Sir Capital Management Lowers stake in Cimarex Energy Co (XEC)

Cimarex Energy Co (XEC) : Sir Capital Management reduced its stake in Cimarex Energy Co by 25.57% during the most recent quarter end. The investment management company now holds a total of 275,600 shares of Cimarex Energy Co which is valued at $36,040,212 after selling 94,700 shares in Cimarex Energy Co , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Cimarex Energy Co makes up approximately 5.14% of Sir Capital Management’s portfolio.

Other Hedge Funds, Including , Lazard Asset Management boosted its stake in XEC in the latest quarter, The investment management firm added 155 additional shares and now holds a total of 45,970 shares of Cimarex Energy Co which is valued at $6,011,497. Cimarex Energy Co makes up approx 0.01% of Lazard Asset Management’s portfolio. Stevens Capital Management Lp added XEC to its portfolio by purchasing 16,544 company shares during the most recent quarter which is valued at $2,163,459. Cimarex Energy Co makes up approx 0.08% of Stevens Capital Management Lp’s portfolio. Brc Investment Management added XEC to its portfolio by purchasing 29,653 company shares during the most recent quarter which is valued at $3,756,739. Cimarex Energy Co makes up approx 0.63% of Brc Investment Management’s portfolio.Utah Retirement Systems boosted its stake in XEC in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 17,121 shares of Cimarex Energy Co which is valued at $2,078,318. Cimarex Energy Co makes up approx 0.05% of Utah Retirement Systems’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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