Prudential Financial Inc. trimmed its holdings in shares of Cimarex Energy Co (NYSE:XEC) by 11.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,499 shares of the oil and gas producer’s stock after selling 11,061 shares during the quarter. Prudential Financial Inc.’s holdings in Cimarex Energy were worth $5,310,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in XEC. Dimensional Fund Advisors LP raised its position in shares of Cimarex Energy by 53.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,259,384 shares of the oil and gas producer’s stock valued at $77,641,000 after buying an additional 439,290 shares in the last quarter. Geode Capital Management LLC raised its position in Cimarex Energy by 13.9% in the 4th quarter. Geode Capital Management LLC now owns 1,278,191 shares of the oil and gas producer’s stock worth $78,667,000 after purchasing an additional 156,318 shares during the period. Quantamental Technologies LLC purchased a new stake in Cimarex Energy in the 1st quarter worth about $31,000. Janney Montgomery Scott LLC raised its position in Cimarex Energy by 20.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 11,546 shares of the oil and gas producer’s stock worth $807,000 after purchasing an additional 1,990 shares during the period. Finally, Alps Advisors Inc. raised its position in Cimarex Energy by 12.6% in the 1st quarter. Alps Advisors Inc. now owns 5,754 shares of the oil and gas producer’s stock worth $402,000 after purchasing an additional 644 shares during the period. Hedge funds and other institutional investors own 96.14% of the company’s stock.
A number of research firms recently weighed in on XEC. MKM Partners reduced their price objective on shares of Cimarex Energy from $70.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Capital One Financial raised shares of Cimarex Energy from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 23rd. Citigroup reduced their price objective on shares of Cimarex Energy from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Wells Fargo & Co began coverage on shares of Cimarex Energy in a research report on Monday, May 20th. They issued a “market perform” rating and a $86.00 price objective on the stock. Finally, Imperial Capital reduced their price objective on shares of Cimarex Energy from $58.00 to $51.00 and set an “in-line” rating on the stock in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $77.39.
Shares of NYSE:XEC traded up $1.80 during trading on Friday, reaching $46.11. 335,163 shares of the company were exchanged, compared to its average volume of 1,890,943. The firm has a market capitalization of $4.57 billion, a PE ratio of 6.23 and a beta of 1.33. The business’s fifty day simple moving average is $43.25 and its 200-day simple moving average is $58.98. Cimarex Energy Co has a 12-month low of $37.19 and a 12-month high of $101.19. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.64 and a quick ratio of 0.57.
Cimarex Energy (NYSE:XEC) last issued its earnings results on Monday, August 5th. The oil and gas producer reported $0.82 EPS for the quarter, missing the Zacks’ consensus estimate of $1.20 by ($0.38). The company had revenue of $546.46 million for the quarter, compared to analysts’ expectations of $594.90 million. Cimarex Energy had a return on equity of 16.59% and a net margin of 25.66%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same period last year, the business posted $1.59 earnings per share. On average, sell-side analysts anticipate that Cimarex Energy Co will post 4.68 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Thursday, November 14th. Cimarex Energy’s dividend payout ratio (DPR) is presently 10.81%.
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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