Retirement Systems of Alabama decreased its holdings in shares of Cimarex Energy Co (NYSE:XEC) by 76.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,976 shares of the oil and gas producer’s stock after selling 140,432 shares during the quarter. Retirement Systems of Alabama’s holdings in Cimarex Energy were worth $4,087,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of XEC. LPL Financial LLC grew its position in shares of Cimarex Energy by 76.0% during the 1st quarter. LPL Financial LLC now owns 6,514 shares of the oil and gas producer’s stock worth $609,000 after buying an additional 2,813 shares during the period. Principal Financial Group Inc. grew its position in shares of Cimarex Energy by 0.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,739,452 shares of the oil and gas producer’s stock worth $162,639,000 after buying an additional 5,344 shares during the period. Suntrust Banks Inc. grew its position in shares of Cimarex Energy by 136.8% during the 1st quarter. Suntrust Banks Inc. now owns 5,035 shares of the oil and gas producer’s stock worth $469,000 after buying an additional 2,909 shares during the period. IFM Investors Pty Ltd boosted its stake in Cimarex Energy by 43.5% during the 2nd quarter. IFM Investors Pty Ltd now owns 4,458 shares of the oil and gas producer’s stock worth $454,000 after acquiring an additional 1,351 shares during the last quarter. Finally, Fulton Bank N.A. bought a new position in Cimarex Energy during the 2nd quarter worth approximately $320,000. Institutional investors own 98.15% of the company’s stock.
Shares of XEC opened at $83.15 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.27 and a current ratio of 1.34. Cimarex Energy Co has a twelve month low of $77.63 and a twelve month high of $130.16. The company has a market capitalization of $7.70 billion, a price-to-earnings ratio of 17.88 and a beta of 1.04.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Thursday, November 15th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.72 dividend on an annualized basis and a yield of 0.87%. This is a positive change from Cimarex Energy’s previous quarterly dividend of $0.16. Cimarex Energy’s payout ratio is presently 13.76%.
Several research firms recently weighed in on XEC. Williams Capital set a $129.00 price objective on shares of Cimarex Energy and gave the stock a “buy” rating in a research note on Wednesday. Piper Jaffray Companies reissued a “hold” rating and set a $147.00 price objective on shares of Cimarex Energy in a research note on Friday, July 20th. ValuEngine lowered shares of Cimarex Energy from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 8th. Credit Suisse Group lowered shares of Cimarex Energy from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 9th. Finally, Morgan Stanley set a $124.00 price objective on shares of Cimarex Energy and gave the stock a “buy” rating in a research note on Friday, October 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $130.67.
In related news, Director Lisa A. Stewart purchased 320 shares of the business’s stock in a transaction on Thursday, August 30th. The shares were purchased at an average price of $84.05 per share, with a total value of $26,896.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.70% 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, 2017, it had a total proved oil and gas reserves of 3.35 trillion cubic feet equivalent (Tcfe) consisting of 1.61 trillion cubic feet of natural gas, 0.82 Tcfe of oil, and 0.92 Tcfe of natural gas liquids primarily located in the Mid-Continent and Permian Basin regions.
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