TD Asset Management Inc. Grows Stock Holdings in Cimarex Energy Co (NYSE:XEC)
TD Asset Management Inc. lifted its position in shares of Cimarex Energy Co (NYSE:XEC) by 21.2% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 60,819 shares of the oil and gas producer’s stock after buying an additional 10,636 shares during the quarter. TD Asset Management Inc. owned approximately 0.06% of Cimarex Energy worth $3,608,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Boston Partners lifted its stake in Cimarex Energy by 20.1% in the 1st quarter. Boston Partners now owns 6,989,669 shares of the oil and gas producer’s stock worth $488,578,000 after purchasing an additional 1,169,027 shares in the last quarter. BlackRock Inc. lifted its stake in Cimarex Energy by 7.6% in the 1st quarter. BlackRock Inc. now owns 6,979,085 shares of the oil and gas producer’s stock worth $487,836,000 after purchasing an additional 494,463 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Cimarex Energy by 53.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,259,384 shares of the oil and gas producer’s stock worth $77,641,000 after purchasing an additional 439,290 shares in the last quarter. Monarch Alternative Capital LP purchased a new stake in Cimarex Energy in the 1st quarter worth $25,730,000. Finally, Clark Capital Management Group Inc. purchased a new stake in Cimarex Energy in the 2nd quarter worth $15,809,000. Institutional investors own 95.69% of the company’s stock.
Several analysts have commented on XEC shares. Wells Fargo & Co started coverage on shares of Cimarex Energy in a research note on Monday, May 20th. They issued a “market perform” rating and a $86.00 price target on the stock. Williams Capital reiterated a “buy” rating and issued a $83.00 price target on shares of Cimarex Energy in a research note on Monday, July 22nd. KeyCorp started coverage on shares of Cimarex Energy in a research note on Thursday, June 27th. They issued an “overweight” rating and a $66.00 price target on the stock. Imperial Capital decreased their price target on shares of Cimarex Energy from $58.00 to $51.00 and set an “in-line” rating on the stock in a research note on Wednesday, August 7th. Finally, Robert W. Baird restated an “outperform” rating and issued a $82.00 target price (down from $110.00) on shares of Cimarex Energy in a report on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company. Cimarex Energy has a consensus rating of “Hold” and a consensus target price of $77.39.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.82 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.38). The firm had revenue of $546.46 million for the quarter, compared to the consensus estimate of $594.90 million. Cimarex Energy had a net margin of 25.66% and a return on equity of 16.59%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.59 earnings per share. As a group, equities analysts forecast that Cimarex Energy Co will post 5.1 EPS for the current fiscal year.
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, 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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