November 10, 2019 at 1:48 pm

Retirement Systems of Alabama Trims Position in Cimarex Energy Co (NYSE:XEC)

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Retirement Systems of Alabama cut its position in Cimarex Energy Co (NYSE:XEC) by 6.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,430 shares of the oil and gas producer’s stock after selling 2,874 shares during the period. Retirement Systems of Alabama’s holdings in Cimarex Energy were worth $2,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Valeo Financial Advisors LLC increased its stake in shares of Cimarex Energy by 319.8% in the second quarter. Valeo Financial Advisors LLC now owns 487 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 371 shares in the last quarter. Advisory Services Network LLC increased its stake in shares of Cimarex Energy by 1,170.2% in the second quarter. Advisory Services Network LLC now owns 597 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 550 shares in the last quarter. Signaturefd LLC increased its stake in shares of Cimarex Energy by 178.2% in the third quarter. Signaturefd LLC now owns 971 shares of the oil and gas producer’s stock worth $47,000 after purchasing an additional 622 shares in the last quarter. CSat Investment Advisory L.P. increased its stake in shares of Cimarex Energy by 84.5% in the second quarter. CSat Investment Advisory L.P. now owns 1,127 shares of the oil and gas producer’s stock worth $67,000 after purchasing an additional 516 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of Cimarex Energy in the second quarter worth $78,000. 95.99% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on XEC. Piper Jaffray Companies set a $68.00 price objective on shares of Cimarex Energy and gave the stock a “hold” rating in a research note on Friday, August 16th. Bank of America cut their target price on shares of Cimarex Energy from $87.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. KeyCorp cut their target price on shares of Cimarex Energy from $60.00 to $54.00 and set an “overweight” rating for the company in a research note on Tuesday, October 15th. Citigroup cut their target price on shares of Cimarex Energy from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Finally, SunTrust Banks set a $60.00 target price on shares of Cimarex Energy and gave the company a “buy” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $73.94.

Shares of NYSE:XEC opened at $46.54 on Friday. Cimarex Energy Co has a 52 week low of $37.19 and a 52 week high of $91.25. The stock has a market capitalization of $4.68 billion, a P/E ratio of 6.29 and a beta of 1.32. The firm has a fifty day simple moving average of $45.59 and a two-hundred day simple moving average of $52.12. The company has a quick ratio of 0.57, a current ratio of 0.70 and a debt-to-equity ratio of 0.57.

Cimarex Energy (NYSE:XEC) last issued its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). Cimarex Energy had a return on equity of 13.02% and a net margin of 21.13%. The business had revenue of $582.31 million during the quarter, compared to analysts’ expectations of $575.31 million. During the same period in the previous year, the business earned $1.99 earnings per share. The business’s quarterly revenue was down 1.6% on a year-over-year basis. On average, analysts expect that Cimarex Energy Co will post 4.13 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.72%. Cimarex Energy’s payout ratio is currently 10.81%.

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

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