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

Cimarex Energy Co (XEC) : Howland Capital Management reduced its stake in Cimarex Energy Co by 1.21% during the most recent quarter end. The investment management company now holds a total of 90,029 shares of Cimarex Energy Co which is valued at $12,518,532 after selling 1,100 shares in Cimarex Energy Co , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Cimarex Energy Co makes up approximately 1.19% of Howland Capital Management’s portfolio.

Other Hedge Funds, Including , Gulf International Bank (uk) Ltd boosted its stake in XEC in the latest quarter, The investment management firm added 1,700 additional shares and now holds a total of 28,856 shares of Cimarex Energy Co which is valued at $4,012,427. Cimarex Energy Co makes up approx 0.07% of Gulf International Bank (uk) Ltd’s portfolio.Legal General Group Plc boosted its stake in XEC in the latest quarter, The investment management firm added 15,451 additional shares and now holds a total of 421,968 shares of Cimarex Energy Co which is valued at $58,721,067. Cimarex Energy Co makes up approx 0.06% of Legal General Group Plc’s portfolio.Eagle Asset Management Inc reduced its stake in XEC by selling 301 shares or 1.08% in the most recent quarter. The Hedge Fund company now holds 27,492 shares of XEC which is valued at $3,825,787. Cimarex Energy Co makes up approx 0.03% of Eagle Asset Management Inc’s portfolio.Addison Capital Co reduced its stake in XEC by selling 55 shares or 0.37% in the most recent quarter. The Hedge Fund company now holds 14,629 shares of XEC which is valued at $2,065,030. Cimarex Energy Co makes up approx 1.81% of Addison Capital Co’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in XEC in the latest quarter, The investment management firm added 1,821 additional shares and now holds a total of 16,560 shares of Cimarex Energy Co which is valued at $2,309,789. Cimarex Energy Co makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio.

Cimarex Energy Co closed down -2 points or -1.42% at $139.16 with 7,08,557 shares getting traded on Tuesday. Post opening the session at $140.78, the shares hit an intraday low of $138.55 and an intraday high of $141.41 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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 Sep 16, 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. FBR & Co. Initiated Cimarex Energy Co on Sep 13, 2016 to “Outperform”, Price Target of the shares are set at $160.FBR Capital Initiated Cimarex Energy Co on Sep 13, 2016 to “Outperform”, Price Target of the shares are set at $160.Cimarex Energy Co was Initiated by Wells Fargo to “Outperform” on Aug 31, 2016.

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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