Russell Investments Group Ltd. boosted its stake in Cimarex Energy Co (NYSE:XEC) by 16.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 15,182 shares of the oil and gas producer’s stock after buying an additional 2,177 shares during the quarter. Russell Investments Group Ltd.’s holdings in Cimarex Energy were worth $1,416,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mount Yale Investment Advisors LLC acquired a new stake in Cimarex Energy in the 2nd quarter valued at $115,000. Point72 Hong Kong Ltd acquired a new stake in Cimarex Energy in the 2nd quarter valued at $161,000. Eagle Boston Investment Management Inc. acquired a new stake in Cimarex Energy in the 2nd quarter valued at $204,000. Global X Management Co LLC increased its holdings in Cimarex Energy by 71.7% in the 2nd quarter. Global X Management Co LLC now owns 2,559 shares of the oil and gas producer’s stock valued at $260,000 after purchasing an additional 1,069 shares in the last quarter. Finally, Linscomb & Williams Inc. acquired a new stake in Cimarex Energy in the 2nd quarter valued at $280,000. Hedge funds and other institutional investors own 98.53% of the company’s stock.
Shares of XEC stock opened at $75.22 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.62 and a debt-to-equity ratio of 0.49. Cimarex Energy Co has a one year low of $73.01 and a one year high of $130.16. The stock has a market cap of $7.21 billion, a PE ratio of 10.98 and a beta of 1.10.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 15th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.96%. Cimarex Energy’s payout ratio is 15.48%.
Several analysts recently issued reports on XEC shares. Wolfe Research upgraded Cimarex Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, October 17th. Imperial Capital reissued an “in-line” rating on shares of Cimarex Energy in a research report on Tuesday, November 20th. Williams Capital set a $129.00 price objective on shares of Cimarex Energy and gave the company a “buy” rating in a research report on Wednesday, November 7th. ValuEngine raised shares of Cimarex Energy from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 9th. Finally, Morgan Stanley decreased their price objective on shares of Cimarex Energy from $123.00 to $118.00 and set a “buy” rating for the company in a research report on Wednesday, September 26th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $123.90.
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, 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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