Korea Investment CORP Sells 18,400 Shares of Cimarex Energy Co (XEC)

Korea Investment CORP lessened its stake in shares of Cimarex Energy Co (NYSE:XEC) by 26.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 52,034 shares of the oil and gas producer’s stock after selling 18,400 shares during the period. Korea Investment CORP’s holdings in Cimarex Energy were worth $3,208,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in XEC. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Cimarex Energy in the fourth quarter valued at about $26,000. First Bank & Trust purchased a new position in shares of Cimarex Energy in the fourth quarter valued at about $28,000. Huntington National Bank lifted its position in shares of Cimarex Energy by 948.3% in the fourth quarter. Huntington National Bank now owns 629 shares of the oil and gas producer’s stock valued at $39,000 after acquiring an additional 569 shares in the last quarter. Bremer Trust National Association purchased a new stake in shares of Cimarex Energy in the fourth quarter worth about $43,000. Finally, Ipswich Investment Management Co. Inc. purchased a new stake in shares of Cimarex Energy in the fourth quarter worth about $49,000. 99.60% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE XEC opened at $70.52 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.93 and a debt-to-equity ratio of 0.45. Cimarex Energy Co has a 1-year low of $55.62 and a 1-year high of $103.91. The company has a market cap of $6.71 billion, a price-to-earnings ratio of 9.53 and a beta of 1.34.

Cimarex Energy (NYSE:XEC) last issued its quarterly earnings data on Wednesday, February 20th. The oil and gas producer reported $1.98 earnings per share for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $620.20 million. During the same period in the previous year, the firm posted $1.47 earnings per share. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, analysts predict that Cimarex Energy Co will post 5.73 EPS for the current fiscal 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 boost from Cimarex Energy’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Tuesday, May 14th. Cimarex Energy’s payout ratio is presently 9.73%.

A number of equities research analysts recently commented on XEC shares. Cowen started coverage on Cimarex Energy in a research report on Thursday, November 29th. They issued a “market perform” rating and a $95.00 target price on the stock. Barclays started coverage on Cimarex Energy in a research report on Wednesday, January 16th. They issued an “equal weight” rating and a $81.00 target price on the stock. Mizuho started coverage on Cimarex Energy in a research report on Tuesday, January 29th. They issued a “neutral” rating and a $80.00 target price on the stock. Susquehanna Bancshares downgraded Cimarex Energy from a “positive” rating to a “neutral” rating in a research report on Monday, February 11th. Finally, Morgan Stanley boosted their target price on Cimarex Energy from $124.00 to $127.00 and gave the stock a “buy” rating in a research report on Tuesday, November 20th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company’s stock. Cimarex Energy presently has an average rating of “Hold” and an average price target of $108.42.

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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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Institutional Ownership by Quarter for Cimarex Energy (NYSE:XEC)

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