Envestnet Asset Management Inc. lowered its holdings in shares of Cimarex Energy Co (NYSE:XEC) by 26.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 91,164 shares of the oil and gas producer’s stock after selling 31,964 shares during the quarter. Envestnet Asset Management Inc. owned 0.09% of Cimarex Energy worth $5,409,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Valeo Financial Advisors LLC raised its position in shares of Cimarex Energy by 319.8% in the 2nd quarter. Valeo Financial Advisors LLC now owns 487 shares of the oil and gas producer’s stock worth $29,000 after acquiring an additional 371 shares in the last quarter. Quantamental Technologies LLC bought a new position in Cimarex Energy in the first quarter worth about $31,000. Nvwm LLC raised its holdings in Cimarex Energy by 462.0% in the first quarter. Nvwm LLC now owns 517 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 425 shares in the last quarter. Advisory Services Network LLC lifted its position in Cimarex Energy by 1,170.2% during the second quarter. Advisory Services Network LLC now owns 597 shares of the oil and gas producer’s stock valued at $36,000 after acquiring an additional 550 shares during the last quarter. Finally, Bremer Bank National Association acquired a new stake in Cimarex Energy in the first quarter valued at approximately $48,000. 96.14% of the stock is currently owned by institutional investors.
Shares of Cimarex Energy stock opened at $45.06 on Wednesday. The stock has a market capitalization of $4.29 billion, a P/E ratio of 6.09 and a beta of 1.33. The business has a 50 day simple moving average of $43.34 and a two-hundred day simple moving average of $59.13. Cimarex Energy Co has a 12 month low of $37.19 and a 12 month high of $101.19. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.64 and a quick ratio of 0.57.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.82 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.38). The company had revenue of $546.46 million during the quarter, compared to analyst estimates of $594.90 million. Cimarex Energy had a net margin of 25.66% and a return on equity of 16.59%. Cimarex Energy’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.59 EPS. As a group, research analysts anticipate that Cimarex Energy Co will post 4.78 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, November 14th. Cimarex Energy’s dividend payout ratio is presently 10.81%.
A number of equities analysts have recently issued reports on the company. Bank of America reduced their price target on Cimarex Energy from $87.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. KeyCorp assumed coverage on Cimarex Energy in a research report on Thursday, June 27th. They set an “overweight” rating and a $66.00 target price on the stock. Citigroup cut their price objective on shares of Cimarex Energy from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Imperial Capital dropped their price objective on shares of Cimarex Energy from $58.00 to $51.00 and set an “in-line” rating on the stock in a report on Wednesday, August 7th. Finally, Wells Fargo & Co initiated coverage on Cimarex Energy in a research report on Monday, May 20th. They set a “market perform” rating and a $86.00 price target for the company. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $77.39.
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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