Commerce Bank boosted its stake in Cimarex Energy Co (NYSE:XEC) by 28.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,482 shares of the oil and gas producer’s stock after purchasing an additional 1,000 shares during the period. Commerce Bank’s holdings in Cimarex Energy were worth $510,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Turner Investments LLC purchased a new position in shares of Cimarex Energy during the 2nd quarter valued at $100,000. Advisor Group Inc. lifted 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 purchasing an additional 60 shares in the last quarter. Global X Management Co. LLC lifted 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 purchasing an additional 162 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Cimarex Energy by 0.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 1,427 shares of the oil and gas producer’s stock valued at $134,000 after buying an additional 10 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of Cimarex Energy by 8.3% during the 2nd quarter. Pacer Advisors Inc. now owns 1,935 shares of the oil and gas producer’s stock valued at $182,000 after buying an additional 148 shares in the last quarter. 92.35% of the stock is owned by hedge funds and other institutional investors.
Cimarex Energy Co (XEC) traded down $2.65 during mid-day trading on Wednesday, reaching $110.10. 1,077,919 shares of the company traded hands, compared to its average volume of 1,048,440. The firm has a market capitalization of $10,745.43, a price-to-earnings ratio of 29.68 and a beta of 1.34. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.62. Cimarex Energy Co has a 52 week low of $89.49 and a 52 week high of $146.96.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.12. The company had revenue of $463.68 million for the quarter, compared to analyst estimates of $451.53 million. Cimarex Energy had a net margin of 20.45% and a return on equity of 16.11%. The firm’s revenue was up 38.1% on a year-over-year basis. During the same quarter last year, the business earned $0.53 earnings per share. research analysts predict that Cimarex Energy Co will post 4.35 EPS for the current year.
Several equities analysts recently commented on XEC shares. Citigroup reiterated a “buy” rating and set a $120.00 price target on shares of Cimarex Energy in a report on Friday, October 13th. Cowen set a $135.00 target price on shares of Cimarex Energy and gave the company a “buy” rating in a research report on Friday, August 25th. Stifel Nicolaus set a $169.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a report on Wednesday, August 16th. Williams Capital reaffirmed a “buy” rating and issued a $136.00 price target on shares of Cimarex Energy in a report on Wednesday, August 9th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $130.00 price target on shares of Cimarex Energy in a report on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the stock. Cimarex Energy presently has a consensus rating of “Buy” and an average price target of $137.14.
In other news, CEO Thomas E. Jorden sold 2,500 shares of Cimarex Energy stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $125.10, for a total value of $312,750.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Harold R. Logan, Jr. sold 913 shares of Cimarex Energy stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $105.83, for a total transaction of $96,622.79. Following the completion of the sale, the director now owns 9,299 shares in the company, valued at approximately $984,113.17. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,948 shares of company stock worth $3,212,315. 1.70% of the stock is owned by company insiders.
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Cimarex Energy 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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