Gabelli Funds LLC lifted its position in Cimarex Energy Co (NYSE:XEC) by 102.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,600 shares of the oil and gas producer’s stock after acquiring an additional 16,000 shares during the quarter. Gabelli Funds LLC’s holdings in Cimarex Energy were worth $3,592,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Turner Investments LLC purchased a new position in Cimarex Energy in the 2nd quarter worth about $100,000. Advisor Group Inc. increased its stake in Cimarex Energy by 5.3% in the 2nd quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock worth $113,000 after buying an additional 60 shares during the period. Global X Management Co. LLC increased its stake in Cimarex Energy by 14.7% in the 2nd quarter. Global X Management Co. LLC now owns 1,265 shares of the oil and gas producer’s stock worth $119,000 after buying an additional 162 shares during the period. State of Alaska Department of Revenue increased its stake in Cimarex Energy by 0.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 1,427 shares of the oil and gas producer’s stock worth $134,000 after buying an additional 10 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in Cimarex Energy in the 3rd quarter worth about $206,000. Hedge funds and other institutional investors own 91.05% of the company’s stock.
Cimarex Energy Co (XEC) opened at $121.87 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.51 and a quick ratio of 1.42. Cimarex Energy Co has a 12-month low of $89.49 and a 12-month high of $146.96. The stock has a market cap of $11,912.38, a P/E ratio of 32.91 and a beta of 1.35.
Cimarex Energy (NYSE:XEC) last released its earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.12. The company had revenue of $463.68 million during the quarter, compared to analysts’ expectations of $451.53 million. Cimarex Energy had a net margin of 20.45% and a return on equity of 16.11%. Cimarex Energy’s revenue for the quarter was up 38.1% on a year-over-year basis. During the same period last year, the business earned $0.53 EPS. research analysts forecast that Cimarex Energy Co will post 4.31 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend is Tuesday, November 14th. Cimarex Energy’s dividend payout ratio (DPR) is presently 8.51%.
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In related news, VP Stephen P. Bell sold 3,696 shares of Cimarex Energy stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $125.11, for a total value of $462,406.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas E. Jorden sold 2,500 shares of Cimarex Energy stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $125.10, for a total transaction of $312,750.00. The disclosure for this sale can be found here. Insiders sold a total of 26,107 shares of company stock valued at $2,918,092 over the last quarter. 1.70% of the stock is owned by company insiders.
Several research analysts recently commented on XEC shares. Citigroup Inc. reduced their price target on shares of Cimarex Energy from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. BidaskClub raised shares of Cimarex Energy from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Williams Capital reaffirmed a “buy” rating and issued a $136.00 price target on shares of Cimarex Energy in a research note on Wednesday, August 9th. Morgan Stanley raised their price target on shares of Cimarex Energy from $135.00 to $138.00 and gave the stock an “overweight” rating in a research note on Thursday, August 10th. Finally, Barclays PLC raised their price target on shares of Cimarex Energy from $112.00 to $117.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 15th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $135.81.
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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