Cimarex Energy Co (NYSE:XEC) – Stock analysts at SunTrust Banks raised their FY2017 earnings per share (EPS) estimates for Cimarex Energy in a research note issued to investors on Tuesday. SunTrust Banks analyst N. Dingmann now anticipates that the oil and gas producer will post earnings of $4.52 per share for the year, up from their prior estimate of $4.44. SunTrust Banks currently has a “Buy” rating and a $140.00 price target on the stock. SunTrust Banks also issued estimates for Cimarex Energy’s Q4 2017 earnings at $1.32 EPS.
Several other analysts have also commented on the company. Morgan Stanley cut their price objective on Cimarex Energy from $168.00 to $165.00 and set an “overweight” rating for the company in a report on Wednesday. Deutsche Bank assumed coverage on Cimarex Energy in a report on Thursday, February 1st. They issued a “buy” rating and a $164.00 price objective for the company. Stifel Nicolaus set a $188.00 price objective on Cimarex Energy and gave the stock a “buy” rating in a report on Monday, January 29th. Jefferies Group set a $122.00 price objective on Cimarex Energy and gave the stock a “hold” rating in a report on Tuesday, January 30th. Finally, Credit Suisse Group set a $152.00 target price on Cimarex Energy and gave the company a “buy” rating in a research report on Tuesday, January 23rd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the company. Cimarex Energy has an average rating of “Buy” and an average price target of $141.38.
Several institutional investors have recently made changes to their positions in XEC. Advisor Group Inc. lifted its position in shares of 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 acquiring an additional 60 shares in the last quarter. LMR Partners LLP purchased a new position in shares of Cimarex Energy in the fourth quarter valued at about $200,000. Eagle Ridge Investment Management purchased a new position in shares of Cimarex Energy in the fourth quarter valued at about $204,000. Capital Advisors Inc. OK purchased a new position in shares of Cimarex Energy in the fourth quarter valued at about $205,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Cimarex Energy in the third quarter valued at about $206,000. Institutional investors and hedge funds own 92.34% of the company’s stock.
In other news, CEO Thomas E. Jorden sold 5,000 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $113.14, for a total value of $565,700.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Krista L. Johnson sold 5,341 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $116.46, for a total value of $622,012.86. Following the completion of the transaction, the vice president now owns 42,938 shares in the company, valued at $5,000,559.48. The disclosure for this sale can be found here. Insiders sold 22,820 shares of company stock worth $2,622,880 over the last 90 days. Company insiders own 1.70% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be given a dividend of $0.08 per share. The ex-dividend date is Wednesday, February 14th. This represents a $0.32 annualized dividend and a yield of 0.30%. Cimarex Energy’s dividend payout ratio (DPR) is presently 8.00%.
About Cimarex Energy
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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