Cimarex Energy Co (XEC) Shares Sold by Meridian Investment Counsel Inc.

Meridian Investment Counsel Inc. decreased its stake in shares of Cimarex Energy Co (NYSE:XEC) by 2.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,867 shares of the company’s stock after selling 58 shares during the period. Meridian Investment Counsel Inc.’s holdings in Cimarex Energy were worth $390,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in XEC. NEXT Financial Group Inc boosted its position in Cimarex Energy by 120.0% in the third quarter. NEXT Financial Group Inc now owns 770 shares of the company’s stock valued at $103,000 after buying an additional 420 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Cimarex Energy by 537.1% in the third quarter. Tower Research Capital LLC TRC now owns 790 shares of the company’s stock worth $106,000 after buying an additional 666 shares in the last quarter. Global X Management Co. LLC boosted its position in shares of Cimarex Energy by 80.3% in the third quarter. Global X Management Co. LLC now owns 1,064 shares of the company’s stock worth $143,000 after buying an additional 474 shares in the last quarter. MU Investments Co. Ltd. bought a new position in shares of Cimarex Energy during the third quarter worth approximately $144,000. Finally, Virtus Investment Advisers Inc. bought a new position in shares of Cimarex Energy during the third quarter worth approximately $185,000. 92.22% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Cimarex Energy (NYSE:XEC)

Cimarex Energy Co (NYSE:XEC) traded up 0.56% during mid-day trading on Tuesday, hitting $133.47. 529,897 shares of the stock traded hands. The stock has a 50-day moving average price of $136.52 and a 200-day moving average price of $132.83. Cimarex Energy Co has a 12 month low of $75.01 and a 12 month high of $146.96. The stock’s market cap is $12.67 billion.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 1st. Investors of record on Wednesday, February 15th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date is Monday, February 13th. Cimarex Energy’s dividend payout ratio (DPR) is -2.70%.

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A number of brokerages recently commented on XEC. Goldman Sachs Group, Inc. (The) raised Cimarex Energy from a “neutral” rating to a “buy” rating in a report on Friday, December 16th. SunTrust Banks, Inc. cut Cimarex Energy from a “buy” rating to a “hold” rating in a report on Tuesday, January 17th. Iberia Capital began coverage on Cimarex Energy in a report on Thursday, January 12th. They issued an “outperform” rating and a $160.00 target price on the stock. J P Morgan Chase & Co raised Cimarex Energy from a “neutral” rating to an “overweight” rating and set a $150.00 target price on the stock in a report on Thursday, December 8th. Finally, Stifel Nicolaus raised their target price on Cimarex Energy from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, February 3rd. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Cimarex Energy presently has an average rating of “Buy” and a consensus price target of $134.18.

In related news, VP Joseph R. Albi sold 5,500 shares of the stock in a transaction on Monday, December 5th. The shares were sold at an average price of $139.50, for a total value of $767,250.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas E. Jorden sold 2,500 shares of the stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $137.57, for a total transaction of $343,925.00. The disclosure for this sale can be found here. Insiders sold a total of 11,512 shares of company stock worth $1,597,294 over the last ninety days. Insiders own 2.00% of the company’s stock.

About Cimarex Energy

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.

5 Day Chart for NYSE:XEC

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