Metropolitan Life Insurance Co NY lowered its stake in shares of Cimarex Energy Co (NYSE:XEC) by 3.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,170 shares of the oil and gas producer’s stock after selling 524 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Cimarex Energy were worth $727,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently bought and sold shares of XEC. Boston Partners grew its holdings in shares of Cimarex Energy by 16.6% in the 3rd quarter. Boston Partners now owns 8,128,250 shares of the oil and gas producer’s stock valued at $389,412,000 after buying an additional 1,155,738 shares during the period. Victory Capital Management Inc. grew its stake in Cimarex Energy by 33.8% in the second quarter. Victory Capital Management Inc. now owns 4,205,794 shares of the oil and gas producer’s stock valued at $249,530,000 after acquiring an additional 1,061,331 shares during the period. Diamond Hill Capital Management Inc. grew its stake in Cimarex Energy by 15.9% in the second quarter. Diamond Hill Capital Management Inc. now owns 6,937,262 shares of the oil and gas producer’s stock valued at $411,588,000 after acquiring an additional 953,479 shares during the period. Equity Investment Corp bought a new stake in shares of Cimarex Energy in the second quarter worth about $44,115,000. Finally, Nuveen Asset Management LLC bought a new stake in shares of Cimarex Energy in the second quarter worth about $33,646,000. Institutional investors own 97.80% of the company’s stock.
In other Cimarex Energy news, VP Stephen P. Bell sold 9,067 shares of Cimarex Energy stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $47.84, for a total value of $433,765.28. Also, SVP Francis Brian Barron sold 2,500 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $47.84, for a total transaction of $119,600.00. Insiders own 1.70% of the company’s stock.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). The firm had revenue of $582.31 million for the quarter, compared to analyst estimates of $575.31 million. Cimarex Energy had a return on equity of 13.02% and a net margin of 21.13%. The company’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the company earned $1.99 EPS. As a group, equities research analysts predict that Cimarex Energy Co will post 4.06 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.68%. Cimarex Energy’s dividend payout ratio (DPR) is presently 10.81%.
Several equities analysts have recently weighed in on XEC shares. KeyCorp cut their price objective on Cimarex Energy from $60.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, October 15th. ValuEngine raised Cimarex Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Barclays dropped their target price on shares of Cimarex Energy from $81.00 to $63.00 and set an “equal weight” rating on the stock in a report on Friday. Williams Capital restated a “buy” rating and set a $64.00 target price on shares of Cimarex Energy in a report on Tuesday, November 5th. Finally, Citigroup cut their price target on shares of Cimarex Energy from $85.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $67.67.
Cimarex Energy Profile
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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