State of Tennessee Treasury Department grew its stake in Cimarex Energy Co (NYSE:XEC) by 6.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,706 shares of the oil and gas producer’s stock after acquiring an additional 2,625 shares during the period. State of Tennessee Treasury Department’s holdings in Cimarex Energy were worth $2,143,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of XEC. Amundi Pioneer Asset Management Inc. grew its stake in Cimarex Energy by 55.8% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 98,810 shares of the oil and gas producer’s stock worth $6,907,000 after acquiring an additional 35,389 shares in the last quarter. Bright Rock Capital Management LLC bought a new position in Cimarex Energy in the 2nd quarter worth about $712,000. Valeo Financial Advisors LLC grew its stake in Cimarex Energy by 319.8% in the 2nd quarter. Valeo Financial Advisors LLC now owns 487 shares of the oil and gas producer’s stock worth $29,000 after acquiring an additional 371 shares in the last quarter. Addison Capital Co grew its stake in Cimarex Energy by 19.4% in the 2nd quarter. Addison Capital Co now owns 24,276 shares of the oil and gas producer’s stock worth $1,440,000 after acquiring an additional 3,943 shares in the last quarter. Finally, First Citizens Bank & Trust Co. grew its stake in Cimarex Energy by 2.3% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 9,633 shares of the oil and gas producer’s stock worth $572,000 after acquiring an additional 217 shares in the last quarter. Institutional investors and hedge funds own 95.99% of the company’s stock.

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 firm has a 50 day moving average of $45.59 and a 200 day 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. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 6.29 and a beta of 1.32.

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

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

A number of research firms have recently issued reports on XEC. ValuEngine upgraded shares of Cimarex Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Imperial Capital dropped their price objective on shares of Cimarex Energy from $58.00 to $51.00 and set an “in-line” rating on the stock in a research note on Wednesday, August 7th. Piper Jaffray Companies set a $68.00 price objective on shares of Cimarex Energy and gave the company a “hold” rating in a research note on Friday, August 16th. Wells Fargo & Co increased their price objective on shares of Cimarex Energy from $64.00 to $65.00 and gave the company a “market perform” rating in a research note on Friday, September 20th. Finally, Bank of America dropped their price objective on shares of Cimarex Energy from $87.00 to $75.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $73.94.

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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