Geosphere Capital Management buys $5,361,570 stake in Cimarex Energy Co (XEC)

Cimarex Energy Co (XEC) : Geosphere Capital Management scooped up 33,384 additional shares in Cimarex Energy Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 41,000 shares of Cimarex Energy Co which is valued at $5,361,570.Cimarex Energy Co makes up approximately 6.43% of Geosphere Capital Management’s portfolio.

Other Hedge Funds, Including , Amp Capital Investors Ltd boosted its stake in XEC in the latest quarter, The investment management firm added 7,600 additional shares and now holds a total of 40,328 shares of Cimarex Energy Co which is valued at $5,273,693. Cimarex Energy Co makes up approx 0.03% of Amp Capital Investors Ltd’s portfolio. Wall Street Associates added XEC to its portfolio by purchasing 2,304 company shares during the most recent quarter which is valued at $301,294. Cimarex Energy Co makes up approx 0.11% of Wall Street Associates’s portfolio.Comerica Bank reduced its stake in XEC by selling 639 shares or 2.17% in the most recent quarter. The Hedge Fund company now holds 28,824 shares of XEC which is valued at $3,769,314. Cimarex Energy Co makes up approx 0.03% of Comerica Bank’s portfolio.Essex Investment Management Co boosted its stake in XEC in the latest quarter, The investment management firm added 8,775 additional shares and now holds a total of 12,399 shares of Cimarex Energy Co which is valued at $1,403,691. Cimarex Energy Co makes up approx 0.22% of Essex Investment Management Co’s portfolio.

Cimarex Energy Co opened for trading at $131.53 and hit $134.74 on the upside on Thursday, eventually ending the session at $134.62, with a gain of 1.85% or 2.44 points. The heightened volatility saw the trading volume jump to 9,13,281 shares. Company has a market cap of $12,787 M.

On the company’s financial health, Cimarex Energy Co reported $0.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $-0.02. The company had revenue of $298.90 million for the quarter, compared to analysts expectations of $294.18 million. The company’s revenue was down -29.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.15 EPS.

Investors should note that on Aug 31, 2016, Cimarex Energy Co announced a cash dividend of $0.0800. The company’s management has announced Nov 11, 2016 as the ex-dividend date and fixed the record date on Nov 15, 2016. The payable date has been fixed on Dec 1, 2016.

Many Wall Street Analysts have commented on Cimarex Energy Co. Cimarex Energy Co was Initiated by Wells Fargo to “Outperform” on Aug 31, 2016. Williams Capital Group Initiated Cimarex Energy Co on Aug 29, 2016 to “Hold”, Price Target of the shares are set at $143.Company shares were Reiterated by Canaccord Genuity on Aug 11, 2016 to “Hold”, Firm has raised the Price Target to $ 112 from a previous price target of $94 .

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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