Connor Clark & Lunn Investment Management Ltd. lessened its holdings in Cimarex Energy Co (NYSE:XEC) by 53.7% during the third quarter, HoldingsChannel.com reports. The firm owned 76,100 shares of the oil and gas producer’s stock after selling 88,175 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Cimarex Energy were worth $7,073,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Paloma Partners Management Co grew its holdings in Cimarex Energy by 20.4% in the second quarter. Paloma Partners Management Co now owns 71,280 shares of the oil and gas producer’s stock worth $7,252,000 after purchasing an additional 12,079 shares during the period. Swiss National Bank grew its holdings in Cimarex Energy by 3.5% in the second quarter. Swiss National Bank now owns 315,161 shares of the oil and gas producer’s stock worth $32,064,000 after purchasing an additional 10,600 shares during the period. Investec Asset Management LTD grew its holdings in Cimarex Energy by 173.1% in the second quarter. Investec Asset Management LTD now owns 118,291 shares of the oil and gas producer’s stock worth $12,035,000 after purchasing an additional 74,981 shares during the period. Canada Pension Plan Investment Board grew its holdings in Cimarex Energy by 41.5% in the second quarter. Canada Pension Plan Investment Board now owns 48,423 shares of the oil and gas producer’s stock worth $4,927,000 after purchasing an additional 14,213 shares during the period. Finally, Advanced Asset Management Advisors Inc purchased a new stake in Cimarex Energy in the second quarter worth about $621,000. Institutional investors and hedge funds own 98.47% of the company’s stock.
A number of equities research analysts have weighed in on XEC shares. JPMorgan Chase & Co. cut shares of Cimarex Energy from an “overweight” rating to a “neutral” rating and set a $110.00 price objective on the stock. in a report on Wednesday, August 8th. Stifel Nicolaus set a $175.00 price objective on shares of Cimarex Energy and gave the stock a “buy” rating in a report on Tuesday, August 7th. Williams Capital restated a “buy” rating and issued a $134.00 price objective on shares of Cimarex Energy in a report on Wednesday, August 8th. Credit Suisse Group cut their price objective on shares of Cimarex Energy from $116.00 to $112.00 and set a “buy” rating on the stock in a report on Wednesday, August 8th. Finally, ValuEngine downgraded shares of Cimarex Energy from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $125.89.
Cimarex Energy (NYSE:XEC) last issued its earnings results on Tuesday, November 6th. The oil and gas producer reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.47. The firm had revenue of $591.50 million for the quarter, compared to the consensus estimate of $561.67 million. Cimarex Energy had a net margin of 28.70% and a return on equity of 23.33%. The business’s revenue was up 27.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.09 earnings per share. On average, research analysts anticipate that Cimarex Energy Co will post 7.14 earnings per share for the current year.
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, 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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