Cimarex Energy Co (NYSE:XEC) – Investment analysts at Williams Capital reduced their Q1 2018 EPS estimates for Cimarex Energy in a research report issued to clients and investors on Thursday, Zacks Investment Research reports. 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 target 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.
Several other analysts have also weighed in on XEC. UBS Group began coverage on Cimarex Energy in a report on Wednesday, March 7th. They set a “buy” rating and a $118.00 price target on the stock. Credit Suisse Group restated a “buy” rating and set a $129.00 price target (down previously from $147.00) on shares of Cimarex Energy in a report on Monday, March 5th. Deutsche Bank began coverage on Cimarex Energy in a report on Thursday, February 1st. They set a “buy” rating and a $164.00 price target on the stock. Jefferies Group set a $117.00 price target on Cimarex Energy and gave the company a “hold” rating in a report on Wednesday, December 20th. Finally, BMO Capital Markets cut their price objective on Cimarex Energy to $125.00 and set an “outperform” rating on the stock in a research report on Friday, February 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have issued a buy rating to the company’s stock. Cimarex Energy presently has an average rating of “Buy” and a consensus price target of $138.10.
Cimarex Energy (NYSE XEC) traded up $0.98 during trading hours on Monday, reaching $93.54. The company had a trading volume of 1,427,168 shares, compared to its average volume of 1,460,000. Cimarex Energy has a one year low of $89.49 and a one year high of $130.16. The stock has a market cap of $8,910.00, a price-to-earnings ratio of 20.60 and a beta of 1.24. The company has a quick ratio of 1.30, a current ratio of 1.38 and a debt-to-equity ratio of 0.58.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings data on Wednesday, February 14th. The oil and gas producer reported $1.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.07. Cimarex Energy had a return on equity of 18.73% and a net margin of 25.77%. The business had revenue of $550.90 million for the quarter, compared to analysts’ expectations of $537.74 million. During the same period in the prior year, the firm earned $0.60 EPS. The company’s revenue for the quarter was up 44.1% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Thursday, March 15th will be given a dividend of $0.16 per share. This is an increase from Cimarex Energy’s previous quarterly dividend of $0.08. The ex-dividend date is Monday, May 14th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.68%. Cimarex Energy’s dividend payout ratio is presently 7.05%.
In related news, CEO Thomas E. Jorden sold 5,000 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $113.14, for a total transaction of $565,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harold R. Logan, Jr. sold 1,900 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $97.82, for a total value of $185,858.00. The disclosure for this sale can be found here. Insiders have sold a total of 11,400 shares of company stock worth $1,283,578 in the last three months. Corporate insiders own 1.70% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Advisor Group Inc. lifted its stake in shares of Cimarex Energy by 5.3% during the 2nd quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock worth $113,000 after purchasing an additional 60 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Cimarex Energy by 1,015.9% during the 4th quarter. Assetmark Inc. now owns 982 shares of the oil and gas producer’s stock worth $120,000 after purchasing an additional 894 shares during the last quarter. LMR Partners LLP purchased a new stake in shares of Cimarex Energy during the 4th quarter worth $200,000. Eagle Ridge Investment Management purchased a new stake in shares of Cimarex Energy during the 4th quarter worth $204,000. Finally, Capital Advisors Inc. OK purchased a new stake in shares of Cimarex Energy during the 4th quarter worth $205,000. Hedge funds and other institutional investors own 92.46% of the company’s stock.
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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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