Addison Capital Co raised its position in shares of Cimarex Energy Co (NYSE:XEC) by 21.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,333 shares of the oil and gas producer’s stock after acquiring an additional 3,524 shares during the quarter. Addison Capital Co’s holdings in Cimarex Energy were worth $1,421,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of XEC. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Cimarex Energy during the fourth quarter valued at $26,000. First Bank & Trust bought a new position in shares of Cimarex Energy during the 4th quarter worth about $28,000. CSat Investment Advisory L.P. boosted its position in shares of Cimarex Energy by 77.7% during the 4th quarter. CSat Investment Advisory L.P. now owns 549 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 240 shares in the last quarter. Huntington National Bank boosted its position in shares of Cimarex Energy by 948.3% during the 4th quarter. Huntington National Bank now owns 629 shares of the oil and gas producer’s stock worth $39,000 after purchasing an additional 569 shares in the last quarter. Finally, Bremer Trust National Association bought a new position in shares of Cimarex Energy during the 4th quarter worth about $43,000. 94.20% of the stock is currently owned by institutional investors and hedge funds.

Shares of XEC traded up $0.93 on Wednesday, reaching $67.75. The company’s stock had a trading volume of 627,667 shares, compared to its average volume of 1,433,692. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.01 and a quick ratio of 1.93. Cimarex Energy Co has a twelve month low of $55.62 and a twelve month high of $103.91. The firm has a market capitalization of $6.80 billion, a PE ratio of 9.16 and a beta of 1.34.

Cimarex Energy (NYSE:XEC) last posted its earnings results on Wednesday, February 20th. The oil and gas producer reported $1.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.75 by $0.23. Cimarex Energy had a net margin of 33.85% and a return on equity of 23.51%. The company had revenue of $624.10 million for the quarter, compared to analyst estimates of $620.20 million. During the same quarter in the prior year, the business posted $1.47 EPS. The firm’s revenue was up 13.3% compared to the same quarter last year. As a group, analysts expect that Cimarex Energy Co will post 5.74 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Tuesday, May 14th. This is a positive change from Cimarex Energy’s previous quarterly dividend of $0.18. Cimarex Energy’s dividend payout ratio is currently 9.73%.

A number of equities analysts have recently issued reports on XEC shares. Robert W. Baird cut their price objective on shares of Cimarex Energy from $136.00 to $112.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 11th. Williams Capital set a $109.00 price objective on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Wednesday, December 12th. Barclays started coverage on shares of Cimarex Energy in a research report on Wednesday, January 16th. They set an “equal weight” rating and a $81.00 price objective on the stock. Mizuho started coverage on shares of Cimarex Energy in a research report on Tuesday, January 29th. They set a “neutral” rating and a $80.00 price objective on the stock. Finally, Morgan Stanley set a $109.00 price objective on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Tuesday, January 29th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the stock. Cimarex Energy presently has a consensus rating of “Hold” and an average price target of $108.16.

In other Cimarex Energy news, Director Harold R. Logan, Jr. sold 990 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $70.00, for a total value of $69,300.00. Following the completion of the sale, the director now owns 7,259 shares in the company, valued at approximately $508,130. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.70% of the company’s stock.

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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.

See Also: Net Asset Value

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

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