CIBC Asset Management Inc lifted its position in Cimarex Energy Co (NYSE:XEC) by 2.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,011 shares of the oil and gas producer’s stock after buying an additional 275 shares during the quarter. CIBC Asset Management Inc’s holdings in Cimarex Energy were worth $653,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of Cimarex Energy by 53.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,259,384 shares of the oil and gas producer’s stock valued at $77,641,000 after acquiring an additional 439,290 shares during the period. Geode Capital Management LLC boosted its holdings in Cimarex Energy by 13.9% in the fourth quarter. Geode Capital Management LLC now owns 1,278,191 shares of the oil and gas producer’s stock valued at $78,667,000 after acquiring an additional 156,318 shares during the last quarter. Retirement Systems of Alabama boosted its holdings in Cimarex Energy by 7.4% in the first quarter. Retirement Systems of Alabama now owns 47,242 shares of the oil and gas producer’s stock valued at $3,302,000 after acquiring an additional 3,266 shares during the last quarter. Strs Ohio boosted its holdings in Cimarex Energy by 4.4% in the first quarter. Strs Ohio now owns 10,712 shares of the oil and gas producer’s stock valued at $748,000 after acquiring an additional 451 shares during the last quarter. Finally, Brinker Capital Inc. bought a new position in Cimarex Energy in the first quarter valued at about $263,000. 96.13% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently issued reports on XEC. Robert W. Baird reiterated an “outperform” rating and issued a $82.00 price target (down previously from $110.00) on shares of Cimarex Energy in a report on Wednesday, June 5th. Capital One Financial upgraded Cimarex Energy from an “equal weight” rating to an “overweight” rating in a report on Thursday, May 23rd. SunTrust Banks set a $60.00 target price on Cimarex Energy and gave the stock a “buy” rating in a report on Wednesday, August 7th. Williams Capital restated a “buy” rating and set a $83.00 target price on shares of Cimarex Energy in a report on Monday, July 22nd. Finally, KeyCorp started coverage on Cimarex Energy in a research report on Thursday, June 27th. They set an “overweight” rating and a $66.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $77.39.
XEC stock traded down $2.11 during trading on Tuesday, reaching $40.67. 729,768 shares of the company were exchanged, compared to its average volume of 2,229,569. The company has a market cap of $4.34 billion, a P/E ratio of 5.50 and a beta of 1.33. The stock’s 50 day moving average price is $44.48 and its 200 day moving average price is $60.43. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.57 and a current ratio of 0.64. Cimarex Energy Co has a 52-week low of $37.19 and a 52-week high of $101.19.
Cimarex Energy (NYSE:XEC) last issued its earnings results on Monday, August 5th. The oil and gas producer reported $0.82 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.20 by ($0.38). The business had revenue of $546.46 million for the quarter, compared to analyst estimates of $594.90 million. Cimarex Energy had a return on equity of 16.59% and a net margin of 25.66%. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period last year, the company posted $1.59 earnings per share. As a group, equities research analysts forecast that Cimarex Energy Co will post 4.88 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.97%. The ex-dividend date is Thursday, November 14th. Cimarex Energy’s payout ratio is presently 10.81%.
Cimarex Energy Company Profile
Cimarex Energy Co operates as an independent oil and gas exploration and production company primarily in Oklahoma, Texas, and New Mexico. As of December 31, 2018, it had a total proved reserves of 591.2 million barrels of oil equivalent, consisting of 1.59 trillion cubic feet of natural gas; 146.5 million barrels (MMBbls) of oil; and 179.4 MMBbls of natural gas liquids primarily located in the Permian Basin and Mid-Continent regions.
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