Korea Investment CORP lessened its position in Cimarex Energy Co (NYSE:XEC) by 26.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 52,034 shares of the oil and gas producer’s stock after selling 18,400 shares during the quarter. Korea Investment CORP owned approximately 0.05% of Cimarex Energy worth $3,208,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American International Group Inc. lifted its stake in shares of Cimarex Energy by 2.6% in the 3rd quarter. American International Group Inc. now owns 58,547 shares of the oil and gas producer’s stock valued at $5,441,000 after purchasing an additional 1,483 shares during the period. Legal & General Group Plc lifted its stake in shares of Cimarex Energy by 2.6% in the 3rd quarter. Legal & General Group Plc now owns 427,288 shares of the oil and gas producer’s stock valued at $39,719,000 after purchasing an additional 11,003 shares during the period. YHB Investment Advisors Inc. lifted its stake in shares of Cimarex Energy by 11.8% in the 4th 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. Tobam raised its stake in Cimarex Energy by 636.7% during the third quarter. Tobam now owns 129,060 shares of the oil and gas producer’s stock valued at $11,995,000 after buying an additional 111,542 shares during the last quarter. Finally, Essex Investment Management Co. LLC purchased a new position in Cimarex Energy during the fourth quarter valued at $1,134,000. Institutional investors own 99.60% of the company’s stock.
A number of research analysts have issued reports on XEC shares. Cowen started coverage on Cimarex Energy in a research note on Thursday, November 29th. They set a “market perform” rating and a $95.00 price objective for the company. Barclays started coverage on Cimarex Energy in a research note on Wednesday, January 16th. They set an “equal weight” rating and a $81.00 price objective for the company. Mizuho started coverage on Cimarex Energy in a research note on Tuesday, January 29th. They set a “neutral” rating and a $80.00 price objective for the company. Susquehanna Bancshares cut Cimarex Energy from a “positive” rating to a “neutral” rating in a research note on Monday, February 11th. Finally, Morgan Stanley lifted their price objective on Cimarex Energy from $124.00 to $127.00 and gave the company a “buy” rating in a research note on Tuesday, November 20th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company. Cimarex Energy has a consensus rating of “Hold” and an average target price of $108.42.
Cimarex Energy stock opened at $70.52 on Friday. The firm has a market capitalization of $6.71 billion, a price-to-earnings ratio of 9.53 and a beta of 1.34. Cimarex Energy Co has a 12 month low of $55.62 and a 12 month high of $103.91. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.01 and a quick ratio of 1.93.
Cimarex Energy (NYSE:XEC) last posted its earnings results on Wednesday, February 20th. The oil and gas producer reported $1.98 EPS for the quarter, topping the Zacks’ consensus estimate of $1.75 by $0.23. The business had revenue of $624.10 million during the quarter, compared to analyst estimates of $620.20 million. Cimarex Energy had a return on equity of 23.51% and a net margin of 33.85%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.47 EPS. Equities research analysts forecast that Cimarex Energy Co will post 5.73 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be issued a $0.20 dividend. This is a positive change from Cimarex Energy’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.13%. Cimarex Energy’s dividend payout ratio (DPR) is presently 9.73%.
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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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