Cimarex Energy Co (NYSE:XEC) – Analysts at SunTrust Banks decreased their FY2018 earnings per share estimates for Cimarex Energy in a research report issued on Thursday. SunTrust Banks analyst N. Dingmann now forecasts that the oil and gas producer will post earnings per share of $5.16 for the year, down from their prior forecast of $5.80. SunTrust Banks also issued estimates for Cimarex Energy’s FY2019 earnings at $6.62 EPS and FY2020 earnings at $8.64 EPS.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.11. Cimarex Energy had a net margin of 15.64% and a return on equity of 13.29%. The business had revenue of $456.50 million for the quarter, compared to analyst estimates of $441.52 million. During the same period last year, the business earned $0.07 EPS. The company’s revenue was up 52.7% on a year-over-year basis.
Other research analysts also recently issued reports about the stock. Williams Capital upgraded shares of Cimarex Energy from a “hold” rating to a “buy” rating and upped their target price for the company from $148.00 to $160.00 in a research note on Monday, May 15th. They noted that the move was a valuation call. UBS AG restated a “neutral” rating and issued a $134.00 target price (up from $131.00) on shares of Cimarex Energy in a research note on Friday, May 12th. Scotiabank set a $143.00 target price on shares of Cimarex Energy and gave the company a “buy” rating in a research note on Saturday, July 1st. Jefferies Group LLC set a $119.00 target price on shares of Cimarex Energy and gave the company a “hold” rating in a research note on Wednesday, May 17th. Finally, KLR Group restated a “buy” rating and issued a $151.00 target price (up from $149.00) on shares of Cimarex Energy in a research note on Wednesday, May 17th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $139.10.
Shares of Cimarex Energy (NYSE XEC) opened at 97.52 on Monday. The stock has a 50 day moving average of $95.06 and a 200-day moving average of $112.85. The firm has a market capitalization of $9.11 billion, a price-to-earnings ratio of 34.93 and a beta of 1.32. Cimarex Energy has a one year low of $89.49 and a one year high of $146.96.
Several institutional investors have recently added to or reduced their stakes in XEC. Turner Investments LLC purchased a new position in Cimarex Energy during the second quarter valued at approximately $100,000. Global X Management Co. LLC raised its position in Cimarex Energy by 14.1% in the first quarter. Global X Management Co. LLC now owns 1,103 shares of the oil and gas producer’s stock valued at $132,000 after buying an additional 136 shares in the last quarter. Advisor Group Inc. raised its position in Cimarex Energy by 5.3% in the second quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock valued at $113,000 after buying an additional 60 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in Cimarex Energy during the first quarter valued at approximately $169,000. Finally, Winch Advisory Services LLC purchased a new position in Cimarex Energy during the first quarter valued at approximately $186,000. Institutional investors and hedge funds own 94.55% of the company’s stock.
In other news, VP Stephen P. Bell sold 5,000 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $117.24, for a total transaction of $586,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas E. Jorden sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $101.67, for a total transaction of $254,175.00. The disclosure for this sale can be found here. Insiders have sold 12,136 shares of company stock valued at $1,344,633 in the last 90 days. Insiders own 1.70% of the company’s stock.
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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