Re Advisers Corp Lowers stake in Cimarex Energy Co (XEC)

Cimarex Energy Co (XEC) : Re Advisers Corp reduced its stake in Cimarex Energy Co by 8.97% during the most recent quarter end. The investment management company now holds a total of 253,800 shares of Cimarex Energy Co which is valued at $33,189,426 after selling 25,000 shares in Cimarex Energy Co , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Cimarex Energy Co makes up approximately 0.55% of Re Advisers Corp’s portfolio.

Other Hedge Funds, Including , Grace White Inc Ny reduced its stake in XEC by selling 4,225 shares or 27.81% in the most recent quarter. The Hedge Fund company now holds 10,968 shares of XEC which is valued at $1,434,285. Cimarex Energy Co makes up approx 0.32% of Grace White Inc Ny’s portfolio. Mufg Americas Holdings Corp added XEC to its portfolio by purchasing 306 company shares during the most recent quarter which is valued at $39,719.Tokio Marine Asset Management Co Ltd boosted its stake in XEC in the latest quarter, The investment management firm added 188 additional shares and now holds a total of 3,377 shares of Cimarex Energy Co which is valued at $382,310. Cimarex Energy Co makes up approx 0.04% of Tokio Marine Asset Management Co Ltd’s portfolio.Viking Fund Management boosted its stake in XEC in the latest quarter, The investment management firm added 10,000 additional shares and now holds a total of 115,000 shares of Cimarex Energy Co which is valued at $13,613,700. Cimarex Energy Co makes up approx 2.36% of Viking Fund Management’s portfolio.

Cimarex Energy Co opened for trading at $130.48 and hit $131.81 on the upside on Friday, eventually ending the session at $131.36, with a gain of 0.41% or 0.53 points. The heightened volatility saw the trading volume jump to 6,19,393 shares. Company has a market cap of $12,477 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.

Many Wall Street Analysts have commented on Cimarex Energy Co. 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 .Company shares were Reiterated by Barclays on Aug 8, 2016 to “Overweight”, Firm has raised the Price Target to $ 138 from a previous price target of $117 .Company shares were Reiterated by Stifel on Jul 13, 2016 to “Buy”, Firm has raised the Price Target to $ 142 from a previous price target of $120 .

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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