Cimarex Energy Co (NYSE:XEC) Holdings Cut by Meadow Creek Investment Management LLC
Meadow Creek Investment Management LLC lowered its stake in shares of Cimarex Energy Co (NYSE:XEC) by 9.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 97,886 shares of the oil and gas producer’s stock after selling 10,506 shares during the period. Meadow Creek Investment Management LLC owned about 0.10% of Cimarex Energy worth $5,808,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the business. Advisory Services Network LLC grew its stake in 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 valued at $36,000 after purchasing an additional 550 shares in the last quarter. Weiss Asset Management LP acquired a new stake in shares of Cimarex Energy during the 1st quarter valued at about $1,903,000. RR Advisors LLC acquired a new stake in shares of Cimarex Energy during the 1st quarter valued at about $2,535,000. Nvwm LLC lifted its holdings in shares of Cimarex Energy by 462.0% during the 1st quarter. Nvwm LLC now owns 517 shares of the oil and gas producer’s stock valued at $36,000 after buying an additional 425 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of Cimarex Energy by 2.6% in the 2nd quarter. CIBC Asset Management Inc now owns 11,011 shares of the oil and gas producer’s stock valued at $653,000 after buying an additional 275 shares in the last quarter. 96.14% of the stock is owned by institutional investors.
XEC has been the topic of several recent research reports. Wells Fargo & Co initiated coverage on shares of Cimarex Energy in a research report on Monday, May 20th. They set a “market perform” rating and a $86.00 price objective on the stock. Capital One Financial upgraded shares of Cimarex Energy from an “equal weight” rating to an “overweight” rating in a research note on Thursday, May 23rd. KeyCorp began coverage on shares of Cimarex Energy in a report on Thursday, June 27th. They set an “overweight” rating and a $66.00 price target on the stock. MKM Partners reduced their price objective on shares of Cimarex Energy from $70.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Bank of America decreased their price objective on shares of Cimarex Energy from $87.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company’s stock. Cimarex Energy currently has a consensus rating of “Hold” and a consensus price target of $77.39.
Cimarex Energy (NYSE:XEC) last released its earnings results on Monday, August 5th. The oil and gas producer reported $0.82 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.20 by ($0.38). Cimarex Energy had a net margin of 25.66% and a return on equity of 16.59%. The business had revenue of $546.46 million during the quarter, compared to analyst estimates of $594.90 million. During the same period last year, the business earned $1.59 EPS. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, research analysts expect that Cimarex Energy Co will post 4.78 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.78%. Cimarex Energy’s dividend payout ratio is 10.81%.
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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