Franklin Resources Inc. grew its stake in Cimarex Energy Co (NYSE:XEC) by 137.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,273 shares of the oil and gas producer’s stock after purchasing an additional 9,984 shares during the quarter. Franklin Resources Inc.’s holdings in Cimarex Energy were worth $1,615,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of XEC. US Bancorp DE lifted its stake in shares of Cimarex Energy by 12.9% in the 4th quarter. US Bancorp DE now owns 14,454 shares of the oil and gas producer’s stock valued at $1,763,000 after purchasing an additional 1,648 shares during the period. Teacher Retirement System of Texas acquired a new stake in Cimarex Energy during the 4th quarter worth $3,150,000. California Public Employees Retirement System raised its stake in Cimarex Energy by 6.8% during the 4th quarter. California Public Employees Retirement System now owns 208,662 shares of the oil and gas producer’s stock worth $25,459,000 after buying an additional 13,315 shares during the period. Sei Investments Co. raised its stake in Cimarex Energy by 0.7% during the 4th quarter. Sei Investments Co. now owns 118,427 shares of the oil and gas producer’s stock worth $14,450,000 after buying an additional 878 shares during the period. Finally, Retirement Systems of Alabama raised its stake in Cimarex Energy by 18.7% during the 4th quarter. Retirement Systems of Alabama now owns 185,664 shares of the oil and gas producer’s stock worth $22,653,000 after buying an additional 29,239 shares during the period. 94.85% of the stock is currently owned by institutional investors.
XEC has been the topic of several research analyst reports. Williams Capital reaffirmed a “buy” rating and set a $132.00 price objective on shares of Cimarex Energy in a research note on Wednesday, May 23rd. Bank of America downgraded Cimarex Energy from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $130.13 to $129.00 in a research note on Thursday, May 10th. BMO Capital Markets dropped their price objective on Cimarex Energy to $125.00 and set an “outperform” rating on the stock in a research note on Friday, February 16th. SunTrust Banks set a $130.00 price objective on Cimarex Energy and gave the stock a “buy” rating in a research note on Monday, April 16th. Finally, Morgan Stanley dropped their price objective on Cimarex Energy from $157.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, April 20th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and nineteen have assigned a buy rating to the stock. Cimarex Energy currently has a consensus rating of “Buy” and an average target price of $133.71.
XEC opened at $85.06 on Friday. Cimarex Energy Co has a 1 year low of $82.45 and a 1 year high of $130.16. The stock has a market capitalization of $8.46 billion, a price-to-earnings ratio of 18.29 and a beta of 1.18. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.40 and a current ratio of 1.49.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings results on Tuesday, May 8th. The oil and gas producer reported $1.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.09. Cimarex Energy had a return on equity of 20.67% and a net margin of 26.97%. The firm had revenue of $567.10 million for the quarter, compared to the consensus estimate of $568.46 million. During the same quarter last year, the business posted $1.05 EPS. The company’s revenue for the quarter was up 26.8% on a year-over-year basis. analysts expect that Cimarex Energy Co will post 7.09 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 31st. Shareholders of record on Wednesday, August 15th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Tuesday, August 14th. Cimarex Energy’s dividend payout ratio is 13.76%.
In related news, Director Lisa A. Stewart acquired 722 shares of the firm’s stock in a transaction dated Friday, June 1st. The stock was bought at an average price of $89.98 per share, for a total transaction of $64,965.56. Following the acquisition, the director now directly owns 6,576 shares of the company’s stock, valued at $591,708.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas E. Jorden sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, April 18th. The shares were sold at an average price of $100.00, for a total value of $250,000.00. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
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, 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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