Analysts Offer Predictions for Cimarex Energy Co’s FY2018 Earnings (NYSE:XEC)

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.

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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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Earnings History and Estimates for Cimarex Energy (NYSE:XEC)

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