PFG Advisors Purchases New Stake in Cimarex Energy Co (XEC)

PFG Advisors bought a new stake in Cimarex Energy Co (NYSE:XEC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,945 shares of the oil and gas producer’s stock, valued at approximately $215,000.

Several other hedge funds also recently modified their holdings of the company. Oaktree Capital Management LP increased its holdings in Cimarex Energy by 142.1% during the 4th quarter. Oaktree Capital Management LP now owns 341,630 shares of the oil and gas producer’s stock valued at $21,062,000 after acquiring an additional 200,500 shares in the last quarter. Yaupon Capital Management LP acquired a new stake in shares of Cimarex Energy in the fourth quarter worth approximately $4,877,000. Harbor Advisors LLC acquired a new position in Cimarex Energy during the fourth quarter valued at approximately $216,000. Legal & General Group Plc lifted its position in Cimarex Energy by 7.9% during the fourth quarter. Legal & General Group Plc now owns 461,128 shares of the oil and gas producer’s stock valued at $28,423,000 after buying an additional 33,840 shares in the last quarter. Finally, CSat Investment Advisory L.P. lifted its position in Cimarex Energy by 77.7% during the fourth quarter. CSat Investment Advisory L.P. now owns 549 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 240 shares in the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

In other Cimarex Energy news, Director Harold R. Logan, Jr. sold 990 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $70.00, for a total transaction of $69,300.00. Following the completion of the transaction, the director now directly owns 7,259 shares in the company, valued at $508,130. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

A number of research analysts have weighed in on XEC shares. Morgan Stanley reduced their price target on shares of Cimarex Energy from $101.00 to $96.00 and set an “overweight” rating on the stock in a research report on Thursday, March 21st. Barclays started coverage on shares of Cimarex Energy in a research note on Wednesday, January 16th. They set an “equal weight” rating and a $81.00 price objective on the stock. Williams Capital set a $104.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a research note on Tuesday, January 22nd. Susquehanna Bancshares upgraded shares of Cimarex Energy from a “neutral” rating to a “positive” rating and lifted their price target for the stock from $74.00 to $88.00 in a research note on Friday, February 8th. Finally, Ifs Securities reiterated a “market perform” rating on shares of Cimarex Energy in a research note on Sunday, February 3rd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $108.16.

Shares of XEC traded up $0.28 during mid-day trading on Friday, hitting $69.30. The company’s stock had a trading volume of 1,102,194 shares, compared to its average volume of 1,412,658. Cimarex Energy Co has a one year low of $55.62 and a one year high of $103.91. The company has a current ratio of 2.01, a quick ratio of 1.93 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $7.03 billion, a price-to-earnings ratio of 9.36 and a beta of 1.33.

Cimarex Energy (NYSE:XEC) last posted its quarterly earnings data on Wednesday, February 20th. The oil and gas producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.23. Cimarex Energy had a return on equity of 23.51% and a net margin of 33.85%. The company had revenue of $624.10 million during the quarter, compared to analysts’ expectations of $620.20 million. During the same period in the prior year, the business earned $1.47 earnings per share. Cimarex Energy’s revenue for the quarter was up 13.3% compared to the same quarter last year. Equities analysts predict that Cimarex Energy Co will post 6.22 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.20 per share. This is a positive change from Cimarex Energy’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 1.15%. The ex-dividend date is Tuesday, May 14th. Cimarex Energy’s dividend payout ratio is currently 9.73%.

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About Cimarex Energy

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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