Oppenheimer & Co. Inc. reduced its position in shares of Cimarex Energy Co (NYSE:XEC) by 63.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 3,731 shares of the oil and gas producer’s stock after selling 6,345 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Cimarex Energy were worth $221,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Valeo Financial Advisors LLC boosted its position in shares of Cimarex Energy by 319.8% during the 2nd quarter. Valeo Financial Advisors LLC now owns 487 shares of the oil and gas producer’s stock valued at $29,000 after acquiring an additional 371 shares during the last quarter. Quantamental Technologies LLC bought a new position in shares of Cimarex Energy during the 1st quarter valued at approximately $31,000. Nvwm LLC boosted its position in shares of Cimarex Energy by 462.0% during the 1st quarter. Nvwm LLC now owns 517 shares of the oil and gas producer’s stock valued at $36,000 after acquiring an additional 425 shares during the last quarter. Advisory Services Network LLC lifted its position in Cimarex Energy by 1,170.2% in the second quarter. Advisory Services Network LLC now owns 597 shares of the oil and gas producer’s stock worth $36,000 after buying an additional 550 shares during the last quarter. Finally, Bremer Bank National Association bought a new stake in Cimarex Energy in the first quarter worth $48,000. Hedge funds and other institutional investors own 96.14% of the company’s stock.
A number of analysts recently issued reports on the company. Bank of America lowered their price target on Cimarex Energy from $87.00 to $75.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Citigroup lowered their price target on Cimarex Energy from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Imperial Capital lowered their price target on Cimarex Energy from $58.00 to $51.00 and set an “in-line” rating for the company in a research report on Wednesday, August 7th. Capital One Financial upgraded Cimarex Energy from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 23rd. Finally, KeyCorp assumed coverage on Cimarex Energy in a research report on Thursday, June 27th. They issued an “overweight” rating and a $66.00 price target for the company. One equities research 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 presently has an average rating of “Hold” and a consensus target price of $77.39.
Cimarex Energy (NYSE:XEC) last released its earnings results on Monday, August 5th. The oil and gas producer reported $0.82 earnings per share for the quarter, missing the 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 business had revenue of $546.46 million for the quarter, compared to the consensus estimate of $594.90 million. During the same quarter last year, the business posted $1.59 earnings per share. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. Equities analysts forecast that Cimarex Energy Co will post 4.68 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given 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 dividend yield of 1.73%. Cimarex Energy’s dividend payout ratio (DPR) is 10.81%.
Cimarex Energy Company 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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