International Value Advisers Lowers stake in Cimarex Energy Co (XEC)

Cimarex Energy Co (XEC) : International Value Advisers reduced its stake in Cimarex Energy Co by 36.82% during the most recent quarter end. The investment management company now holds a total of 721,977 shares of Cimarex Energy Co which is valued at $82.3 Million after selling 420,807 shares in Cimarex Energy Co , the firm said in a disclosure report filed with the SEC on May 13, 2016.Cimarex Energy Co makes up approximately 2.41% of International Value Advisers’s portfolio.

Other Hedge Funds, Including , Ikos Cif Ltd sold out all of its stake in XEC during the most recent quarter. The investment firm sold 3,787 shares of XEC which is valued $431,604.Teachers Advisors Inc boosted its stake in XEC in the latest quarter, The investment management firm added 7,531 additional shares and now holds a total of 387,761 shares of Cimarex Energy Co which is valued at $42.7 Million. Cimarex Energy Co makes up approx 0.08% of Teachers Advisors Inc’s portfolio.State Treasurer State Of Michigan boosted its stake in XEC in the latest quarter, The investment management firm added 300 additional shares and now holds a total of 32,600 shares of Cimarex Energy Co which is valued at $3.6 Million. Cimarex Energy Co makes up approx 0.03% of State Treasurer State Of Michigan’s portfolio.Jennison Associates reduced its stake in XEC by selling 129,510 shares or 18.16% in the most recent quarter. The Hedge Fund company now holds 583,559 shares of XEC which is valued at $64.3 Million. Cimarex Energy Co makes up approx 0.07% of Jennison Associates’s portfolio.Ifp Advisors Inc boosted its stake in XEC in the latest quarter, The investment management firm added 702 additional shares and now holds a total of 1,292 shares of Cimarex Energy Co which is valued at $142,365. Cimarex Energy Co makes up approx 0.01% of Ifp Advisors Inc’s portfolio.

Cimarex Energy Co opened for trading at $118.99 and hit $119.6 on the upside on Wednesday, eventually ending the session at $118.39, with a gain of 0.74% or 0.87 points. The heightened volatility saw the trading volume jump to 11,04,869 shares. Company has a market cap of $11,225 M.

On the company’s financial health, Cimarex Energy Co reported $-0.40 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $-0.39. The company had revenue of $240.60 million for the quarter, compared to analysts expectations of $245.28 million. The company’s revenue was down -33.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.37 EPS.

Investors should note that on May 13, 2016, Cimarex Energy Co announced a cash dividend of $0.0800. The company’s management has announced Aug 11, 2016 as the ex-dividend date and fixed the record date on Aug 15, 2016. The payable date has been fixed on Sep 1, 2016.

Many Wall Street Analysts have commented on Cimarex Energy Co. Company shares were Reiterated by Deutsche Bank on May 18, 2016 to “Hold”, Firm has raised the Price Target to $ 120 from a previous price target of $110 .Company shares were Reiterated by Barclays on May 9, 2016 to “Overweight”, Firm has raised the Price Target to $ 116 from a previous price target of $109 .Company shares were Reiterated by Wunderlich on May 6, 2016 to “Buy”, Firm has raised the Price Target to $ 122 from a previous price target of $105 .

Cimarex Energy Co. (Cimarex) is an independent oil and gas exploration and production company. Its operations are located mainly in Oklahoma Texas and New Mexico. The Company’s exploration and production (E&P) activities take place primarily in two areas: the Permian Basin and the Mid-Continent region. The Permian region encompasses west Texas and southeast New Mexico. Cimarex’s Permian Basin efforts are located in the western half of the Permian Basin known as the Delaware Basin. In 2014 the Company focused on drilling horizontal wells that yielded oil and liquids-rich gas from the Wolfcamp shale the Bone Spring formation and the Avalon shale. The Permian region produced 399 Million cubic feet equivalent (MMcfe) per day in 2014.The Company’s Mid-Continent region consists of Oklahoma and the Texas Panhandle. The Mid-Continent region produced around 451.2 MMcfe per day.

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