Todays Report: The Viking Fund Management LLC Reduces Stake in Cimarex Energy Co. (XEC)

The Viking Fund Management LLC Reduces Stake in Cimarex Energy Co. (XEC)

Viking Fund Management LLC cut its position in shares of Cimarex Energy Co. (NYSE:XEC) by 13.0% during the third quarter, Holdings Channel reports. The firm owned 100,000 shares of the company’s stock after selling 15,000 shares during the period. Cimarex Energy accounts for about 2.2% of Viking Fund Management LLC’s holdings, making the stock its 19th largest position. Viking Fund Management LLC’s holdings in Cimarex Energy were worth $13,437,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of XEC. Aviva PLC increased its stake in Cimarex Energy by 4.1% in the first quarter. Aviva PLC now owns 48,025 shares of the company’s stock worth $4,671,000 after buying an additional 1,882 shares during the last quarter. Investec Asset Management North America Inc. bought a new position in Cimarex Energy during the first quarter worth $5,189,000. ING Groep NV bought a new position in Cimarex Energy during the first quarter worth $1,041,000. Investec Asset Management LTD bought a new position in Cimarex Energy during the first quarter worth $10,298,000. Finally, M&T Bank Corp boosted its position in Cimarex Energy by 1.2% in the first quarter. M&T Bank Corp now owns 10,555 shares of the company’s stock worth $1,027,000 after buying an additional 122 shares during the period. Hedge funds and other institutional investors own 92.39% of the company’s stock.

Shares of Cimarex Energy Co. (NYSE:XEC) traded down 0.18% on Thursday, reaching $139.55. The company had a trading volume of 503,804 shares. Cimarex Energy Co. has a 52-week low of $72.77 and a 52-week high of $142.07. The firm’s market capitalization is $13.26 billion. The company has a 50-day moving average price of $132.15 and a 200-day moving average price of $119.23.

Cimarex Energy (NYSE:XEC) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.18. Cimarex Energy had a negative net margin of 153.32% and a negative return on equity of 2.41%. The company had revenue of $298.90 million for the quarter, compared to analyst estimates of $279.22 million. During the same quarter in the previous year, the firm posted $0.15 earnings per share. The company’s quarterly revenue was down 29.6% compared to the same quarter last year. Equities research analysts forecast that Cimarex Energy Co. will post $0.62 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend is Thursday, November 10th. Cimarex Energy’s dividend payout ratio (DPR) is currently -1.61%.

A number of equities analysts have recently weighed in on XEC shares. Wunderlich boosted their price target on Cimarex Energy from $122.00 to $139.00 and gave the stock a “buy” rating in a report on Thursday, June 30th. JPMorgan Chase & Co. reissued a “hold” rating on shares of Cimarex Energy in a report on Thursday, June 30th. Canaccord Genuity reissued a “hold” rating and issued a $89.00 price target on shares of Cimarex Energy in a report on Wednesday, July 6th. Zacks Investment Research cut Cimarex Energy from a “buy” rating to a “hold” rating in a report on Monday, July 11th. Finally, Stifel Nicolaus boosted their price target on Cimarex Energy from $120.00 to $142.00 and gave the stock a “buy” rating in a report on Wednesday, July 13th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Cimarex Energy currently has a consensus rating of “Hold” and a consensus target price of $119.68.

In other news, SVP Francis Brian Barron sold 500 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $131.15, for a total value of $65,575.00. Following the sale, the senior vice president now owns 67,539 shares of the company’s stock, valued at $8,857,739.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Thomas E. Jorden sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $131.19, for a total transaction of $327,975.00. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Cimarex Energy Company Profile

Cimarex Energy Co is an independent oil and gas exploration and production company. The Company’s segment is exploration and production. Its operations are located mainly in Oklahoma, Texas and New Mexico. Its operations are focused in approximately two main areas, such as the Permian Basin and the Mid-Continent region.

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