Wealthfront Advisers LLC bought a new position in shares of Cimarex Energy Co (NYSE:XEC) during the first quarter, Holdings Channel reports. The fund bought 12,866 shares of the oil and gas producer’s stock, valued at approximately $899,000.

Several other institutional investors also recently made changes to their positions in XEC. Boston Partners raised its position in shares of Cimarex Energy by 20.1% during the first 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 during the period. Norges Bank acquired a new stake in shares of Cimarex Energy during the fourth quarter worth $52,408,000. BlackRock Inc. raised its position in shares of 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 worth $487,836,000 after purchasing an additional 494,463 shares during the period. Diamond Hill Capital Management Inc. raised its position in shares of Cimarex Energy by 7.9% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 6,068,484 shares of the oil and gas producer’s stock worth $374,122,000 after purchasing an additional 445,153 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Cimarex Energy by 53.6% during the fourth 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 during the period. 93.59% of the stock is currently owned by institutional investors.

NYSE:XEC traded down $1.19 during trading hours on Friday, hitting $55.47. 36,645 shares of the company’s stock traded hands, compared to its average volume of 1,498,567. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 7.51 and a beta of 1.36. Cimarex Energy Co has a twelve month low of $54.07 and a twelve month high of $103.91. The company has a current ratio of 0.66, a quick ratio of 0.59 and a debt-to-equity ratio of 0.58.

Cimarex Energy (NYSE:XEC) last posted its quarterly earnings results on Wednesday, May 8th. The oil and gas producer reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.17). The business had revenue of $577.00 million for the quarter, compared to analyst estimates of $581.51 million. Cimarex Energy had a net margin of 26.90% and a return on equity of 19.95%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.82 earnings per share. Equities analysts forecast that Cimarex Energy Co will post 6.06 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 15th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Wednesday, August 14th. Cimarex Energy’s payout ratio is 10.81%.

A number of equities research analysts have recently issued reports on XEC shares. Morgan Stanley set a $100.00 target price on Cimarex Energy and gave the stock a “buy” rating in a research report on Thursday, May 16th. Capital One Financial raised Cimarex Energy from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 23rd. Imperial Capital reaffirmed an “outperform” rating and set a $82.00 target price (down from $84.00) on shares of Cimarex Energy in a research report on Friday, May 10th. SunTrust Banks set a $75.00 target price on Cimarex Energy and gave the stock a “hold” rating in a research report on Tuesday, April 23rd. Finally, Evercore ISI lowered Cimarex Energy from an “outperform” rating to an “in-line” rating in a research report on Tuesday, March 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $104.17.

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

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