Renaissance Technologies LLC raised its stake in Cimarex Energy Co (NYSE:XEC) by 56.8% during the 2nd quarter, Holdings Channel reports. The fund owned 580,932 shares of the oil and gas producer’s stock after acquiring an additional 210,335 shares during the period. Renaissance Technologies LLC’s holdings in Cimarex Energy were worth $34,467,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in shares of Cimarex Energy by 53.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,259,384 shares of the oil and gas producer’s stock worth $77,641,000 after purchasing an additional 439,290 shares during the period. Geode Capital Management LLC increased its holdings in shares of Cimarex Energy by 13.9% during the fourth quarter. Geode Capital Management LLC now owns 1,278,191 shares of the oil and gas producer’s stock worth $78,667,000 after purchasing an additional 156,318 shares during the period. Quantamental Technologies LLC bought a new position in shares of Cimarex Energy during the first quarter worth approximately $31,000. Janney Montgomery Scott LLC increased its holdings in shares of Cimarex Energy by 20.8% during the first quarter. Janney Montgomery Scott LLC now owns 11,546 shares of the oil and gas producer’s stock worth $807,000 after purchasing an additional 1,990 shares during the period. Finally, Alps Advisors Inc. increased its holdings in shares of Cimarex Energy by 12.6% during the first quarter. Alps Advisors Inc. now owns 5,754 shares of the oil and gas producer’s stock worth $402,000 after purchasing an additional 644 shares during the period. 96.14% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE XEC traded up $2.04 during trading hours on Friday, hitting $46.35. 59,943 shares of the stock were exchanged, compared to its average volume of 1,890,943. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.57 and a current ratio of 0.64. The company has a market cap of $4.57 billion, a PE ratio of 6.23 and a beta of 1.33. The company’s fifty day simple moving average is $43.25 and its two-hundred day simple moving average is $58.98. Cimarex Energy Co has a 1-year low of $37.19 and a 1-year high of $101.19.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.82 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by ($0.38). The firm had revenue of $546.46 million for the quarter, compared to analyst estimates of $594.90 million. Cimarex Energy had a return on equity of 16.59% and a net margin of 25.66%. The business’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.59 EPS. As a group, sell-side analysts expect that Cimarex Energy Co will post 4.68 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.20 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.73%. Cimarex Energy’s dividend payout ratio is currently 10.81%.
XEC has been the topic of several recent research reports. Williams Capital reaffirmed a “buy” rating and set a $83.00 target price on shares of Cimarex Energy in a report on Monday, July 22nd. SunTrust Banks set a $60.00 target price on shares of Cimarex Energy and gave the stock a “buy” rating in a report on Wednesday, August 7th. Citigroup lowered their target price on shares of Cimarex Energy from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. MKM Partners lowered their target price on shares of Cimarex Energy from $70.00 to $64.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Capital One Financial upgraded shares of Cimarex Energy from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company’s stock. Cimarex Energy has an average rating of “Hold” and an average 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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