Cimarex Energy Co (NYSE:XEC) – Equities research analysts at SunTrust Banks raised their FY2018 earnings estimates for shares of Cimarex Energy in a research report issued on Tuesday, Zacks Investment Research reports. SunTrust Banks analyst N. Dingmann now forecasts that the oil and gas producer will earn $5.91 per share for the year, up from their prior forecast of $5.15. SunTrust Banks currently has a “Hold” rating and a $127.00 price objective on the stock. SunTrust Banks also issued estimates for Cimarex Energy’s FY2020 earnings at $9.71 EPS.
Several other equities analysts have also recently commented on XEC. Piper Jaffray Companies reduced their price objective on shares of Cimarex Energy from $141.00 to $116.00 and set a “neutral” rating for the company in a research note on Monday, September 18th. Imperial Capital assumed coverage on shares of Cimarex Energy in a research note on Tuesday, September 19th. They issued an “outperform” rating and a $135.00 price target for the company. Stifel Nicolaus set a $168.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a research note on Thursday, October 5th. Barclays boosted their price target on shares of Cimarex Energy from $117.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 11th. Finally, Citigroup reissued a “buy” rating and issued a $120.00 price target on shares of Cimarex Energy in a research note on Friday, October 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $136.55.
Cimarex Energy (NYSE XEC) opened at $127.14 on Thursday. The firm has a market cap of $12,110.00, a PE ratio of 31.79 and a beta of 1.33. Cimarex Energy has a 12 month low of $89.49 and a 12 month high of $144.30. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.51 and a quick ratio of 1.42.
Cimarex Energy (NYSE:XEC) last posted its earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.12. The firm had revenue of $463.68 million during the quarter, compared to the consensus estimate of $451.53 million. Cimarex Energy had a net margin of 20.45% and a return on equity of 16.11%. The company’s revenue was up 38.1% on a year-over-year basis. During the same quarter last year, the company earned $0.53 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be issued a $0.08 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $0.32 annualized dividend and a yield of 0.25%. Cimarex Energy’s dividend payout ratio (DPR) is presently 8.00%.
In other news, CEO Thomas E. Jorden sold 2,500 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $122.88, for a total value of $307,200.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Krista L. Johnson sold 5,341 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $116.46, for a total transaction of $622,012.86. Following the completion of the sale, the vice president now directly owns 42,938 shares in the company, valued at $5,000,559.48. The disclosure for this sale can be found here. Insiders sold a total of 32,264 shares of company stock worth $3,804,134 over the last ninety days. Insiders own 1.70% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Advisor Group Inc. grew its position in Cimarex Energy by 5.3% during the 2nd quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock valued at $113,000 after purchasing an additional 60 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Cimarex Energy during the 3rd quarter valued at about $206,000. Pacer Advisors Inc. grew its position in Cimarex Energy by 8.3% during the 2nd quarter. Pacer Advisors Inc. now owns 1,935 shares of the oil and gas producer’s stock valued at $182,000 after purchasing an additional 148 shares during the last quarter. Cue Financial Group Inc. purchased a new stake in Cimarex Energy during the 3rd quarter valued at about $224,000. Finally, Farr Miller & Washington LLC DC purchased a new stake in Cimarex Energy during the 3rd quarter valued at about $227,000. 92.00% of the stock is currently owned by institutional investors.
About Cimarex Energy
Cimarex Energy Co is an independent oil and gas exploration and production company. The Company operates in exploration and production (E&P) segment. Its operations are located in Oklahoma, Texas and New Mexico. Its E&P activities take place primarily in two areas: the Permian Basin and the Mid-Continent region.
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