BlackRock Inc. lowered its position in shares of Cimarex Energy Co (NYSE:XEC) by 6.2% during the third quarter, HoldingsChannel.com reports. The fund owned 6,250,376 shares of the oil and gas producer’s stock after selling 409,711 shares during the quarter. BlackRock Inc. owned approximately 0.07% of Cimarex Energy worth $580,909,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in XEC. Wilks Brothers LLC increased its stake in Cimarex Energy by 29.5% in the 3rd quarter. Wilks Brothers LLC now owns 514,939 shares of the oil and gas producer’s stock valued at $47,858,000 after buying an additional 117,188 shares during the period. Bank of New York Mellon Corp grew its position in Cimarex Energy by 3.9% in the third quarter. Bank of New York Mellon Corp now owns 774,177 shares of the oil and gas producer’s stock worth $71,953,000 after acquiring an additional 29,002 shares in the last quarter. Alliancebernstein L.P. grew its position in Cimarex Energy by 175.5% in the third quarter. Alliancebernstein L.P. now owns 427,095 shares of the oil and gas producer’s stock worth $39,694,000 after acquiring an additional 272,084 shares in the last quarter. Eagle Asset Management Inc. grew its position in Cimarex Energy by 12.6% in the third quarter. Eagle Asset Management Inc. now owns 16,738 shares of the oil and gas producer’s stock worth $1,555,000 after acquiring an additional 1,875 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Cimarex Energy in the third quarter worth approximately $235,000. Institutional investors and hedge funds own 98.53% of the company’s stock.

NYSE XEC opened at $80.92 on Thursday. The company has a quick ratio of 1.62, a current ratio of 1.69 and a debt-to-equity ratio of 0.49. The firm has a market cap of $7.84 billion, a P/E ratio of 17.40 and a beta of 1.10. Cimarex Energy Co has a 1 year low of $77.63 and a 1 year high of $130.16.

Cimarex Energy (NYSE:XEC) last posted its quarterly earnings data on Tuesday, November 6th. The oil and gas producer reported $1.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.52 by $0.47. The business had revenue of $591.50 million during the quarter, compared to the consensus estimate of $561.67 million. Cimarex Energy had a net margin of 28.70% and a return on equity of 23.33%. Cimarex Energy’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.09 EPS. On average, equities research analysts expect that Cimarex Energy Co will post 7.14 earnings per share for the current year.

XEC has been the subject of several recent research reports. JPMorgan Chase & Co. downgraded shares of Cimarex Energy from an “overweight” rating to a “neutral” rating and set a $110.00 target price for the company. in a research report on Wednesday, August 8th. Williams Capital reissued a “buy” rating and issued a $134.00 target price on shares of Cimarex Energy in a research report on Wednesday, August 8th. Credit Suisse Group decreased their target price on shares of Cimarex Energy from $116.00 to $112.00 and set a “buy” rating for the company in a research report on Wednesday, August 8th. ValuEngine downgraded shares of Cimarex Energy from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 8th. Finally, Imperial Capital decreased their target price on shares of Cimarex Energy from $156.00 to $128.00 and set an “outperform” rating for the company in a research report on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $125.00.

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

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