American International Group Inc. increased its position in shares of Cimarex Energy Co (NYSE:XEC) by 2.6% in the third quarter, HoldingsChannel reports. The firm owned 58,547 shares of the oil and gas producer’s stock after purchasing an additional 1,483 shares during the period. American International Group Inc.’s holdings in Cimarex Energy were worth $5,441,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in XEC. Paloma Partners Management Co increased its position in Cimarex Energy by 20.4% in the 2nd quarter. Paloma Partners Management Co now owns 71,280 shares of the oil and gas producer’s stock valued at $7,252,000 after acquiring an additional 12,079 shares in the last quarter. Swiss National Bank increased its position in Cimarex Energy by 3.5% in the 2nd quarter. Swiss National Bank now owns 315,161 shares of the oil and gas producer’s stock valued at $32,064,000 after acquiring an additional 10,600 shares in the last quarter. Investec Asset Management LTD increased its position in Cimarex Energy by 173.1% in the 2nd quarter. Investec Asset Management LTD now owns 118,291 shares of the oil and gas producer’s stock valued at $12,035,000 after acquiring an additional 74,981 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Cimarex Energy by 41.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 48,423 shares of the oil and gas producer’s stock valued at $4,927,000 after purchasing an additional 14,213 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Cimarex Energy by 44.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 17,645 shares of the oil and gas producer’s stock valued at $1,797,000 after purchasing an additional 5,419 shares during the last quarter. Institutional investors and hedge funds own 98.53% of the company’s stock.
XEC has been the topic of several recent research reports. Wolfe Research raised shares of Cimarex Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, October 17th. Imperial Capital reaffirmed an “in-line” rating on shares of Cimarex Energy in a research note on Tuesday, November 20th. Williams Capital set a $129.00 target price on shares of Cimarex Energy and gave the company a “buy” rating in a research note on Wednesday, November 7th. ValuEngine raised shares of Cimarex Energy from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 9th. Finally, Morgan Stanley reduced their target price on shares of Cimarex Energy from $123.00 to $118.00 and set a “buy” rating on the stock in a research note on Wednesday, September 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $125.00.
Cimarex Energy stock opened at $75.40 on Friday. Cimarex Energy Co has a fifty-two week low of $73.01 and a fifty-two week high of $130.16. The company has a market cap of $7.74 billion, a P/E ratio of 16.22 and a beta of 1.10. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.62 and a current ratio of 1.69.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings data on Tuesday, November 6th. The oil and gas producer reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.47. Cimarex Energy had a net margin of 28.70% and a return on equity of 23.33%. The business had revenue of $591.50 million for the quarter, compared to analyst estimates of $561.67 million. During the same quarter last year, the firm earned $1.09 EPS. Cimarex Energy’s quarterly revenue was up 27.6% compared to the same quarter last year. Analysts expect that Cimarex Energy Co will post 7.14 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 15th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.95%. Cimarex Energy’s payout ratio is 15.48%.
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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, 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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