Point72 Asset Management L.P. Has $37.48 Million Stock Holdings in Cimarex Energy Co. (NYSE:XEC)

Point72 Asset Management L.P. cut its position in shares of Cimarex Energy Co. (NYSE:XEC) by 2.4% during the first quarter, Holdings Channel reports. The institutional investor owned 631,040 shares of the oil and gas producer’s stock after selling 15,314 shares during the quarter. Point72 Asset Management L.P.’s holdings in Cimarex Energy were worth $37,477,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. First Mercantile Trust Co. lifted its stake in Cimarex Energy by 6.1% during the first quarter. First Mercantile Trust Co. now owns 3,110 shares of the oil and gas producer’s stock worth $185,000 after purchasing an additional 180 shares during the period. Addison Capital Co lifted its stake in Cimarex Energy by 0.9% during the first quarter. Addison Capital Co now owns 27,876 shares of the oil and gas producer’s stock worth $1,656,000 after purchasing an additional 240 shares during the period. Ieq Capital LLC lifted its stake in Cimarex Energy by 0.4% during the first quarter. Ieq Capital LLC now owns 58,002 shares of the oil and gas producer’s stock worth $3,445,000 after purchasing an additional 247 shares during the period. Contravisory Investment Management Inc. bought a new position in Cimarex Energy during the first quarter worth about $28,000. Finally, The PNC Financial Services Group Inc. lifted its stake in Cimarex Energy by 5.3% during the first quarter. The PNC Financial Services Group Inc. now owns 10,244 shares of the oil and gas producer’s stock worth $607,000 after purchasing an additional 512 shares during the period. 91.32% of the stock is currently owned by institutional investors and hedge funds.

XEC has been the subject of a number of research analyst reports. Truist upgraded shares of Cimarex Energy from a “hold” rating to a “buy” rating and lifted their target price for the company from $70.00 to $80.00 in a research note on Wednesday. Scotiabank cut shares of Cimarex Energy from a “sector perform” rating to a “sector underperform” rating and lifted their target price for the company from $67.00 to $71.00 in a research note on Thursday, July 15th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Cimarex Energy in a research note on Wednesday, May 26th. Truist Securities upgraded shares of Cimarex Energy from a “hold” rating to a “buy” rating and lifted their target price for the company from $70.00 to $80.00 in a research note on Wednesday. Finally, Barclays cut shares of Cimarex Energy from an “overweight” rating to an “equal weight” rating and set a $72.00 target price for the company. in a research note on Thursday, June 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $72.27.

XEC opened at $65.54 on Thursday. The stock’s fifty day simple moving average is $69.91. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 1.19. Cimarex Energy Co. has a 52 week low of $22.39 and a 52 week high of $76.39. The firm has a market cap of $6.74 billion, a price-to-earnings ratio of -6.16, a PEG ratio of 0.47 and a beta of 2.60.

Cimarex Energy (NYSE:XEC) last announced its quarterly earnings results on Tuesday, May 4th. The oil and gas producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.01. Cimarex Energy had a negative net margin of 60.34% and a positive return on equity of 17.85%. The company had revenue of $679.47 million during the quarter, compared to analyst estimates of $584.19 million. During the same quarter in the previous year, the business earned $0.58 EPS. Equities analysts forecast that Cimarex Energy Co. will post 7.95 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 1st. Stockholders of record on Friday, August 13th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Thursday, August 12th. Cimarex Energy’s dividend payout ratio (DPR) is 77.70%.

Cimarex Energy Profile

Cimarex Energy Co operates as an independent oil and gas exploration and production company primarily in Texas, Oklahoma, and New Mexico. As of December 31, 2020, it had a total proved reserves of 531.0 million barrels of oil equivalent; 1.36 trillion cubic feet of proved gas reserves; 144.1 million barrels (MMBbls) of proved oil reserves; and 159.8 MMBbls of natural gas liquids reserves primarily located in the Permian Basin and Mid-Continent regions.

Further Reading: How is diluted EPS different from basic EPS?

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

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