Schroder Investment Management Group Grows Stake in Cimarex Energy Co (XEC)

Schroder Investment Management Group lifted its position in shares of Cimarex Energy Co (NYSE:XEC) by 65.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 248,848 shares of the oil and gas producer’s stock after buying an additional 98,080 shares during the quarter. Schroder Investment Management Group owned approximately 0.26% of Cimarex Energy worth $25,115,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Nissay Asset Management Corp Japan ADV raised its stake in Cimarex Energy by 9.7% in the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 7,091 shares of the oil and gas producer’s stock valued at $721,000 after purchasing an additional 628 shares during the last quarter. Trust Co. of Vermont raised its stake in Cimarex Energy by 2.7% in the 1st quarter. Trust Co. of Vermont now owns 28,840 shares of the oil and gas producer’s stock valued at $2,696,000 after purchasing an additional 750 shares during the last quarter. Stifel Financial Corp raised its stake in Cimarex Energy by 2.5% in the 1st quarter. Stifel Financial Corp now owns 30,466 shares of the oil and gas producer’s stock valued at $2,836,000 after purchasing an additional 756 shares during the last quarter. YHB Investment Advisors Inc. raised its stake in Cimarex Energy by 2.8% in the 2nd quarter. YHB Investment Advisors Inc. now owns 31,416 shares of the oil and gas producer’s stock valued at $3,196,000 after purchasing an additional 855 shares during the last quarter. Finally, Front Row Advisors LLC raised its stake in Cimarex Energy by 26.9% in the 2nd quarter. Front Row Advisors LLC now owns 4,086 shares of the oil and gas producer’s stock valued at $402,000 after purchasing an additional 865 shares during the last quarter. 94.95% of the stock is owned by institutional investors and hedge funds.

XEC opened at $93.03 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.34 and a quick ratio of 1.27. The stock has a market capitalization of $8.86 billion, a price-to-earnings ratio of 20.01 and a beta of 0.96. Cimarex Energy Co has a 12 month low of $80.53 and a 12 month high of $130.16.

Cimarex Energy (NYSE:XEC) last issued its earnings results on Tuesday, August 7th. The oil and gas producer reported $1.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.64 by ($0.05). Cimarex Energy had a return on equity of 21.47% and a net margin of 27.75%. The firm had revenue of $556.27 million for the quarter, compared to analysts’ expectations of $557.26 million. As a group, sell-side analysts forecast that Cimarex Energy Co will post 6.74 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Thursday, November 15th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.77%. This is a boost from Cimarex Energy’s previous quarterly dividend of $0.16. Cimarex Energy’s payout ratio is presently 13.76%.

In other news, Director Lisa A. Stewart bought 320 shares of the firm’s stock in a transaction dated Thursday, August 30th. The stock was acquired at an average price of $84.05 per share, for a total transaction of $26,896.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.70% of the stock is currently owned by insiders.

XEC has been the subject of several analyst reports. Williams Capital reissued a “buy” rating and issued a $134.00 target price on shares of Cimarex Energy in a research note on Wednesday, August 8th. Stifel Nicolaus set a $175.00 price target on Cimarex Energy and gave the company a “buy” rating in a report on Tuesday, August 7th. Morgan Stanley lowered their price target on Cimarex Energy from $135.00 to $124.00 and set an “overweight” rating for the company in a report on Thursday, July 12th. SunTrust Banks cut Cimarex Energy from a “buy” rating to a “hold” rating and set a $94.00 price target for the company. in a report on Friday, September 7th. Finally, JPMorgan Chase & Co. cut Cimarex Energy from an “overweight” rating to a “neutral” rating and set a $110.00 price target for the company. in a report on Wednesday, August 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $130.67.

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

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