Nomura Asset Management Co. Ltd. boosted its position in Cimarex Energy Co (NYSE:XEC) by 12.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,419 shares of the oil and gas producer’s stock after purchasing an additional 1,757 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Cimarex Energy were worth $1,148,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quantamental Technologies LLC bought a new position in Cimarex Energy in the first quarter valued at about $31,000. CSat Investment Advisory L.P. raised its stake in Cimarex Energy by 77.7% during the 4th quarter. CSat Investment Advisory L.P. now owns 549 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 240 shares during the period. Bremer Trust National Association bought a new stake in Cimarex Energy during the 4th quarter valued at approximately $43,000. Bremer Bank National Association bought a new stake in Cimarex Energy during the 1st quarter valued at approximately $48,000. Finally, Private Capital Group LLC raised its stake in Cimarex Energy by 233.6% during the 1st quarter. Private Capital Group LLC now owns 814 shares of the oil and gas producer’s stock valued at $57,000 after purchasing an additional 570 shares during the period. Institutional investors and hedge funds own 93.28% of the company’s stock.
NYSE XEC traded up $0.72 on Monday, reaching $60.05. 1,895,700 shares of the stock traded hands, compared to its average volume of 1,461,450. The company has a current ratio of 0.66, a quick ratio of 0.59 and a debt-to-equity ratio of 0.58. The stock’s fifty day simple moving average is $60.06. The company has a market cap of $6.02 billion, a P/E ratio of 8.11 and a beta of 1.31. Cimarex Energy Co has a 12 month low of $53.45 and a 12 month high of $103.73.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Wednesday, August 14th. Cimarex Energy’s payout ratio is 10.81%.
Several research firms have weighed in on XEC. Morgan Stanley cut their price target on Cimarex Energy from $101.00 to $96.00 and set an “overweight” rating for the company in a report on Thursday, March 21st. SunTrust Banks set a $75.00 price target on Cimarex Energy and gave the company a “hold” rating in a report on Tuesday, April 23rd. Capital One Financial cut Cimarex Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, March 20th. Evercore ISI cut Cimarex Energy from an “outperform” rating to an “in-line” rating in a report on Tuesday, March 12th. Finally, Wells Fargo & Co initiated coverage on Cimarex Energy in a report on Monday, May 20th. They issued a “market perform” rating and a $86.00 target price for the company. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the stock. Cimarex Energy has an average rating of “Hold” and a consensus target price of $99.89.
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, 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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