Migdal Insurance & Financial Holdings Ltd. raised its holdings in Cimarex Energy Co (NYSE:XEC) by 19.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,746 shares of the oil and gas producer’s stock after purchasing an additional 443 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Cimarex Energy were worth $192,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Teacher Retirement System of Texas lifted its position in Cimarex Energy by 61.9% during the fourth quarter. Teacher Retirement System of Texas now owns 18,182 shares of the oil and gas producer’s stock worth $1,121,000 after buying an additional 6,949 shares in the last quarter. Gulf International Bank UK Ltd raised its position in Cimarex Energy by 11.4% in the first quarter. Gulf International Bank UK Ltd now owns 23,007 shares of the oil and gas producer’s stock valued at $1,608,000 after purchasing an additional 2,350 shares during the period. Addison Capital Co raised its position in Cimarex Energy by 21.0% in the first quarter. Addison Capital Co now owns 20,333 shares of the oil and gas producer’s stock valued at $1,421,000 after purchasing an additional 3,524 shares during the period. Yaupon Capital Management LP purchased a new stake in Cimarex Energy in the fourth quarter valued at $4,877,000. Finally, YHB Investment Advisors Inc. raised its position in Cimarex Energy by 11.8% in the fourth quarter. YHB Investment Advisors Inc. now owns 33,756 shares of the oil and gas producer’s stock valued at $2,081,000 after purchasing an additional 3,560 shares during the period. 93.60% of the stock is currently owned by institutional investors.
XEC has been the topic of a number of research analyst reports. Morgan Stanley set a $100.00 target price on Cimarex Energy and gave the company a “buy” rating in a research report on Thursday, May 16th. Susquehanna Bancshares upgraded Cimarex Energy from a “neutral” rating to a “positive” rating and lifted their target price for the company from $74.00 to $88.00 in a research report on Friday, February 8th. Evercore ISI downgraded Cimarex Energy from an “outperform” rating to an “in-line” rating in a report on Tuesday, March 12th. Capital One Financial downgraded Cimarex Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, March 20th. Finally, Imperial Capital reiterated an “outperform” rating and issued a $83.00 price objective (up previously from $79.00) on shares of Cimarex Energy in a report on Friday, February 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $105.83.
Shares of NYSE:XEC traded down $1.11 on Wednesday, hitting $61.91. 1,922,151 shares of the company’s stock were exchanged, compared to its average volume of 1,434,945. The stock has a market cap of $6.26 billion, a P/E ratio of 8.37 and a beta of 1.31. Cimarex Energy Co has a 1-year low of $55.62 and a 1-year high of $103.91. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.59 and a current ratio of 0.66.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings data on Wednesday, May 8th. The oil and gas producer reported $1.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by ($0.17). The business had revenue of $577.00 million for the quarter, compared to analyst estimates of $581.51 million. Cimarex Energy had a return on equity of 19.95% and a net margin of 26.90%. The company’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.82 earnings per share. On average, equities research analysts predict that Cimarex Energy Co will post 6.62 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 15th will be given a $0.20 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.29%. Cimarex Energy’s dividend payout ratio (DPR) is presently 10.81%.
In related news, Director Harold R. Logan, Jr. sold 990 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $70.00, for a total value of $69,300.00. Following the completion of the sale, the director now directly owns 7,259 shares of the company’s stock, valued at approximately $508,130. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.70% of the stock is owned by corporate insiders.
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, 2018, it had a total proved reserves of 591.2 million barrels of oil equivalent, consisting of 1.59 trillion cubic feet of natural gas; 146.5 million barrels (MMBbls) of oil; and 179.4 MMBbls of natural gas liquids primarily located in the Permian Basin and Mid-Continent regions.
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