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Envestnet Asset Management Inc. Trims Stock Position in Cimarex Energy Co (NYSE:XEC)

By September 4, 2019 No Comments

Envestnet Asset Management Inc. cut its holdings in shares of Cimarex Energy Co (NYSE:XEC) by 26.0% in the second quarter, according to its most recent filing with the Securities and 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Boston Partners boosted its stake in Cimarex Energy by 20.1% in the first quarter. Boston Partners now owns 6,989,669 shares of the oil and gas producer’s stock worth $488,578,000 after purchasing an additional 1,169,027 shares in the last quarter. BlackRock Inc. increased its holdings in Cimarex Energy by 7.6% in the first quarter. BlackRock Inc. now owns 6,979,085 shares of the oil and gas producer’s stock valued at $487,836,000 after purchasing an additional 494,463 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in Cimarex Energy by 15.9% in the second quarter. Diamond Hill Capital Management Inc. now owns 6,937,262 shares of the oil and gas producer’s stock valued at $411,588,000 after purchasing an additional 953,479 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Cimarex Energy by 4.9% in the first quarter. Victory Capital Management Inc. now owns 3,144,463 shares of the oil and gas producer’s stock valued at $219,798,000 after purchasing an additional 146,296 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Cimarex Energy by 5.4% in the second quarter. Janus Henderson Group PLC now owns 1,279,327 shares of the oil and gas producer’s stock valued at $75,903,000 after purchasing an additional 66,119 shares during the last quarter. 96.13% of the stock is owned by institutional investors.

Cimarex Energy stock traded down $1.78 during trading hours on Tuesday, hitting $41.00. The company had a trading volume of 27,377 shares, compared to its average volume of 2,229,569. The firm has a market cap of $4.34 billion, a P/E ratio of 5.48 and a beta of 1.33. 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 1 year low of $37.19 and a 1 year high of $101.19. The company has a 50-day moving average price of $44.48 and a two-hundred day moving average price of $60.43.

Cimarex Energy (NYSE:XEC) last posted its quarterly earnings data 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 firm had revenue of $546.46 million for the quarter, compared to the consensus estimate of $594.90 million. Cimarex Energy had a return on equity of 16.59% and a net margin of 25.66%. The company’s revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.59 EPS. As a group, equities research analysts anticipate 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. Stockholders of record on Friday, November 15th will be paid a $0.20 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.95%. Cimarex Energy’s payout ratio is currently 10.81%.

Several research analysts have recently weighed in on the company. Citigroup reduced their price objective on Cimarex Energy from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. SunTrust Banks set a $60.00 price objective on Cimarex Energy and gave the company a “buy” rating in a research note on Wednesday, August 7th. Morgan Stanley cut their price objective on Cimarex Energy from $81.00 to $57.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. MKM Partners cut their price objective on Cimarex Energy from $70.00 to $64.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, BMO Capital Markets downgraded Cimarex Energy from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $82.00 to $67.00 in a report on Thursday, July 11th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Cimarex Energy has a consensus 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.

Read More: Why do analysts give a neutral rating?

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

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