Cimarex Energy Co (NYSE:XEC) – Equities research analysts at Williams Capital cut their Q1 2018 earnings estimates for shares of Cimarex Energy in a research report issued to clients and investors on Thursday. Williams Capital analyst G. Sorbara now anticipates that the oil and gas producer will post earnings per share of $1.57 for the quarter, down from their prior forecast of $1.79. Williams Capital has a “Buy” rating and a $154.00 price objective on the stock. Williams Capital also issued estimates for Cimarex Energy’s Q2 2018 earnings at $1.51 EPS, Q3 2018 earnings at $1.74 EPS, Q4 2018 earnings at $2.04 EPS, FY2018 earnings at $6.86 EPS, Q1 2019 earnings at $2.36 EPS, Q2 2019 earnings at $2.28 EPS, Q3 2019 earnings at $2.45 EPS, Q4 2019 earnings at $2.71 EPS, FY2019 earnings at $9.79 EPS and FY2020 earnings at $12.99 EPS.
Other equities research analysts have also issued reports about the stock. Seaport Global Securities upgraded shares of Cimarex Energy from a “sell” rating to a “buy” rating in a report on Tuesday, December 19th. KeyCorp restated a “buy” rating on shares of Cimarex Energy in a report on Wednesday, November 8th. Scotiabank set a $143.00 price objective on shares of Cimarex Energy and gave the stock a “buy” rating in a report on Saturday, November 25th. Cowen set a $165.00 price objective on shares of Cimarex Energy and gave the stock a “buy” rating in a report on Thursday, January 18th. Finally, Credit Suisse Group set a $152.00 price objective on shares of Cimarex Energy and gave the stock a “buy” rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have issued a buy rating to the stock. Cimarex Energy currently has an average rating of “Buy” and an average target price of $139.71.
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, topping the Zacks’ consensus estimate of $1.40 by $0.07. The firm had revenue of $550.90 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 EPS.
Large investors have recently added to or reduced their stakes in the company. Assetmark Inc. grew its position in shares of Cimarex Energy by 1,015.9% in the 4th quarter. Assetmark Inc. now owns 982 shares of the oil and gas producer’s stock worth $120,000 after buying an additional 894 shares during the period. Advisor Group Inc. grew its position in shares of Cimarex Energy by 5.3% in the 2nd quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock worth $113,000 after buying an additional 60 shares during the period. LMR Partners LLP purchased a new stake in shares of Cimarex Energy in the 4th quarter worth about $200,000. Eagle Ridge Investment Management purchased a new stake in shares of Cimarex Energy in the 4th quarter worth about $204,000. Finally, Capital Advisors Inc. OK purchased a new stake in shares of Cimarex Energy in the 4th quarter worth about $205,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Thomas E. Jorden sold 5,000 shares of the company’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $113.14, for a total value of $565,700.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Lisa A. Stewart bought 248 shares of Cimarex Energy stock in a transaction dated Friday, December 8th. The stock was acquired at an average cost of $112.06 per share, for a total transaction of $27,790.88. The disclosure for this purchase can be found here. Insiders sold a total of 15,729 shares of company stock valued at $1,800,003 over the last 90 days. Company insiders own 1.70% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be issued a $0.08 dividend. 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 dividend payout ratio (DPR) is presently 6.17%.
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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