Bridgefront Capital LLC Makes New Investment in Cimarex Energy Co. (NYSE:XEC)

Bridgefront Capital LLC acquired a new position in shares of Cimarex Energy Co. (NYSE:XEC) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,378 shares of the oil and gas producer’s stock, valued at approximately $462,000.

A number of other hedge funds also recently modified their holdings of XEC. BlackRock Inc. increased its holdings in shares of Cimarex Energy by 14.8% during the first quarter. BlackRock Inc. now owns 9,956,077 shares of the oil and gas producer’s stock worth $591,293,000 after purchasing an additional 1,283,492 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Cimarex Energy by 0.9% during the second quarter. Bank of New York Mellon Corp now owns 1,477,257 shares of the oil and gas producer’s stock worth $107,028,000 after purchasing an additional 12,595 shares during the period. Versor Investments LP bought a new position in shares of Cimarex Energy during the second quarter worth approximately $97,370,000. Goldman Sachs Group Inc. increased its holdings in shares of Cimarex Energy by 18.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,269,982 shares of the oil and gas producer’s stock worth $75,425,000 after purchasing an additional 200,598 shares during the period. Finally, Nuveen Asset Management LLC increased its holdings in shares of Cimarex Energy by 141.8% during the first quarter. Nuveen Asset Management LLC now owns 868,165 shares of the oil and gas producer’s stock worth $51,561,000 after purchasing an additional 509,107 shares during the period. Hedge funds and other institutional investors own 91.52% of the company’s stock.

In other news, EVP John Lambuth sold 10,000 shares of the business’s stock in a transaction dated Friday, August 27th. The shares were sold at an average price of $63.75, for a total transaction of $637,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.

Shares of NYSE XEC opened at $81.39 on Friday. The firm’s 50-day moving average price is $67.52 and its 200-day moving average price is $67.17. Cimarex Energy Co. has a 1-year low of $22.39 and a 1-year high of $81.90. The firm has a market capitalization of $8.37 billion, a P/E ratio of -239.38, a P/E/G ratio of 0.49 and a beta of 2.60. The company has a current ratio of 1.23, a quick ratio of 1.20 and a debt-to-equity ratio of 1.13.

Cimarex Energy (NYSE:XEC) last announced its quarterly earnings data on Thursday, August 5th. The oil and gas producer reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.22. The firm had revenue of $712.38 million for the quarter, compared to analyst estimates of $616.83 million. Cimarex Energy had a negative net margin of 1.19% and a positive return on equity of 34.56%. The business’s quarterly revenue was up 185.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.51) earnings per share. Equities research analysts forecast that Cimarex Energy Co. will post 8.88 EPS for the current year.

A number of research analysts recently issued reports on the stock. UBS Group cut shares of Cimarex Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $91.00 to $83.00 in a research note on Tuesday, June 15th. Bank of America raised shares of Cimarex Energy from a “neutral” rating to a “buy” rating in a research note on Monday, June 21st. Citigroup lifted their price objective on shares of Cimarex Energy from $84.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, July 23rd. Barclays cut shares of Cimarex Energy from an “overweight” rating to an “equal weight” rating and set a $72.00 price objective on the stock. in a research note on Thursday, June 3rd. Finally, US Capital Advisors cut shares of Cimarex Energy from a “buy” rating to a “hold” rating in a research note on Thursday, July 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $77.67.

About Cimarex Energy

Cimarex Energy Co is an independent oil and gas exploration and production company. Its activities include drilling, completing and operating wells. It operates through the following areas: Permian Basin, Mid-Continent, and Others in Oklahoma, Texas and New Mexico. The company was founded by F. H. Merelli in February 2002 and is headquartered in Denver, CO.

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Institutional Ownership by Quarter for Cimarex Energy (NYSE:XEC)

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