Nissay Asset Management Corp Japan ADV grew its position in Cimarex Energy Co (NYSE:XEC) by 9.2% in the 1st quarter, Holdings Channel reports. The firm owned 8,334 shares of the oil and gas producer’s stock after purchasing an additional 703 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Cimarex Energy were worth $583,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Cimarex Energy during the fourth quarter worth about $26,000. First Bank & Trust bought a new position in Cimarex Energy during the fourth quarter worth about $28,000. Quantamental Technologies LLC bought a new position in Cimarex Energy during the first quarter worth about $31,000. CSat Investment Advisory L.P. boosted its position in Cimarex Energy by 77.7% during the fourth quarter. CSat Investment Advisory L.P. now owns 549 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 240 shares during the period. Finally, Huntington National Bank boosted its position in Cimarex Energy by 948.3% during the fourth quarter. Huntington National Bank now owns 629 shares of the oil and gas producer’s stock worth $39,000 after purchasing an additional 569 shares during the period. Institutional investors own 95.93% of the company’s stock.
A number of brokerages have weighed in on XEC. Susquehanna Bancshares lowered shares of Cimarex Energy from a “positive” rating to a “neutral” rating in a research report on Monday, February 11th. Capital One Financial lowered shares of Cimarex Energy from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, March 20th. Wells Fargo & Co began coverage on shares of Cimarex Energy in a research report on Monday. They set a “market perform” rating and a $86.00 target price for the company. Evercore ISI lowered shares of Cimarex Energy from an “outperform” rating to an “in-line” rating in a research report on Tuesday, March 12th. Finally, SunTrust Banks upgraded shares of Cimarex Energy from a “hold” rating to a “buy” rating and increased their target price for the stock from $75.00 to $85.00 in a research report on Monday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company. Cimarex Energy currently has a consensus rating of “Hold” and an average price target of $105.83.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings data on Wednesday, May 8th. The oil and gas producer reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.17). Cimarex Energy had a net margin of 26.90% and a return on equity of 19.95%. The firm had revenue of $577.00 million during the quarter, compared to the consensus estimate of $581.51 million. During the same quarter last year, the business posted $1.82 earnings per share. Cimarex Energy’s revenue was up 1.7% compared to the same quarter last year. Equities research analysts predict that Cimarex Energy Co will post 6.69 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be given a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.12%. Cimarex Energy’s dividend payout ratio (DPR) is currently 10.81%.
In other news, Director Harold R. Logan, Jr. sold 990 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $70.00, for a total value of $69,300.00. Following the completion of the transaction, the director now directly owns 7,259 shares in the company, valued at $508,130. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is currently owned by company insiders.
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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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