Value Holdings Management CO. LLC Has $16.61 Million Holdings in Cimarex Energy Co (XEC)
Value Holdings Management CO. LLC raised its stake in Cimarex Energy Co (NYSE:XEC) by 1.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 178,672 shares of the oil and gas producer’s stock after acquiring an additional 2,000 shares during the period. Cimarex Energy makes up 5.2% of Value Holdings Management CO. LLC’s portfolio, making the stock its 8th largest holding. Value Holdings Management CO. LLC’s holdings in Cimarex Energy were worth $16,606,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Paloma Partners Management Co increased its holdings in shares of Cimarex Energy by 20.4% in the 2nd quarter. Paloma Partners Management Co now owns 71,280 shares of the oil and gas producer’s stock worth $7,252,000 after buying an additional 12,079 shares during the last quarter. Swiss National Bank increased its holdings in shares of Cimarex Energy by 3.5% in the 2nd quarter. Swiss National Bank now owns 315,161 shares of the oil and gas producer’s stock worth $32,064,000 after buying an additional 10,600 shares during the last quarter. Investec Asset Management LTD increased its holdings in shares of Cimarex Energy by 173.1% in the 2nd quarter. Investec Asset Management LTD now owns 118,291 shares of the oil and gas producer’s stock worth $12,035,000 after buying an additional 74,981 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Cimarex Energy by 41.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 48,423 shares of the oil and gas producer’s stock worth $4,927,000 after buying an additional 14,213 shares during the last quarter. Finally, Advanced Asset Management Advisors Inc bought a new stake in shares of Cimarex Energy in the 2nd quarter worth about $621,000. Institutional investors own 98.47% of the company’s stock.
A number of research firms have recently weighed in on XEC. ValuEngine upgraded shares of Cimarex Energy from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 9th. Williams Capital restated a “buy” rating and issued a $134.00 target price on shares of Cimarex Energy in a report on Wednesday, August 8th. Stifel Nicolaus set a $175.00 target price on shares of Cimarex Energy and gave the stock a “buy” rating in a report on Tuesday, August 7th. JPMorgan Chase & Co. downgraded shares of Cimarex Energy from an “overweight” rating to a “neutral” rating and set a $110.00 target price on the stock. in a report on Wednesday, August 8th. Finally, Morgan Stanley reduced their target price on shares of Cimarex Energy from $123.00 to $118.00 and set a “buy” rating on the stock in a report on Wednesday, September 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the company. Cimarex Energy currently has a consensus rating of “Buy” and a consensus price target of $130.25.
Shares of NYSE:XEC opened at $83.14 on Wednesday. The stock has a market cap of $8.42 billion, a P/E ratio of 17.88 and a beta of 1.04. Cimarex Energy Co has a 12 month low of $77.63 and a 12 month high of $130.16. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.62 and a current ratio of 1.69.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings results on Tuesday, November 6th. The oil and gas producer reported $1.99 EPS for the quarter, beating the consensus estimate of $1.52 by $0.47. The company had revenue of $591.50 million for the quarter, compared to the consensus estimate of $561.67 million. Cimarex Energy had a net margin of 28.70% and a return on equity of 23.33%. The firm’s revenue was up 27.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 EPS. On average, equities analysts forecast that Cimarex Energy Co will post 7.18 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.87%. This is an increase from Cimarex Energy’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Wednesday, November 14th. Cimarex Energy’s dividend payout ratio is presently 15.48%.
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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, 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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