Cimarex Energy Co (NYSE:XEC) – Stock analysts at KeyCorp dropped their Q1 2018 earnings per share (EPS) estimates for Cimarex Energy in a research note issued on Wednesday. KeyCorp analyst D. Deckelbaum now anticipates that the oil and gas producer will post earnings per share of $1.70 for the quarter, down from their prior forecast of $1.72. KeyCorp currently has a “Buy” rating and a $140.00 price target on the stock. KeyCorp also issued estimates for Cimarex Energy’s Q3 2018 earnings at $1.75 EPS, Q4 2018 earnings at $2.15 EPS and FY2018 earnings at $7.22 EPS.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings data on Wednesday, February 14th. The oil and gas producer reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.07. Cimarex Energy had a net margin of 25.77% and a return on equity of 18.73%. The business had revenue of $550.90 million during the quarter, compared to the consensus estimate of $537.74 million. During the same quarter in the prior year, the firm earned $0.60 EPS. The company’s revenue for the quarter was up 44.1% compared to the same quarter last year.
Several other research firms have also recently commented on XEC. Piper Jaffray Companies restated a “hold” rating and issued a $138.00 target price on shares of Cimarex Energy in a research report on Tuesday, January 9th. KLR Group cut shares of Cimarex Energy from a “buy” rating to a “hold” rating and set a $138.00 target price for the company. in a research report on Tuesday, January 23rd. Credit Suisse Group set a $152.00 target price on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. They noted that the move was a valuation call. Cowen set a $165.00 target price on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Thursday, January 18th. Finally, Jefferies Group set a $122.00 target price on shares of Cimarex Energy and gave the stock a “hold” rating in a research report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $136.64.
Shares of Cimarex Energy (XEC) opened at $92.48 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.30 and a current ratio of 1.38. Cimarex Energy has a 1 year low of $89.49 and a 1 year high of $130.16. The firm has a market cap of $8,793.67, a PE ratio of 17.82 and a beta of 1.25.
A number of hedge funds have recently added to or reduced their stakes in the stock. Boston Partners lifted its stake in Cimarex Energy by 28.0% during the fourth quarter. Boston Partners now owns 1,812,143 shares of the oil and gas producer’s stock valued at $221,100,000 after purchasing an additional 395,877 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Cimarex Energy by 41.8% during the third quarter. Ameriprise Financial Inc. now owns 1,623,569 shares of the oil and gas producer’s stock valued at $184,549,000 after purchasing an additional 478,543 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Cimarex Energy by 11.4% during the fourth quarter. Wells Fargo & Company MN now owns 1,506,133 shares of the oil and gas producer’s stock valued at $183,763,000 after purchasing an additional 153,665 shares during the last quarter. Van ECK Associates Corp lifted its stake in Cimarex Energy by 2.6% during the third quarter. Van ECK Associates Corp now owns 1,280,335 shares of the oil and gas producer’s stock valued at $145,536,000 after purchasing an additional 32,188 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its stake in Cimarex Energy by 5.3% during the third quarter. Artisan Partners Limited Partnership now owns 1,143,856 shares of the oil and gas producer’s stock valued at $130,022,000 after purchasing an additional 57,411 shares during the last quarter. 92.46% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Thomas E. Jorden sold 2,500 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $122.88, for a total transaction of $307,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harold R. Logan, Jr. sold 1,900 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $97.82, for a total transaction of $185,858.00. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Thursday, March 15th will be paid a $0.16 dividend. This is a positive change from Cimarex Energy’s previous quarterly dividend of $0.08. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Monday, May 14th. Cimarex Energy’s dividend payout ratio is currently 6.17%.
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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.
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