What Hedge Funds Think about Cimarex Energy Co (XEC)?

As aggregate interest increased, specific money managers have been driving this bullishness. Till Bechtolsheimer’s Arosa Capital Management established the most outsized position in Cimarex Energy Co (NYSE:XEC). Arosa Capital Management had $13.1 million invested in the company at the end of the quarter. Dmitry Balyasny’s Balyasny Asset Management also initiated a $12.9 million position during the quarter. The other funds with brand new XEC positions are Neil Chriss’ Hutchin Hill Capital, Ken Griffin’s Citadel Investment Group, and Ben Gambill’s Tiger Eye Capital.

Let’s go over hedge fund activity in other stocks similar to Cimarex Energy Co (NYSE:XEC). We will take a look at Liberty Broadband Corp (NASDAQ:LBRDA), Ferrari N.V. (NYSE:RACE), Motorola Solutions Inc (NYSE:MSI), and McCormick & Company, Incorporated (NYSE:MKC). All of these stocks’ market caps are closest to XEC’s market cap.

As you can see these stocks had an average of 23 funds with bullish positions and the average amount invested in these stocks was $493 million. That figure was $1.64 billion in XEC’s case. Motorola Solutions Inc (NYSE:MSI) is the most popular stock in this table, while Ferrari N.V. (NYSE:RACE) is the least popular one with only 16 bullish hedge fund positions. Compared to these stocks Cimarex Energy Co (NYSE:XEC) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: none