Trade Report: Today, State Treasurer State of Michigan decides to keep it stake in Cimarex Energy Co. (XEC) to the level of $4,461,000

Today, State Treasurer State of Michigan decides to keep it stake in Cimarex Energy Co. (XEC) to the level of $4,461,000

State Treasurer State of Michigan raised its position in Cimarex Energy Co. (NYSE:XEC) by 0.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 33,200 shares of the company’s stock after buying an additional 300 shares during the period. State Treasurer State of Michigan’s holdings in Cimarex Energy were worth $4,461,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Cimarex Energy by 2.9% in the second quarter. Vanguard Group Inc. now owns 8,912,689 shares of the company’s stock worth $1,063,462,000 after buying an additional 253,765 shares in the last quarter. State Street Corp boosted its stake in shares of Cimarex Energy by 1.5% in the second quarter. State Street Corp now owns 4,743,828 shares of the company’s stock worth $566,048,000 after buying an additional 72,084 shares in the last quarter. BlackRock Fund Advisors boosted its stake in shares of Cimarex Energy by 2.0% in the second quarter. BlackRock Fund Advisors now owns 1,716,089 shares of the company’s stock worth $204,764,000 after buying an additional 34,135 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Cimarex Energy by 18.5% in the third quarter. Wells Fargo & Company MN now owns 1,143,229 shares of the company’s stock worth $153,616,000 after buying an additional 178,493 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in shares of Cimarex Energy by 102.5% in the second quarter. Point72 Asset Management L.P. now owns 1,103,500 shares of the company’s stock worth $131,670,000 after buying an additional 558,673 shares in the last quarter. Institutional investors own 92.89% of the company’s stock.

Cimarex Energy Co. (NYSE:XEC) opened at 128.00 on Friday. The company’s market cap is $12.16 billion. The firm has a 50-day moving average price of $131.19 and a 200-day moving average price of $124.84. Cimarex Energy Co. has a 12-month low of $72.77 and a 12-month high of $142.20.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend is Thursday, November 10th. Cimarex Energy’s dividend payout ratio is presently -2.70%.

XEC has been the subject of a number of recent analyst reports. KLR Group raised Cimarex Energy from a “hold” rating to an “accumulate” rating and lifted their target price for the company from $143.00 to $152.00 in a report on Monday, November 7th. Stifel Nicolaus lifted their target price on Cimarex Energy from $142.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, November 1st. Citigroup Inc. lifted their target price on Cimarex Energy from $149.00 to $157.00 and gave the company a “buy” rating in a report on Monday, September 12th. FBR & Co reaffirmed a “buy” rating on shares of Cimarex Energy in a report on Thursday, November 3rd. Finally, Canaccord Genuity reduced their target price on Cimarex Energy from $112.00 to $94.00 and set a “hold” rating for the company in a report on Thursday, August 11th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $127.58.

In other news, CEO Thomas E. Jorden sold 2,500 shares of Cimarex Energy stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $131.19, for a total value of $327,975.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Joseph R. Albi sold 1,593 shares of Cimarex Energy stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $125.75, for a total value of $200,319.75. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

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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