Oppenheimer & Co. Inc. lessened its holdings in Cimarex Energy Co (NYSE:XEC) by 63.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,731 shares of the oil and gas producer’s stock after selling 6,345 shares during the period. Oppenheimer & Co. Inc.’s holdings in Cimarex Energy were worth $221,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in XEC. Valeo Financial Advisors LLC lifted its stake in shares of Cimarex Energy by 319.8% in the 2nd quarter. Valeo Financial Advisors LLC now owns 487 shares of the oil and gas producer’s stock valued at $29,000 after purchasing an additional 371 shares during the last quarter. Quantamental Technologies LLC acquired a new position in shares of Cimarex Energy in the 1st quarter valued at $31,000. Nvwm LLC lifted its stake in shares of Cimarex Energy by 462.0% in the 1st quarter. Nvwm LLC now owns 517 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 425 shares during the last quarter. Advisory Services Network LLC lifted its stake in shares of Cimarex Energy by 1,170.2% in the 2nd quarter. Advisory Services Network LLC now owns 597 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 550 shares during the last quarter. Finally, Bremer Bank National Association acquired a new position in shares of Cimarex Energy in the 1st quarter valued at $48,000. 96.14% of the stock is currently owned by institutional investors and hedge funds.
XEC traded up $1.84 during mid-day trading on Friday, hitting $46.15. 49,537 shares of the stock were exchanged, compared to its average volume of 1,890,943. The firm’s fifty day moving average is $43.25 and its two-hundred day moving average is $58.98. Cimarex Energy Co has a 1-year low of $37.19 and a 1-year high of $101.19. The company has a current ratio of 0.64, a quick ratio of 0.57 and a debt-to-equity ratio of 0.56. The company has a market cap of $4.57 billion, a PE ratio of 6.23 and a beta of 1.33.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.82 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by ($0.38). Cimarex Energy had a return on equity of 16.59% and a net margin of 25.66%. The company had revenue of $546.46 million for the quarter, compared to analysts’ expectations of $594.90 million. During the same quarter last year, the company earned $1.59 EPS. Cimarex Energy’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, research analysts anticipate that Cimarex Energy Co will post 4.68 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.80 annualized dividend and a yield of 1.73%. Cimarex Energy’s dividend payout ratio (DPR) is 10.81%.
Several equities analysts have recently commented on the company. Bank of America decreased their price target on Cimarex Energy from $87.00 to $75.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Piper Jaffray Companies set a $68.00 price target on Cimarex Energy and gave the company a “hold” rating in a research note on Friday, August 16th. BMO Capital Markets lowered Cimarex Energy from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $82.00 to $67.00 in a research note on Thursday, July 11th. Citigroup decreased their target price on Cimarex Energy from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Finally, Wells Fargo & Co assumed coverage on Cimarex Energy in a research note on Monday, May 20th. They set a “market perform” rating and a $86.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. Cimarex Energy has a consensus rating of “Hold” and an average target price of $77.39.
About Cimarex Energy
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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