Schwab Charles Investment Management Inc. increased its stake in shares of Cimarex Energy Co (NYSE:XEC) by 3.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 292,516 shares of the oil and gas producer’s stock after buying an additional 9,051 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.31% of Cimarex Energy worth $34,953,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Cleararc Capital Inc. raised its position in Cimarex Energy by 1.3% in the first quarter. Cleararc Capital Inc. now owns 2,347 shares of the oil and gas producer’s stock worth $280,000 after buying an additional 30 shares in the last quarter. Eagle Ridge Investment Management boosted its stake in Cimarex Energy by 3.0% in the first quarter. Eagle Ridge Investment Management now owns 1,720 shares of the oil and gas producer’s stock worth $206,000 after buying an additional 50 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Cimarex Energy by 2.0% in the first quarter. Daiwa Securities Group Inc. now owns 2,550 shares of the oil and gas producer’s stock valued at $305,000 after buying an additional 50 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Cimarex Energy by 3.2% in the first quarter. Pacer Advisors Inc. now owns 1,787 shares of the oil and gas producer’s stock valued at $214,000 after buying an additional 55 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Cimarex Energy by 8.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 882 shares of the oil and gas producer’s stock valued at $122,000 after buying an additional 69 shares in the last quarter. 92.71% of the stock is currently owned by institutional investors.
Shares of Cimarex Energy Co (XEC) traded down 0.52% on Friday, reaching $91.60. 979,259 shares of the company’s stock were exchanged. The firm’s market cap is $8.55 billion. Cimarex Energy Co has a one year low of $89.49 and a one year high of $146.96. The company has a 50 day moving average price of $104.05 and a 200 day moving average price of $121.82.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings data on Wednesday, May 10th. The oil and gas producer reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.20. The company had revenue of $447.20 million for the quarter, compared to the consensus estimate of $423.62 million. Cimarex Energy had a positive return on equity of 9.03% and a negative net margin of 7.78%. Cimarex Energy’s quarterly revenue was up 85.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.40) EPS. Analysts expect that Cimarex Energy Co will post $4.54 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend is Friday, August 11th. Cimarex Energy’s payout ratio is -25.20%.
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Several analysts have recently commented on the stock. Scotiabank set a $164.00 price target on shares of Cimarex Energy and gave the company a “buy” rating in a research note on Monday, March 27th. Seaport Global Securities lowered shares of Cimarex Energy from a “buy” rating to a “neutral” rating in a report on Friday, March 31st. Jefferies Group LLC restated a “hold” rating and issued a $123.00 price objective on shares of Cimarex Energy in a report on Tuesday, April 18th. Citigroup Inc. reiterated a “buy” rating and issued a $166.00 target price (up from $164.00) on shares of Cimarex Energy in a report on Saturday, April 22nd. Finally, Barclays PLC reissued an “overweight” rating and set a $129.00 price objective (down previously from $139.00) on shares of Cimarex Energy in a research report on Saturday, April 22nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company’s stock. Cimarex Energy presently has an average rating of “Hold” and an average price target of $140.33.
In other Cimarex Energy news, CEO Thomas E. Jorden sold 2,500 shares of the stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $116.40, for a total value of $291,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Stephen P. Bell sold 5,000 shares of the firm’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $117.24, for a total value of $586,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 8,538 shares of company stock worth $1,001,760 in the last three months. Corporate insiders own 1.70% of the company’s stock.
About Cimarex Energy
Cimarex Energy Co is an independent oil and gas exploration and production company. The Company operates in exploration and production (E&P) segment. Its operations are located in Oklahoma, Texas and New Mexico. Its E&P activities take place primarily in two areas: the Permian Basin and the Mid-Continent region.
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