Nomura Asset Management Co. Ltd. increased its holdings in Cimarex Energy (NYSE:XEC) by 10.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,716 shares of the oil and gas producer’s stock after buying an additional 1,169 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Cimarex Energy were worth $1,552,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. Wells Fargo & Company MN lifted its position in Cimarex Energy by 172.6% in the third quarter. Wells Fargo & Company MN now owns 1,352,468 shares of the oil and gas producer’s stock worth $153,734,000 after purchasing an additional 856,274 shares during the period. American Century Companies Inc. lifted its position in Cimarex Energy by 226.7% in the fourth quarter. American Century Companies Inc. now owns 879,814 shares of the oil and gas producer’s stock worth $107,346,000 after purchasing an additional 610,508 shares during the period. Ameriprise Financial Inc. lifted its position in Cimarex Energy by 41.8% in the third quarter. Ameriprise Financial Inc. now owns 1,623,569 shares of the oil and gas producer’s stock worth $184,549,000 after purchasing an additional 478,543 shares during the period. Boston Partners lifted its position in Cimarex Energy by 28.0% in the fourth quarter. Boston Partners now owns 1,812,143 shares of the oil and gas producer’s stock worth $221,100,000 after purchasing an additional 395,877 shares during the period. Finally, Old Mutual Global Investors UK Ltd. lifted its position in Cimarex Energy by 239,104.7% in the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 308,574 shares of the oil and gas producer’s stock worth $37,649,000 after purchasing an additional 308,445 shares during the period. 92.33% of the stock is owned by institutional investors and hedge funds.
In other news, Director Harold R. Logan, Jr. sold 1,900 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $97.82, for a total value of $185,858.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company’s stock.
Shares of XEC traded down $3.49 during mid-day trading on Friday, reaching $90.46. The company’s stock had a trading volume of 2,501,183 shares, compared to its average volume of 1,247,778. The firm has a market capitalization of $8,633.32, a P/E ratio of 19.45 and a beta of 1.19. Cimarex Energy has a 1 year low of $87.98 and a 1 year high of $130.16. The company has a quick ratio of 1.30, a current ratio of 1.38 and a debt-to-equity ratio of 0.58.
Cimarex Energy (NYSE:XEC) last released its 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. Cimarex Energy had a return on equity of 18.73% and a net margin of 25.77%. The company had revenue of $550.90 million during the quarter, compared to analyst estimates of $537.74 million. During the same quarter in the prior year, the company earned $0.60 earnings per share. The company’s revenue for the quarter was up 44.1% on a year-over-year basis. analysts expect that Cimarex Energy will post 7.21 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Thursday, March 15th will be paid a $0.16 dividend. The ex-dividend date is Monday, May 14th. This is an increase from Cimarex Energy’s previous quarterly dividend of $0.08. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.71%. Cimarex Energy’s dividend payout ratio is 6.88%.
A number of equities research analysts have weighed in on XEC shares. Cowen set a $165.00 target price on Cimarex Energy and gave the stock a “buy” rating in a research report on Thursday, January 18th. Jefferies Group set a $98.00 price objective on Cimarex Energy and gave the company a “hold” rating in a research report on Monday, March 19th. KeyCorp set a $140.00 price objective on Cimarex Energy and gave the company a “buy” rating in a research report on Sunday, January 21st. KLR Group downgraded Cimarex Energy from a “buy” rating to a “hold” rating and set a $138.00 price objective for the company. in a research report on Tuesday, January 23rd. Finally, Robert W. Baird set a $121.00 price objective on Cimarex Energy and gave the company a “buy” rating in a research report on Tuesday, February 13th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the stock. The stock has an average 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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