Renaissance Technologies LLC Has $34.47 Million Stock Position in Cimarex Energy Co (NYSE:XEC)

Renaissance Technologies LLC boosted its position in shares of Cimarex Energy Co (NYSE:XEC) by 56.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 580,932 shares of the oil and gas producer’s stock after purchasing an additional 210,335 shares during the period. Renaissance Technologies LLC owned 0.57% of Cimarex Energy worth $34,467,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Valeo Financial Advisors LLC grew its position in Cimarex Energy by 319.8% during the second quarter. Valeo Financial Advisors LLC now owns 487 shares of the oil and gas producer’s stock worth $29,000 after buying an additional 371 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in Cimarex Energy during the first quarter worth about $31,000. Nvwm LLC grew its position in Cimarex Energy by 462.0% during the first quarter. Nvwm LLC now owns 517 shares of the oil and gas producer’s stock worth $36,000 after buying an additional 425 shares in the last quarter. Advisory Services Network LLC grew its position in Cimarex Energy by 1,170.2% during the second quarter. Advisory Services Network LLC now owns 597 shares of the oil and gas producer’s stock worth $36,000 after buying an additional 550 shares in the last quarter. Finally, Bremer Bank National Association acquired a new stake in Cimarex Energy during the first quarter worth about $48,000. Institutional investors own 96.14% of the company’s stock.

Shares of Cimarex Energy stock traded up $2.04 on Friday, hitting $46.35. 59,943 shares of the company’s stock traded hands, compared to its average volume of 1,890,943. The firm’s 50-day moving average price is $43.25 and its two-hundred day moving average price is $58.98. The stock has a market capitalization of $4.57 billion, a PE ratio of 6.23 and a beta of 1.33. Cimarex Energy Co has a one year low of $37.19 and a one year high of $101.19. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.64 and a quick ratio of 0.57.

Cimarex Energy (NYSE:XEC) last issued its earnings results on Monday, August 5th. The oil and gas producer reported $0.82 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.38). The business had revenue of $546.46 million for the quarter, compared to the consensus estimate of $594.90 million. Cimarex Energy had a net margin of 25.66% and a return on equity of 16.59%. The business’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.59 EPS. On average, analysts forecast that Cimarex Energy Co will post 4.68 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Thursday, November 14th. Cimarex Energy’s dividend payout ratio is currently 10.81%.

XEC has been the topic of a number of recent research reports. Robert W. Baird reissued an “outperform” rating and set a $82.00 target price (down from $110.00) on shares of Cimarex Energy in a research report on Wednesday, June 5th. Bank of America decreased their target price on Cimarex Energy from $87.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Wells Fargo & Co initiated coverage on Cimarex Energy in a research report on Monday, May 20th. They set a “market perform” rating and a $86.00 target price on the stock. Piper Jaffray Companies set a $68.00 target price on Cimarex Energy and gave the stock a “hold” rating in a research report on Friday, August 16th. Finally, Morgan Stanley decreased their target price on Cimarex Energy from $81.00 to $57.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $77.39.

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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