Cimarex Energy by 8.2% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 4,063,310 shares of the oil and gas producer’s stock worth $381,992,000 after acquiring an additional 307,581 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.
Cimarex Energy Co (XEC) traded up 0.26% during mid-day trading on Friday, hitting $114.86. 446,539 shares of the company traded hands. Cimarex Energy Co has a one year low of $89.49 and a one year high of $146.96. The firm has a market capitalization of $10.73 billion, a P/E ratio of 41.14 and a beta of 1.35. The firm has a 50 day moving average of $108.41 and a 200 day moving average of $106.15.
Cimarex Energy (NYSE:XEC) last posted its earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.11. The business had revenue of $456.50 million for the quarter, compared to analyst estimates of $441.52 million. Cimarex Energy had a net margin of 15.64% and a return on equity of 13.29%. Cimarex Energy’s revenue was up 52.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.07 EPS. Equities research analysts expect that Cimarex Energy Co will post $4.19 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. Cimarex Energy’s dividend payout ratio (DPR) is 12.03%.
In other Cimarex Energy news, Director Harold R. Logan, Jr. sold 913 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $105.83, for a total value of $96,622.79. Following the completion of the transaction, the director now directly owns 9,299 shares in the company, valued at approximately $984,113.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas E. Jorden sold 2,500 shares of the stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $101.67, for a total transaction of $254,175.00. The disclosure for this sale can be found here. Insiders sold a total of 21,299 shares of company stock valued at $2,204,271 in the last ninety days. 1.70% of the stock is owned by corporate insiders.
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Several brokerages have recently commented on XEC. Stifel Nicolaus set a $169.00 target price on Cimarex Energy and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Scotiabank set a $143.00 target price on Cimarex Energy and gave the company a “buy” rating in a report on Saturday, July 1st. Williams Capital reiterated a “buy” rating and issued a $136.00 price objective on shares of Cimarex Energy in a research note on Wednesday, August 9th. Citigroup Inc. dropped their price objective on Cimarex Energy from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. Finally, Cowen and Company set a $135.00 price objective on Cimarex Energy and gave the stock a “buy” rating in a research note on Friday, August 25th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $134.86.
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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