SunTrust Banks Research Analysts Lift Earnings Estimates for Cimarex Energy Co (XEC)

Cimarex Energy Co (NYSE:XEC) – Equities researchers at SunTrust Banks lifted their FY2018 earnings per share estimates for shares of Cimarex Energy in a research report issued to clients and investors on Thursday. SunTrust Banks analyst N. Dingmann now anticipates that the oil and gas producer will post earnings of $7.54 per share for the year, up from their prior estimate of $7.23. SunTrust Banks has a “Buy” rating and a $140.00 price objective on the stock. SunTrust Banks also issued estimates for Cimarex Energy’s FY2019 earnings at $8.87 EPS.

Several other analysts have also recently commented on the stock. KLR Group upgraded shares of Cimarex Energy from a “hold” rating to a “buy” rating and boosted their price target for the stock from $138.00 to $142.00 in a research note on Tuesday. BMO Capital Markets decreased their price target on shares of Cimarex Energy to $125.00 and set an “outperform” rating on the stock in a research note on Friday, February 16th. Jefferies Group set a $105.00 price target on shares of Cimarex Energy and gave the stock a “hold” rating in a research note on Friday, February 16th. Imperial Capital boosted their price target on shares of Cimarex Energy from $147.00 to $154.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Finally, Credit Suisse Group decreased their price target on shares of Cimarex Energy from $152.00 to $147.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $139.71.

Shares of Cimarex Energy (XEC) traded down $1.32 during mid-day trading on Monday, reaching $97.05. 550,730 shares of the company’s stock traded hands, compared to its average volume of 1,204,435. The stock has a market cap of $9,405.11, a PE ratio of 18.95 and a beta of 1.14. Cimarex Energy has a 1-year low of $89.49 and a 1-year high of $130.71. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.42 and a current ratio of 1.38.

Cimarex Energy (NYSE:XEC) last announced its quarterly earnings results on Wednesday, February 14th. The oil and gas producer reported $1.47 EPS for the quarter, topping the consensus estimate of $1.40 by $0.07. The business had revenue of $550.90 million for the quarter, compared to analysts’ expectations of $537.74 million. Cimarex Energy had a net margin of 25.77% and a return on equity of 18.73%. The business’s quarterly revenue was up 44.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.60 EPS.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.32 annualized dividend and a yield of 0.33%. Cimarex Energy’s payout ratio is 6.17%.

In related news, VP Joseph R. Albi sold 2,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $112.41, for a total transaction of $224,820.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Lisa A. Stewart purchased 248 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The shares were purchased at an average price of $112.06 per share, for a total transaction of $27,790.88. The disclosure for this purchase can be found here. Insiders have sold a total of 15,729 shares of company stock worth $1,800,003 over the last quarter. 1.70% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Advisor Group Inc. grew its holdings 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. Assetmark Inc. grew its holdings in Cimarex Energy by 1,015.9% during the 4th quarter. Assetmark Inc. now owns 982 shares of the oil and gas producer’s stock valued at $120,000 after purchasing an additional 894 shares during the last quarter. LMR Partners LLP bought a new position in Cimarex Energy during the 4th quarter valued at about $200,000. Eagle Ridge Investment Management bought a new position in Cimarex Energy during the 4th quarter valued at about $204,000. Finally, Capital Advisors Inc. OK bought a new position in Cimarex Energy during the 4th quarter valued at about $205,000. Institutional investors own 91.68% of the company’s stock.

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Cimarex Energy Company Profile

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.

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

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