DekaBank Deutsche Girozentrale lowered its stake in shares of Cimarex Energy Co (NYSE:XEC) by 30.1% in the third quarter, HoldingsChannel reports. The firm owned 11,657 shares of the oil and gas producer’s stock after selling 5,018 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Cimarex Energy were worth $1,028,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. IFM Investors Pty Ltd increased its stake in shares of Cimarex Energy by 13.6% during the third quarter. IFM Investors Pty Ltd now owns 5,064 shares of the oil and gas producer’s stock worth $471,000 after purchasing an additional 606 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its stake in shares of Cimarex Energy by 9.7% during the second quarter. Nissay Asset Management Corp Japan ADV now owns 7,091 shares of the oil and gas producer’s stock worth $721,000 after purchasing an additional 628 shares in the last quarter. Toronto Dominion Bank increased its stake in shares of Cimarex Energy by 1.0% during the third quarter. Toronto Dominion Bank now owns 61,985 shares of the oil and gas producer’s stock worth $5,759,000 after purchasing an additional 637 shares in the last quarter. Global X Management Co LLC increased its stake in shares of Cimarex Energy by 71.7% during the second quarter. Global X Management Co LLC now owns 2,559 shares of the oil and gas producer’s stock worth $260,000 after purchasing an additional 1,069 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in Cimarex Energy by 3.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 36,569 shares of the oil and gas producer’s stock valued at $3,396,000 after acquiring an additional 1,072 shares in the last quarter. 98.53% of the stock is owned by institutional investors and hedge funds.
NYSE:XEC opened at $75.40 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.62 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $7.74 billion, a price-to-earnings ratio of 16.22 and a beta of 1.10. Cimarex Energy Co has a 1-year low of $73.01 and a 1-year high of $130.16.
Cimarex Energy (NYSE:XEC) last posted its earnings results on Tuesday, November 6th. The oil and gas producer reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.47. The company had revenue of $591.50 million for the quarter, compared to analyst estimates of $561.67 million. Cimarex Energy had a net margin of 28.70% and a return on equity of 23.33%. Cimarex Energy’s revenue was up 27.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.09 EPS. Equities analysts expect that Cimarex Energy Co will post 7.14 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 15th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.95%. Cimarex Energy’s payout ratio is 15.48%.
Several analysts recently issued reports on XEC shares. ValuEngine cut shares of Cimarex Energy from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 23rd. Morgan Stanley dropped their price objective on shares of Cimarex Energy from $123.00 to $118.00 and set a “buy” rating for the company in a research note on Wednesday, September 26th. SunTrust Banks cut shares of Cimarex Energy from a “buy” rating to a “hold” rating and set a $94.00 price objective for the company. in a research note on Friday, September 7th. Piper Jaffray Companies started coverage on shares of Cimarex Energy in a research note on Friday, September 28th. They set a “neutral” rating for the company. Finally, Wolfe Research raised shares of Cimarex Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, October 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $125.00.
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Cimarex Energy Company 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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