Schroder Investment Management Group Has $25.12 Million Holdings in Cimarex Energy Co (XEC)
Schroder Investment Management Group raised its holdings in Cimarex Energy Co (NYSE:XEC) by 65.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 248,848 shares of the oil and gas producer’s stock after purchasing an additional 98,080 shares during the period. Schroder Investment Management Group’s holdings in Cimarex Energy were worth $25,115,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Diamond Hill Capital Management Inc. raised its position in shares of Cimarex Energy by 6.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 5,396,174 shares of the oil and gas producer’s stock valued at $549,007,000 after purchasing an additional 312,747 shares in the last quarter. Boston Partners raised its position in shares of Cimarex Energy by 211.8% in the 2nd quarter. Boston Partners now owns 4,978,018 shares of the oil and gas producer’s stock valued at $506,463,000 after purchasing an additional 3,381,576 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Cimarex Energy by 24.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,220,671 shares of the oil and gas producer’s stock valued at $225,931,000 after purchasing an additional 437,851 shares in the last quarter. American Century Companies Inc. raised its position in shares of Cimarex Energy by 23.3% in the 2nd quarter. American Century Companies Inc. now owns 1,928,870 shares of the oil and gas producer’s stock valued at $196,243,000 after purchasing an additional 365,044 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Cimarex Energy by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,739,452 shares of the oil and gas producer’s stock valued at $162,639,000 after purchasing an additional 5,344 shares in the last quarter. 94.95% of the stock is currently owned by institutional investors.
XEC has been the topic of a number of recent analyst reports. Citigroup upped their target price on Cimarex Energy from $119.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, June 15th. ValuEngine raised Cimarex Energy from a “strong sell” rating to a “sell” rating in a research report on Monday, June 18th. Bank of America raised Cimarex Energy from a “neutral” rating to a “buy” rating in a research report on Thursday, June 21st. Morgan Stanley cut their target price on Cimarex Energy from $135.00 to $124.00 and set an “overweight” rating on the stock in a research report on Thursday, July 12th. Finally, Jefferies Financial Group set a $118.00 target price on Cimarex Energy and gave the company a “buy” rating in a research report on Wednesday, July 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $130.67.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings results on Tuesday, August 7th. The oil and gas producer reported $1.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.64 by ($0.05). The firm had revenue of $556.27 million for the quarter, compared to analyst estimates of $557.26 million. Cimarex Energy had a net margin of 27.75% and a return on equity of 21.47%. Sell-side analysts expect that Cimarex Energy Co will post 6.74 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be given a dividend of $0.18 per share. This is a positive change from Cimarex Energy’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Wednesday, November 14th. Cimarex Energy’s dividend payout ratio is currently 13.76%.
In other news, Director Lisa A. Stewart purchased 320 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The shares were acquired at an average cost of $84.05 per share, with a total value of $26,896.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.70% of the company’s stock.
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, 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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