Schwab Charles Investment Management Inc. Buys 12,231 Shares of Cimarex Energy Co (XEC)
Schwab Charles Investment Management Inc. boosted its stake in shares of Cimarex Energy Co (NYSE:XEC) by 3.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 414,377 shares of the oil and gas producer’s stock after acquiring an additional 12,231 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Cimarex Energy were worth $50,559,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Advisor Group Inc. increased its stake in Cimarex Energy by 5.3% during the 2nd quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock worth $113,000 after acquiring an additional 60 shares during the period. Meeder Asset Management Inc. bought a new position in Cimarex Energy during the 3rd quarter worth $206,000. Cue Financial Group Inc. bought a new position in Cimarex Energy during the 3rd quarter worth $224,000. Farr Miller & Washington LLC DC bought a new position in Cimarex Energy during the 3rd quarter worth $227,000. Finally, AE Wealth Management LLC acquired a new stake in shares of Cimarex Energy in the 3rd quarter valued at $246,000. Hedge funds and other institutional investors own 92.34% of the company’s stock.
Shares of Cimarex Energy Co (NYSE:XEC) opened at $108.46 on Wednesday. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.62. Cimarex Energy Co has a twelve month low of $89.49 and a twelve month high of $136.31. The firm has a market capitalization of $10,330.00, a price-to-earnings ratio of 27.12 and a beta of 1.14.
In related news, VP Krista L. Johnson sold 5,341 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $116.46, for a total transaction of $622,012.86. Following the sale, the vice president now owns 42,938 shares of the company’s stock, valued at approximately $5,000,559.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lisa A. Stewart acquired 248 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The shares were purchased at an average cost of $112.06 per share, for a total transaction of $27,790.88. The disclosure for this purchase can be found here. In the last three months, insiders have sold 32,264 shares of company stock worth $3,804,134. 1.70% of the stock is currently owned by company insiders.
A number of equities research analysts have weighed in on XEC shares. Barclays raised their target price on Cimarex Energy from $117.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, October 11th. Citigroup reaffirmed a “buy” rating and issued a $120.00 target price on shares of Cimarex Energy in a report on Friday, October 13th. Williams Capital raised their target price on Cimarex Energy from $132.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. Morgan Stanley raised their target price on Cimarex Energy from $138.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, October 18th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $130.00 target price on shares of Cimarex Energy in a report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $141.52.
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About Cimarex Energy
Cimarex Energy Co is an independent oil and gas exploration and production company. The Company operates in exploration and production (E&P) segment. Its operations are located in Oklahoma, Texas and New Mexico. Its E&P activities take place primarily in two areas: the Permian Basin and the Mid-Continent region.
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