Mitsubishi UFJ Trust & Banking Corp Trims Position in Cimarex Energy Co (XEC)

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Mitsubishi UFJ Trust & Banking Corp decreased its holdings in Cimarex Energy Co (NYSE:XEC) by 61.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,647 shares of the oil and gas producer’s stock after selling 121,268 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Cimarex Energy were worth $6,938,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Mount Yale Investment Advisors LLC purchased a new position in Cimarex Energy during the 2nd quarter worth $115,000. JNBA Financial Advisors purchased a new position in Cimarex Energy during the 3rd quarter worth $143,000. Point72 Hong Kong Ltd purchased a new position in Cimarex Energy during the 2nd quarter worth $161,000. Eagle Boston Investment Management Inc. purchased a new position in Cimarex Energy during the 2nd quarter worth $204,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Cimarex Energy during the 3rd quarter worth $235,000. Hedge funds and other institutional investors own 98.53% of the company’s stock.

Shares of XEC opened at $75.22 on Friday. The company has a quick ratio of 1.62, a current ratio of 1.69 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $7.74 billion, a PE ratio of 16.18 and a beta of 1.10. Cimarex Energy Co has a 52-week low of $73.01 and a 52-week high of $130.16.

Cimarex Energy (NYSE:XEC) last announced its quarterly earnings results on Tuesday, November 6th. The oil and gas producer reported $1.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.52 by $0.47. The business had revenue of $591.50 million during the quarter, compared to the consensus estimate of $561.67 million. Cimarex Energy had a net margin of 28.70% and a return on equity of 23.33%. The business’s revenue was up 27.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.09 EPS. On average, equities research analysts forecast that Cimarex Energy Co will post 7.14 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 15th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.96%. Cimarex Energy’s dividend payout ratio is presently 15.48%.

A number of brokerages have commented on XEC. MKM Partners began coverage on shares of Cimarex Energy in a research report on Wednesday. They set a “buy” rating and a $108.00 price objective for the company. Williams Capital set a $129.00 price objective on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Monday, November 19th. Jefferies Financial Group set a $117.00 price objective on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Tuesday, November 20th. Cowen began coverage on shares of Cimarex Energy in a research report on Thursday, November 29th. They set a “market perform” rating and a $95.00 price objective for the company. Finally, Imperial Capital restated an “in-line” rating on shares of Cimarex Energy in a research report on Tuesday, November 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $123.90.

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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, 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.

Further Reading: How to Track your Portfolio in Google Finance

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Institutional Ownership by Quarter for Cimarex Energy (NYSE:XEC)

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