PNC Financial Services Group Inc. decreased its holdings in shares of Cimarex Energy Co (NYSE:XEC) by 13.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,427 shares of the oil and gas producer’s stock after selling 2,355 shares during the period. PNC Financial Services Group Inc.’s holdings in Cimarex Energy were worth $951,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the stock. Boston Partners raised its position in Cimarex Energy by 2.5% during the fourth quarter. Boston Partners now owns 5,820,642 shares of the oil and gas producer’s stock valued at $358,843,000 after purchasing an additional 141,689 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in Cimarex Energy by 4.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 5,623,331 shares of the oil and gas producer’s stock valued at $522,632,000 after purchasing an additional 227,157 shares in the last quarter. Capital International Investors purchased a new stake in Cimarex Energy during the third quarter valued at about $418,230,000. International Value Advisers LLC raised its position in Cimarex Energy by 13.5% during the third quarter. International Value Advisers LLC now owns 3,061,838 shares of the oil and gas producer’s stock valued at $284,567,000 after purchasing an additional 363,877 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Cimarex Energy by 26.3% during the fourth quarter. Victory Capital Management Inc. now owns 2,998,167 shares of the oil and gas producer’s stock valued at $184,836,000 after purchasing an additional 624,486 shares in the last quarter. 99.60% of the stock is owned by institutional investors.
XEC has been the topic of a number of research analyst reports. Imperial Capital restated an “in-line” rating on shares of Cimarex Energy in a report on Tuesday, November 20th. Jefferies Financial Group set a $117.00 price objective on Cimarex Energy and gave the company a “buy” rating in a research report on Tuesday, November 20th. Ifs Securities reissued a “market perform” rating on shares of Cimarex Energy in a research report on Sunday, February 3rd. Susquehanna Bancshares cut Cimarex Energy from a “positive” rating to a “neutral” rating in a research report on Monday, February 11th. Finally, Mizuho started coverage on Cimarex Energy in a research report on Tuesday, January 29th. They issued a “neutral” rating and a $80.00 price target on the stock. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $108.42.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings data on Wednesday, February 20th. The oil and gas producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.23. The business had revenue of $624.10 million for the quarter, compared to analysts’ expectations of $620.20 million. Cimarex Energy had a return on equity of 23.51% and a net margin of 33.85%. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.47 EPS. As a group, analysts forecast that Cimarex Energy Co will post 5.73 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This is a boost from Cimarex Energy’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 1.13%. Cimarex Energy’s dividend payout ratio is 9.73%.
Cimarex Energy 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.
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