Teacher Retirement System of Texas boosted its holdings in Cimarex Energy (NYSE:XEC) by 26.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,678 shares of the oil and gas producer’s stock after acquiring an additional 6,862 shares during the quarter. Teacher Retirement System of Texas’ holdings in Cimarex Energy were worth $3,055,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. increased its position in Cimarex Energy by 1,015.9% in the 4th quarter. Assetmark Inc. now owns 982 shares of the oil and gas producer’s stock valued at $120,000 after acquiring an additional 894 shares during the period. Dupont Capital Management Corp acquired a new position in shares of Cimarex Energy during the 1st quarter valued at $158,000. LMR Partners LLP acquired a new position in shares of Cimarex Energy during the 4th quarter valued at $200,000. Eagle Ridge Investment Management acquired a new position in shares of Cimarex Energy during the 4th quarter valued at $204,000. Finally, Capital Advisors Inc. OK acquired a new position in shares of Cimarex Energy during the 4th quarter valued at $205,000. Hedge funds and other institutional investors own 94.63% of the company’s stock.
Several equities analysts have recently issued reports on the company. Williams Capital reiterated a “buy” rating and set a $132.00 price target on shares of Cimarex Energy in a research report on Wednesday. Morgan Stanley lowered their price target on Cimarex Energy from $138.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday. Stifel Nicolaus lifted their price target on Cimarex Energy from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Friday. ValuEngine cut Cimarex Energy from a “sell” rating to a “strong sell” rating in a research report on Monday, May 7th. Finally, Robert W. Baird set a $136.00 price target on Cimarex Energy and gave the company a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $132.91.
XEC opened at $92.08 on Friday. The firm has a market cap of $9.06 billion, a PE ratio of 19.80 and a beta of 1.19. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.49 and a quick ratio of 1.40. Cimarex Energy has a fifty-two week low of $87.98 and a fifty-two week high of $130.16.
Cimarex Energy (NYSE:XEC) last issued its earnings results on Tuesday, May 8th. The oil and gas producer reported $1.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.09. The business had revenue of $567.10 million during the quarter, compared to analysts’ expectations of $568.46 million. Cimarex Energy had a return on equity of 20.67% and a net margin of 26.97%. Cimarex Energy’s revenue was up 26.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.05 earnings per share. equities research analysts forecast that Cimarex Energy will post 7.16 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 31st. Stockholders of record on Wednesday, August 15th will be given a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, August 14th. This represents a $0.64 annualized dividend and a dividend yield of 0.70%. Cimarex Energy’s dividend payout ratio (DPR) is presently 13.76%.
In other news, CEO Thomas E. Jorden sold 2,500 shares of the firm’s stock in a transaction on Wednesday, April 18th. The stock was sold at an average price of $100.00, for a total value of $250,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harold R. Logan, Jr. sold 1,900 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $97.82, for a total value of $185,858.00. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
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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