Cimarex Energy Co (NYSE:XEC) – Analysts at Capital One Financial Corporation increased their Q3 2017 earnings estimates for shares of Cimarex Energy in a research report issued to clients and investors on Monday. Capital One Financial Corporation analyst R. Tullis now anticipates that the oil and gas producer will earn $0.93 per share for the quarter, up from their previous forecast of $0.88. Capital One Financial Corporation also issued estimates for Cimarex Energy’s Q4 2017 earnings at $0.99 EPS and FY2018 earnings at $4.38 EPS.
XEC has been the topic of several other reports. Citigroup Inc. reaffirmed a “buy” rating and issued a $120.00 target price on shares of Cimarex Energy in a report on Friday, October 13th. Cowen and Company set a $135.00 target price on Cimarex Energy and gave the stock a “buy” rating in a report on Friday, August 25th. Imperial Capital initiated coverage on Cimarex Energy in a report on Tuesday, September 19th. They issued an “outperform” rating and a $135.00 target price on the stock. Stifel Nicolaus set a $168.00 target price on Cimarex Energy and gave the stock a “buy” rating in a report on Thursday, October 5th. Finally, Barclays PLC lifted their target price on Cimarex Energy from $117.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, October 11th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $134.86.
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Cimarex Energy (NYSE:XEC) opened at 116.32 on Wednesday. Cimarex Energy has a 12 month low of $89.49 and a 12 month high of $146.96. The company has a market capitalization of $10.86 billion, a price-to-earnings ratio of 41.66 and a beta of 1.35. The stock’s 50 day moving average price is $108.67 and its 200 day moving average price is $105.94.
Cimarex Energy (NYSE:XEC) last announced its earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.11. The business had revenue of $456.50 million for the quarter, compared to analyst estimates of $441.52 million. Cimarex Energy had a return on equity of 13.29% and a net margin of 15.64%. The company’s quarterly revenue was up 52.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.07 EPS.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Toronto Dominion Bank grew its stake in shares of Cimarex Energy by 25.5% during the second quarter. Toronto Dominion Bank now owns 32,218 shares of the oil and gas producer’s stock valued at $3,028,000 after buying an additional 6,551 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Cimarex Energy by 4.2% during the second quarter. Public Employees Retirement System of Ohio now owns 54,070 shares of the oil and gas producer’s stock valued at $5,083,000 after buying an additional 2,202 shares during the last quarter. Colony Group LLC grew its stake in shares of Cimarex Energy by 7.1% during the second quarter. Colony Group LLC now owns 15,977 shares of the oil and gas producer’s stock valued at $1,502,000 after buying an additional 1,058 shares during the last quarter. Verition Fund Management LLC grew its stake in shares of Cimarex Energy by 4.6% during the second quarter. Verition Fund Management LLC now owns 7,949 shares of the oil and gas producer’s stock valued at $747,000 after buying an additional 349 shares during the last quarter. Finally, Kingfisher Capital LLC grew its stake in shares of Cimarex Energy by 3.1% during the second quarter. Kingfisher Capital LLC now owns 11,778 shares of the oil and gas producer’s stock valued at $1,107,000 after buying an additional 350 shares during the last quarter. 90.06% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Stephen P. Bell sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $105.00, for a total transaction of $262,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Joseph R. Albi sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $106.16, for a total value of $212,320.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,299 shares of company stock worth $2,204,271. Insiders own 1.70% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. Cimarex Energy’s dividend payout ratio is 12.03%.
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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