JPMorgan Chase & Co. Decreases Position in Cimarex Energy Co (XEC)

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JPMorgan Chase & Co. lowered its position in shares of Cimarex Energy Co (NYSE:XEC) by 3.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 378,274 shares of the oil and gas producer’s stock after selling 15,245 shares during the quarter. JPMorgan Chase & Co. owned 0.40% of Cimarex Energy worth $35,156,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Paloma Partners Management Co boosted its position in shares of Cimarex Energy by 20.4% in the 2nd quarter. Paloma Partners Management Co now owns 71,280 shares of the oil and gas producer’s stock valued at $7,252,000 after purchasing an additional 12,079 shares during the period. Swiss National Bank boosted its position in shares of Cimarex Energy by 3.5% in the 2nd quarter. Swiss National Bank now owns 315,161 shares of the oil and gas producer’s stock valued at $32,064,000 after purchasing an additional 10,600 shares during the period. Investec Asset Management LTD boosted its position in shares of Cimarex Energy by 173.1% in the 2nd quarter. Investec Asset Management LTD now owns 118,291 shares of the oil and gas producer’s stock valued at $12,035,000 after purchasing an additional 74,981 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Cimarex Energy by 41.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 48,423 shares of the oil and gas producer’s stock valued at $4,927,000 after purchasing an additional 14,213 shares during the period. Finally, Advanced Asset Management Advisors Inc acquired a new position in shares of Cimarex Energy in the 2nd quarter valued at $621,000. 98.47% of the stock is owned by institutional investors and hedge funds.

XEC opened at $82.12 on Thursday. Cimarex Energy Co has a fifty-two week low of $77.63 and a fifty-two week high of $130.16. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.69 and a quick ratio of 1.62. The stock has a market cap of $7.80 billion, a PE ratio of 17.66 and a beta of 1.04.

Cimarex Energy (NYSE:XEC) last posted its quarterly earnings results on Tuesday, November 6th. The oil and gas producer reported $1.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.52 by $0.47. Cimarex Energy had a return on equity of 23.33% and a net margin of 28.70%. The company had revenue of $591.50 million during the quarter, compared to the consensus estimate of $561.67 million. During the same period last year, the business earned $1.09 EPS. The business’s quarterly revenue was up 27.6% on a year-over-year basis. On average, research analysts forecast that Cimarex Energy Co will post 7.17 EPS for the current fiscal year.

XEC has been the subject of a number of recent analyst reports. Williams Capital set a $129.00 price target on Cimarex Energy and gave the company a “buy” rating in a research report on Monday, August 20th. KLR Group reiterated a “buy” rating and issued a $117.00 price target on shares of Cimarex Energy in a research report on Monday, August 20th. Credit Suisse Group decreased their price objective on Cimarex Energy from $116.00 to $112.00 and set a “buy” rating for the company in a research report on Wednesday, August 8th. Stifel Nicolaus set a $175.00 price objective on Cimarex Energy and gave the stock a “buy” rating in a research report on Tuesday, August 7th. Finally, Morgan Stanley decreased their price objective on Cimarex Energy from $123.00 to $118.00 and set a “buy” rating for the company in a research report on Wednesday, September 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company’s stock. Cimarex Energy presently has an average rating of “Buy” and a consensus price target of $129.58.

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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, 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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