Eagle Asset Management Inc. lessened its stake in shares of Cimarex Energy Co (NYSE:XEC) by 12.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,274 shares of the oil and gas producer’s stock after selling 2,834 shares during the quarter. Eagle Asset Management Inc.’s holdings in Cimarex Energy were worth $1,143,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in XEC. Dimensional Fund Advisors LP raised its position in shares of Cimarex Energy by 53.6% in the 4th 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 purchasing an additional 439,290 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Cimarex Energy by 13.9% in the 4th 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 purchasing an additional 156,318 shares in the last quarter. Retirement Systems of Alabama raised its position in shares of Cimarex Energy by 7.4% in the 1st quarter. Retirement Systems of Alabama now owns 47,242 shares of the oil and gas producer’s stock valued at $3,302,000 after purchasing an additional 3,266 shares in the last quarter. Strs Ohio raised its position in shares of Cimarex Energy by 4.4% in the 1st quarter. Strs Ohio now owns 10,712 shares of the oil and gas producer’s stock valued at $748,000 after purchasing an additional 451 shares in the last quarter. Finally, Brinker Capital Inc. acquired a new position in shares of Cimarex Energy in the 1st quarter valued at approximately $263,000. 95.69% of the stock is currently owned by institutional investors.
XEC stock opened at $38.11 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.57 and a debt-to-equity ratio of 0.56. The firm has a market cap of $3.87 billion, a P/E ratio of 5.15 and a beta of 1.30. Cimarex Energy Co has a 12-month low of $37.89 and a 12-month high of $101.19. The stock’s 50 day simple moving average is $47.79 and its 200 day simple moving average is $62.05.Cimarex Energy (NYSE:XEC) last posted its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.82 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by ($0.38). The firm had revenue of $546.46 million for 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%. The business’s revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.59 earnings per share. On average, research analysts forecast that Cimarex Energy Co will post 5.03 EPS for the current fiscal year.
A number of equities analysts have issued reports on XEC shares. SunTrust Banks set a $60.00 target price on Cimarex Energy and gave the company a “buy” rating in a research report on Wednesday, August 7th. Piper Jaffray Companies set a $68.00 target price on Cimarex Energy and gave the company a “hold” rating in a research report on Friday, August 16th. Capital One Financial raised Cimarex Energy from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 23rd. Wells Fargo & Co started coverage on Cimarex Energy in a research report on Monday, May 20th. They issued a “market perform” rating and a $86.00 target price on the stock. Finally, Morgan Stanley cut their target price on Cimarex Energy from $81.00 to $57.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $77.39.
About Cimarex Energy
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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