Riverhead Capital Management LLC boosted its position in Cimarex Energy Co (NYSE:XEC) by 32.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 78,444 shares of the oil and gas producer’s stock after purchasing an additional 19,300 shares during the period. Riverhead Capital Management LLC’s holdings in Cimarex Energy were worth $5,483,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in XEC. Boston Partners grew its stake in shares of Cimarex Energy by 20.1% during the 1st quarter. Boston Partners now owns 6,989,669 shares of the oil and gas producer’s stock valued at $488,578,000 after buying an additional 1,169,027 shares during the period. BlackRock Inc. grew its stake in shares of Cimarex Energy by 7.6% during the 1st quarter. BlackRock Inc. now owns 6,979,085 shares of the oil and gas producer’s stock valued at $487,836,000 after buying an additional 494,463 shares during the period. Diamond Hill Capital Management Inc. grew its stake in shares of 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 buying an additional 445,153 shares during the period. Victory Capital Management Inc. grew its stake in shares of Cimarex Energy by 4.9% during the 1st quarter. Victory Capital Management Inc. now owns 3,144,463 shares of the oil and gas producer’s stock valued at $219,798,000 after buying an additional 146,296 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Cimarex Energy by 24.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,565,248 shares of the oil and gas producer’s stock valued at $109,420,000 after buying an additional 305,864 shares during the period. 93.59% of the stock is owned by hedge funds and other institutional investors.
XEC has been the subject of several research reports. SunTrust Banks set a $75.00 price objective on shares of Cimarex Energy and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Morgan Stanley set a $101.00 price target on shares of Cimarex Energy and gave the company a “buy” rating in a report on Friday, February 22nd. Imperial Capital reissued an “outperform” rating and issued a $83.00 price target (up from $79.00) on shares of Cimarex Energy in a report on Friday, February 22nd. Evercore ISI downgraded shares of Cimarex Energy from an “outperform” rating to an “in-line” rating in a report on Tuesday, March 12th. Finally, Capital One Financial downgraded shares of Cimarex Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $104.17.
Shares of NYSE:XEC traded up $0.93 during midday trading on Thursday, reaching $55.30. 524,406 shares of the company’s stock were exchanged, compared to its average volume of 1,452,038. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 7.47 and a beta of 1.36. Cimarex Energy Co has a 12 month low of $54.07 and a 12 month high of $103.91. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.59 and a current ratio of 0.66.
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). The business had revenue of $577.00 million for the quarter, compared to the consensus estimate of $581.51 million. Cimarex Energy had a return on equity of 19.95% and a net margin of 26.90%. Cimarex Energy’s revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.82 earnings per share. Sell-side analysts forecast that Cimarex Energy Co will post 6.06 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 15th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Wednesday, August 14th. Cimarex Energy’s dividend payout ratio (DPR) is currently 10.81%.
In related news, Director Harold R. Logan, Jr. sold 990 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $70.00, for a total transaction of $69,300.00. Following the completion of the sale, the director now owns 7,259 shares in the company, valued at approximately $508,130. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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, 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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