Earnest Partners LLC cut its holdings in shares of Cimarex Energy (NYSE:XEC) by 2.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 156,695 shares of the oil and gas producer’s stock after selling 3,943 shares during the quarter. Earnest Partners LLC owned 0.16% of Cimarex Energy worth $19,118,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in XEC. Assetmark Inc. grew its position in Cimarex Energy by 1,015.9% during the 4th quarter. Assetmark Inc. now owns 982 shares of the oil and gas producer’s stock worth $120,000 after purchasing an additional 894 shares during the last quarter. LMR Partners LLP acquired a new stake in shares of Cimarex Energy in the fourth quarter valued at about $200,000. Eagle Ridge Investment Management acquired a new position in Cimarex Energy during the fourth quarter worth about $204,000. Capital Advisors Inc. OK acquired a new position in Cimarex Energy during the fourth quarter worth about $205,000. Finally, Signition LP acquired a new position in Cimarex Energy during the fourth quarter worth about $206,000. Institutional investors and hedge funds own 92.33% of the company’s stock.
XEC stock traded down $3.49 during midday trading on Friday, hitting $90.46. The stock had a trading volume of 2,465,560 shares, compared to its average volume of 1,283,500. The stock has a market cap of $8,742.13, a P/E ratio of 19.45 and a beta of 1.19. Cimarex Energy has a 52 week low of $87.98 and a 52 week high of $130.16. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.38 and a quick ratio of 1.30.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings results on Wednesday, February 14th. The oil and gas producer reported $1.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.07. The business had revenue of $550.90 million during the quarter, compared to analysts’ expectations of $537.74 million. Cimarex Energy had a return on equity of 18.73% and a net margin of 25.77%. The firm’s revenue for the quarter was up 44.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.60 earnings per share. equities research analysts anticipate that Cimarex Energy will post 7.2 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Thursday, March 15th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.71%. This is a positive change from Cimarex Energy’s previous quarterly dividend of $0.08. The ex-dividend date is Monday, May 14th. Cimarex Energy’s dividend payout ratio (DPR) is presently 6.88%.
In related news, Director Harold R. Logan, Jr. sold 1,900 shares of Cimarex Energy stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $97.82, for a total value of $185,858.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is owned by company insiders.
A number of equities analysts have issued reports on XEC shares. Cowen set a $165.00 target price on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Thursday, January 18th. Jefferies Group set a $98.00 target price on shares of Cimarex Energy and gave the company a “hold” rating in a report on Monday, March 19th. KeyCorp set a $140.00 target price on shares of Cimarex Energy and gave the company a “buy” rating in a research note on Sunday, January 21st. KLR Group cut shares of Cimarex Energy from a “buy” rating to a “hold” rating and set a $138.00 price target on the stock. in a report on Tuesday, January 23rd. Finally, Robert W. Baird set a $121.00 target price on shares of Cimarex Energy and gave the stock a “buy” rating in a report on Tuesday, February 13th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and nineteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $136.32.
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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, 2017, it had a total proved oil and gas reserves of 3.35 trillion cubic feet equivalent (Tcfe) consisting of 1.61 trillion cubic feet of natural gas, 0.82 Tcfe of oil, and 0.92 Tcfe of natural gas liquids primarily located in the Mid-Continent and Permian Basin regions.
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