Boston Common Asset Management LLC boosted its stake in Cimarex Energy Co (NYSE:XEC) by 36.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,664 shares of the oil and gas producer’s stock after acquiring an additional 13,235 shares during the period. Boston Common Asset Management LLC’s holdings in Cimarex Energy were worth $3,472,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in XEC. Boston Partners raised its position 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 acquiring an additional 1,169,027 shares during the period. Norges Bank bought a new stake in Cimarex Energy in the fourth quarter worth about $52,408,000. Victory Capital Management Inc. raised its position in Cimarex Energy by 26.3% in the fourth quarter. Victory Capital Management Inc. now owns 2,998,167 shares of the oil and gas producer’s stock worth $184,836,000 after acquiring an additional 624,486 shares during the period. Diamond Hill Capital Management Inc. raised its position in Cimarex Energy by 7.9% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 6,068,484 shares of the oil and gas producer’s stock worth $374,122,000 after acquiring an additional 445,153 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in 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 worth $77,641,000 after acquiring an additional 439,290 shares during the period. 94.41% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have commented on XEC shares. Morgan Stanley lowered their price objective on shares of Cimarex Energy from $101.00 to $96.00 and set an “overweight” rating on the stock in a research report on Thursday, March 21st. Barclays started coverage on shares of Cimarex Energy in a research report on Wednesday, January 16th. They issued an “equal weight” rating and a $81.00 price objective on the stock. Williams Capital set a $104.00 price objective on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Tuesday, January 22nd. Imperial Capital reaffirmed an “outperform” rating and issued a $82.00 price objective (down previously from $84.00) on shares of Cimarex Energy in a research report on Friday. Finally, Susquehanna Bancshares raised shares of Cimarex Energy from a “neutral” rating to a “positive” rating and boosted their price target for the company from $74.00 to $88.00 in a research report on Friday, February 8th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company. Cimarex Energy presently has a consensus rating of “Hold” and an average price target of $106.18.
In related news, Director Harold R. Logan, Jr. sold 990 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $70.00, for a total transaction of $69,300.00. Following the completion of the transaction, the director now owns 7,259 shares of the company’s stock, valued at $508,130. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.70% of the stock is currently owned by insiders.
NYSE XEC opened at $67.78 on Friday. Cimarex Energy Co has a 12-month low of $55.62 and a 12-month high of $103.91. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.93 and a current ratio of 0.66. The company has a market capitalization of $6.84 billion, a PE ratio of 9.16 and a beta of 1.31.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings results on Wednesday, May 8th. The oil and gas producer reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.17). Cimarex Energy had a net margin of 26.90% and a return on equity of 19.95%. The business had revenue of $577.00 million during the quarter, compared to the consensus estimate of $581.51 million. During the same period last year, the firm earned $1.82 EPS. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. Research analysts predict that Cimarex Energy Co will post 7 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 15th will be paid a dividend of $0.20 per share. The ex-dividend date is Wednesday, August 14th. This represents a $0.80 annualized dividend and a yield of 1.18%. Cimarex Energy’s dividend payout ratio is currently 9.73%.
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Cimarex Energy 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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