Tortoise Capital Advisors L.L.C. Acquires 22,100 Shares of Cimarex Energy Co (NYSE:XEC)

Tortoise Capital Advisors L.L.C. increased its holdings in Cimarex Energy Co (NYSE:XEC) by 18.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 141,118 shares of the oil and gas producer’s stock after purchasing an additional 22,100 shares during the period. Tortoise Capital Advisors L.L.C. owned approximately 0.14% of Cimarex Energy worth $8,373,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in XEC. Morgan Stanley boosted its stake in Cimarex Energy by 11.3% during the second quarter. Morgan Stanley now owns 199,035 shares of the oil and gas producer’s stock worth $11,809,000 after buying an additional 20,223 shares during the period. Paloma Partners Management Co boosted its stake in Cimarex Energy by 14.7% during the second quarter. Paloma Partners Management Co now owns 222,069 shares of the oil and gas producer’s stock worth $13,176,000 after buying an additional 28,541 shares during the period. Man Group plc boosted its stake in Cimarex Energy by 393.3% during the second quarter. Man Group plc now owns 139,234 shares of the oil and gas producer’s stock worth $8,260,000 after buying an additional 111,009 shares during the period. Bank of America Corp DE boosted its stake in Cimarex Energy by 13.7% during the second quarter. Bank of America Corp DE now owns 1,332,660 shares of the oil and gas producer’s stock worth $79,066,000 after buying an additional 160,717 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its stake in Cimarex Energy by 17.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 11,431 shares of the oil and gas producer’s stock worth $678,000 after buying an additional 1,716 shares during the period. Institutional investors own 96.08% of the company’s stock.

Several research analysts have commented on XEC shares. Morgan Stanley dropped their price objective on shares of Cimarex Energy from $81.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, August 14th. MKM Partners dropped their price objective on shares of Cimarex Energy from $70.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Imperial Capital dropped their price objective on shares of Cimarex Energy from $58.00 to $51.00 and set an “in-line” rating for the company in a research note on Wednesday, August 7th. Bank of America dropped their price objective on shares of Cimarex Energy from $87.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, Wells Fargo & Co lifted their price objective on shares of Cimarex Energy from $64.00 to $65.00 and gave the stock a “market perform” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $76.22.

Shares of XEC traded down $0.11 during trading hours on Friday, reaching $50.71. 2,542,678 shares of the company traded hands, compared to its average volume of 2,282,664. The firm has a market cap of $5.15 billion, a price-to-earnings ratio of 6.85 and a beta of 1.33. Cimarex Energy Co has a 12-month low of $37.19 and a 12-month high of $101.19. 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 stock’s fifty day moving average price is $43.39 and its 200 day moving average price is $58.05.

Cimarex Energy (NYSE:XEC) last issued its earnings results on Monday, August 5th. The oil and gas producer reported $0.82 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.20 by ($0.38). The company had revenue of $546.46 million for the quarter, compared to analysts’ expectations of $594.90 million. Cimarex Energy had a net margin of 25.66% and a return on equity of 16.59%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.59 earnings per share. On average, research analysts forecast that Cimarex Energy Co will post 4.59 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Thursday, November 14th. Cimarex Energy’s dividend payout ratio is currently 10.81%.

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, 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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