Schwab Charles Investment Management Inc. Buys 9,051 Shares of Cimarex Energy Co (XEC)

Schwab Charles Investment Management Inc. increased its stake in Cimarex Energy Co (NYSE:XEC) by 3.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 quarter.

A number of other large investors also recently modified their holdings of the company. Cleararc Capital Inc. increased its stake in shares of 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 valued at $280,000 after buying an additional 30 shares during the period. Eagle Ridge Investment Management increased its stake in shares of 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 valued at $206,000 after buying an additional 50 shares during the period. Daiwa Securities Group Inc. increased 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 during the period. Pacer Advisors Inc. increased 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 during the period. Finally, Ladenburg Thalmann Financial Services Inc. increased 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 during the period. Institutional investors own 93.12% of the company’s stock.

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

Cimarex Energy Co (NYSE XEC) traded down 0.39% during mid-day trading on Monday, reaching $93.45. The company’s stock had a trading volume of 1,211,845 shares. Cimarex Energy Co has a 52 week low of $92.58 and a 52 week high of $146.96. The stock’s market capitalization is $8.73 billion. The firm has a 50-day moving average of $110.52 and a 200-day moving average of $124.80.

Cimarex Energy (NYSE:XEC) last issued its earnings results on Wednesday, May 10th. The oil and gas producer reported $1.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.20. Cimarex Energy had a positive return on equity of 9.03% and a negative net margin of 7.78%. The company had revenue of $447.20 million during the quarter, compared to the consensus estimate of $423.62 million. During the same period in the previous year, the firm posted ($0.40) earnings per share. Cimarex Energy’s quarterly revenue was up 85.9% compared to the same quarter last year. On average, equities research analysts expect that Cimarex Energy Co will post $4.66 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.32 dividend on an annualized basis and a yield of 0.34%. Cimarex Energy’s payout ratio is currently -25.20%.

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Several equities research analysts have weighed in on the company. Williams Capital upgraded Cimarex Energy from a “hold” rating to a “buy” rating and upped their price target for the stock from $148.00 to $160.00 in a report on Monday, May 15th. They noted that the move was a valuation call. Jefferies Group LLC set a $119.00 price objective on Cimarex Energy and gave the company a “hold” rating in a report on Wednesday, May 17th. KLR Group reiterated a “buy” rating and issued a $151.00 price objective (up previously from $149.00) on shares of Cimarex Energy in a report on Wednesday, May 17th. Barclays PLC reiterated an “overweight” rating and issued a $135.00 price objective (up previously from $129.00) on shares of Cimarex Energy in a report on Monday, May 15th. Finally, Piper Jaffray Companies reiterated a “neutral” rating and issued a $161.00 price objective on shares of Cimarex Energy in a report on Wednesday, June 7th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $144.29.

In other news, Director L Paul Teague sold 1,038 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $120.00, for a total transaction of $124,560.00. Following the completion of the transaction, the director now directly owns 44,394 shares in the company, valued at $5,327,280. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Thomas E. Jorden sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $116.40, for a total value of $291,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,538 shares of company stock valued at $1,001,760. 1.70% of the stock is currently owned by insiders.

Cimarex Energy Company Profile

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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