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.
COPYRIGHT VIOLATION NOTICE: “SunTrust Banks Research Analysts Lift Earnings Estimates for Cimarex Energy Co (XEC)” was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be viewed at https://ledgergazette.com/2018/02/21/suntrust-banks-research-analysts-lift-earnings-estimates-for-cimarex-energy-co-xec.html.
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.
Receive News & Ratings for Cimarex Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cimarex Energy and related companies with MarketBeat.com's FREE daily email newsletter.