AlphaCrest Capital Management LLC Buys 5,826 Shares of Cimarex Energy Co (NYSE:XEC)

AlphaCrest Capital Management LLC boosted its stake in shares of Cimarex Energy Co (NYSE:XEC) by 125.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,472 shares of the oil and gas producer’s stock after acquiring an additional 5,826 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in Cimarex Energy were worth $732,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Quantamental Technologies LLC bought a new position in shares of Cimarex Energy in the first quarter valued at $31,000. CSat Investment Advisory L.P. boosted its position in Cimarex Energy by 77.7% during the fourth quarter. CSat Investment Advisory L.P. now owns 549 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 240 shares during the period. Nvwm LLC boosted 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 purchasing an additional 425 shares during the period. Bremer Trust National Association bought a new position in Cimarex Energy during the fourth quarter worth $43,000. Finally, Bremer Bank National Association bought a new position in Cimarex Energy during the first quarter worth $48,000. 93.28% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have commented on XEC shares. Robert W. Baird reaffirmed an “outperform” rating and set a $82.00 price objective (down from $110.00) on shares of Cimarex Energy in a research report on Wednesday, June 5th. SunTrust Banks set a $75.00 price target on Cimarex Energy and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Evercore ISI downgraded Cimarex Energy from an “outperform” rating to an “in-line” rating in a research note on Tuesday, March 12th. Capital One Financial downgraded Cimarex Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 20th. Finally, Morgan Stanley set a $100.00 target price on Cimarex Energy and gave the stock a “buy” rating in a research note on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $99.89.

Shares of NYSE:XEC traded up $0.72 during trading on Monday, reaching $60.05. 1,895,700 shares of the stock were exchanged, compared to its average volume of 1,461,450. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.59 and a current ratio of 0.66. Cimarex Energy Co has a 1-year low of $53.45 and a 1-year high of $103.73. The stock has a fifty day moving average price of $60.55. The stock has a market capitalization of $6.02 billion, a price-to-earnings ratio of 8.11 and a beta of 1.31.

Cimarex Energy (NYSE:XEC) last released its quarterly earnings results on Wednesday, May 8th. The oil and gas producer reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.17). The company had revenue of $577.00 million during the quarter, compared to analysts’ expectations of $581.51 million. Cimarex Energy had a net margin of 26.90% and a return on equity of 19.95%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.82 earnings per share. Equities analysts anticipate that Cimarex Energy Co will post 6.01 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 15th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Wednesday, August 14th. Cimarex Energy’s payout ratio is currently 10.81%.

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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