Tiverton Asset Management LLC Has $319,000 Stake in Cimarex Energy Co (NYSE:XEC)
Tiverton Asset Management LLC raised its stake in shares of Cimarex Energy Co (NYSE:XEC) by 17.3% in the 2nd quarter, Holdings Channel reports. The firm owned 5,383 shares of the oil and gas producer’s stock after purchasing an additional 794 shares during the quarter. Tiverton Asset Management LLC’s holdings in Cimarex Energy were worth $319,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. BlackRock Inc. boosted its position in Cimarex Energy by 7.6% during the first quarter. BlackRock Inc. now owns 6,979,085 shares of the oil and gas producer’s stock valued at $487,836,000 after acquiring an additional 494,463 shares during the last quarter. Diamond Hill Capital Management Inc. raised its holdings in Cimarex Energy by 15.9% during the second quarter. Diamond Hill Capital Management Inc. now owns 6,937,262 shares of the oil and gas producer’s stock worth $411,588,000 after buying an additional 953,479 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Cimarex Energy by 5.4% during the second quarter. Janus Henderson Group PLC now owns 1,279,327 shares of the oil and gas producer’s stock worth $75,903,000 after buying an additional 66,119 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Cimarex Energy by 13.9% in the fourth quarter. Geode Capital Management LLC now owns 1,278,191 shares of the oil and gas producer’s stock valued at $78,667,000 after buying an additional 156,318 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Cimarex Energy by 53.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,259,384 shares of the oil and gas producer’s stock valued at $77,641,000 after buying an additional 439,290 shares in the last quarter. 96.14% of the stock is owned by institutional investors and hedge funds.
Shares of XEC traded down $0.15 during trading hours on Wednesday, reaching $44.91. 56,116 shares of the company’s stock traded hands, compared to its average volume of 1,911,615. The stock has a market cap of $4.55 billion, a PE ratio of 6.07 and a beta of 1.33. The company has a current ratio of 0.64, a quick ratio of 0.57 and a debt-to-equity ratio of 0.56. The firm’s 50 day simple moving average is $43.34 and its 200-day simple moving average is $59.13. Cimarex Energy Co has a 12 month low of $37.19 and a 12 month high of $101.19.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Thursday, November 14th. Cimarex Energy’s payout ratio is 10.81%.
Several research firms have recently commented on XEC. Piper Jaffray Companies set a $68.00 target price on shares of Cimarex Energy and gave the stock a “hold” rating in a research report on Friday, August 16th. Citigroup cut their price target on Cimarex Energy from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Robert W. Baird reissued an “outperform” rating and set a $82.00 price objective (down from $110.00) on shares of Cimarex Energy in a report on Wednesday, June 5th. MKM Partners lowered their price objective on Cimarex Energy from $70.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Capital One Financial raised Cimarex Energy from an “equal weight” rating to an “overweight” rating in a research note on Thursday, May 23rd. 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. The stock currently has an average rating of “Hold” and an average price target of $77.39.
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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