Royce & Associates LP increased its position in Cimarex Energy Co (NYSE:XEC) by 9.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,100 shares of the oil and gas producer’s stock after acquiring an additional 1,800 shares during the period. Royce & Associates LP’s holdings in Cimarex Energy were worth $1,301,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in XEC. Russell Investments Group Ltd. grew its stake in Cimarex Energy by 16.7% in the third quarter. Russell Investments Group Ltd. now owns 15,182 shares of the oil and gas producer’s stock valued at $1,416,000 after acquiring an additional 2,177 shares during the period. US Bancorp DE boosted its position in shares of Cimarex Energy by 13.7% during the third quarter. US Bancorp DE now owns 28,295 shares of the oil and gas producer’s stock valued at $2,630,000 after buying an additional 3,414 shares during the last quarter. LSV Asset Management boosted its position in shares of Cimarex Energy by 5.0% during the third quarter. LSV Asset Management now owns 77,600 shares of the oil and gas producer’s stock valued at $7,212,000 after buying an additional 3,700 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Cimarex Energy during the third quarter valued at approximately $2,406,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Cimarex Energy by 2.5% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 294,253 shares of the oil and gas producer’s stock valued at $27,348,000 after buying an additional 7,102 shares during the last quarter. 99.60% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently issued reports on XEC shares. Imperial Capital reaffirmed an “in-line” rating on shares of Cimarex Energy in a research report on Tuesday, November 20th. Robert W. Baird cut their target price on Cimarex Energy from $136.00 to $112.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 11th. Williams Capital set a $109.00 target price on Cimarex Energy and gave the company a “buy” rating in a research report on Wednesday, December 12th. Barclays started coverage on Cimarex Energy in a research report on Wednesday, January 16th. They set an “equal weight” rating and a $81.00 target price on the stock. Finally, Morgan Stanley set a $101.00 target price on Cimarex Energy and gave the company a “buy” rating in a research report on Friday, February 22nd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the stock. Cimarex Energy presently has a consensus rating of “Hold” and an average target price of $108.42.
Cimarex Energy (NYSE:XEC) last issued its quarterly 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 for 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%. Cimarex Energy’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the company posted $1.47 earnings per share. Research analysts anticipate that Cimarex Energy Co will post 5.73 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, May 14th. This is a positive change from Cimarex Energy’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 1.13%. Cimarex Energy’s payout ratio is presently 9.73%.
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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, 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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