Cullen Frost Bankers Inc. bought a new stake in shares of Cimarex Energy Co (NYSE:XEC) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 1,556 shares of the oil and gas producer’s stock, valued at approximately $109,000.
A number of other large investors have also made changes to their positions in XEC. Norges Bank acquired a new position in Cimarex Energy during the 4th quarter valued at about $52,408,000. Victory Capital Management Inc. grew its stake in Cimarex Energy by 26.3% during the 4th quarter. Victory Capital Management Inc. now owns 2,998,167 shares of the oil and gas producer’s stock valued at $184,836,000 after purchasing an additional 624,486 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in Cimarex Energy by 7.9% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 6,068,484 shares of the oil and gas producer’s stock valued at $374,122,000 after purchasing an additional 445,153 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Cimarex Energy by 53.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,259,384 shares of the oil and gas producer’s stock valued at $77,641,000 after purchasing an additional 439,290 shares during the last quarter. Finally, Brown Advisory Inc. grew its stake in Cimarex Energy by 73.1% during the 4th quarter. Brown Advisory Inc. now owns 653,917 shares of the oil and gas producer’s stock valued at $40,314,000 after purchasing an additional 276,112 shares during the last quarter. 94.35% of the stock is currently owned by institutional investors.
In other news, Director Harold R. Logan, Jr. sold 990 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $70.00, for a total value of $69,300.00. Following the sale, the director now owns 7,259 shares in the company, valued at $508,130. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is owned by corporate insiders.
Shares of XEC opened at $67.04 on Tuesday. Cimarex Energy Co has a 52 week low of $55.62 and a 52 week high of $103.91. The company has a current ratio of 2.01, a quick ratio of 1.93 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $6.71 billion, a PE ratio of 9.06 and a beta of 1.31.
Cimarex Energy (NYSE:XEC) last issued its earnings results on Wednesday, February 20th. The oil and gas producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.23. Cimarex Energy had a return on equity of 23.51% and a net margin of 33.85%. The firm had revenue of $624.10 million for the quarter, compared to the consensus estimate of $620.20 million. During the same quarter in the prior year, the business earned $1.47 earnings per share. The company’s revenue was up 13.3% compared to the same quarter last year. On average, research analysts predict that Cimarex Energy Co will post 6.75 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be paid a $0.20 dividend. This is an increase from Cimarex Energy’s previous quarterly dividend of $0.18. The ex-dividend date is Tuesday, May 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.19%. Cimarex Energy’s dividend payout ratio is presently 9.73%.
Several analysts have weighed in on XEC shares. Morgan Stanley dropped their price target on Cimarex Energy from $101.00 to $96.00 and set an “overweight” rating on the stock in a research note on Thursday, March 21st. 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 target on the stock. Williams Capital set a $104.00 price target on Cimarex Energy and gave the company a “buy” rating in a research note on Tuesday, January 22nd. Susquehanna Bancshares upgraded Cimarex Energy from a “neutral” rating to a “positive” rating and boosted their price target for the company from $74.00 to $88.00 in a research note on Friday, February 8th. Finally, Ifs Securities reiterated a “market perform” rating on shares of Cimarex Energy in a research note on Sunday, February 3rd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company’s stock. Cimarex Energy has an average rating of “Hold” and a consensus target price of $107.50.
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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, 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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