Mitsubishi UFJ Trust & Banking Corp Has $6.94 Million Holdings in Cimarex Energy Co (XEC)

Mitsubishi UFJ Trust & Banking Corp lessened its position in shares of Cimarex Energy Co (NYSE:XEC) by 61.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 74,647 shares of the oil and gas producer’s stock after selling 121,268 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.08% of Cimarex Energy worth $6,938,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of XEC. Mount Yale Investment Advisors LLC acquired a new position in Cimarex Energy during the 2nd quarter worth approximately $115,000. JNBA Financial Advisors acquired a new position in Cimarex Energy during the 3rd quarter worth approximately $143,000. Point72 Hong Kong Ltd acquired a new position in Cimarex Energy during the 2nd quarter worth approximately $161,000. Eagle Boston Investment Management Inc. acquired a new position in Cimarex Energy during the 2nd quarter worth approximately $204,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Cimarex Energy during the 3rd quarter worth approximately $235,000. Institutional investors own 98.53% of the company’s stock.

Shares of Cimarex Energy stock opened at $75.22 on Friday. Cimarex Energy Co has a 12-month low of $73.01 and a 12-month high of $130.16. The company has a quick ratio of 1.62, a current ratio of 1.69 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $7.74 billion, a PE ratio of 16.18 and a beta of 1.10.

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, beating the consensus estimate of $1.52 by $0.47. Cimarex Energy had a net margin of 28.70% and a return on equity of 23.33%. The business had revenue of $591.50 million during the quarter, compared to analysts’ expectations of $561.67 million. During the same quarter in the prior year, the business posted $1.09 EPS. The company’s revenue for the quarter was up 27.6% on a year-over-year basis. As a group, research analysts expect that Cimarex Energy Co will post 7.14 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 15th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.96%. Cimarex Energy’s payout ratio is 15.48%.

Several research firms have commented on XEC. ValuEngine upgraded shares of Cimarex Energy from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 9th. Morgan Stanley lowered their price target on shares of Cimarex Energy from $123.00 to $118.00 and set a “buy” rating for the company in a report on Wednesday, September 26th. Piper Jaffray Companies began coverage on shares of Cimarex Energy in a report on Friday, September 28th. They set a “neutral” rating for the company. Wolfe Research upgraded shares of Cimarex Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, October 17th. Finally, Williams Capital set a $129.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a report on Monday, November 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $123.90.

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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.

Further Reading: What are the components of an earnings report?

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

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