Cimarex Energy (NYSE:XEC) – Equities researchers at Piper Jaffray Companies lowered their Q3 2018 earnings per share (EPS) estimates for Cimarex Energy in a research report issued on Sunday, May 20th. Piper Jaffray Companies analyst D. Kistler now anticipates that the oil and gas producer will post earnings per share of $1.89 for the quarter, down from their prior forecast of $1.99. Piper Jaffray Companies currently has a “Hold” rating and a $132.00 target price on the stock. Piper Jaffray Companies also issued estimates for Cimarex Energy’s Q4 2018 earnings at $2.21 EPS, Q2 2019 earnings at $2.53 EPS, Q3 2019 earnings at $2.82 EPS, Q4 2019 earnings at $3.15 EPS and FY2019 earnings at $10.94 EPS.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings data on Tuesday, May 8th. The oil and gas producer reported $1.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.73 by $0.09. Cimarex Energy had a return on equity of 20.67% and a net margin of 26.97%. The business had revenue of $567.10 million during the quarter, compared to analyst estimates of $568.46 million. During the same quarter in the previous year, the firm posted $1.05 EPS. The business’s revenue for the quarter was up 26.8% compared to the same quarter last year.
XEC has been the subject of a number of other research reports. SunTrust Banks upgraded Cimarex Energy from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a research report on Tuesday, February 6th. UBS assumed coverage on Cimarex Energy in a research report on Wednesday, March 7th. They set a “buy” rating and a $118.00 price target for the company. Stephens reiterated a “hold” rating and set a $113.00 price target on shares of Cimarex Energy in a research report on Thursday, March 15th. ValuEngine lowered Cimarex Energy from a “sell” rating to a “strong sell” rating in a research report on Monday, May 7th. Finally, Jefferies Group set a $105.00 price target on Cimarex Energy and gave the stock a “hold” rating in a research report on Friday, February 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $133.00.
Cimarex Energy opened at $99.35 on Wednesday, Marketbeat Ratings reports. The company has a quick ratio of 1.40, a current ratio of 1.49 and a debt-to-equity ratio of 0.54. Cimarex Energy has a 12-month low of $87.98 and a 12-month high of $130.16. The company has a market cap of $9.38 billion, a P/E ratio of 21.37 and a beta of 1.19.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 31st. Stockholders of record on Wednesday, August 15th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Tuesday, August 14th. Cimarex Energy’s dividend payout ratio is presently 13.76%.
In other news, CEO Thomas E. Jorden sold 2,500 shares of the business’s stock in a transaction on Wednesday, April 18th. The stock was sold at an average price of $100.00, for a total value of $250,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Harold R. Logan, Jr. sold 1,900 shares of the business’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. 1.70% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the company. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in shares of Cimarex Energy by 16.9% during the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 60,900 shares of the oil and gas producer’s stock worth $7,430,000 after purchasing an additional 8,800 shares during the period. Cerebellum GP LLC acquired a new stake in shares of Cimarex Energy during the fourth quarter worth $1,733,000. Carillon Tower Advisers Inc. acquired a new stake in shares of Cimarex Energy during the fourth quarter worth $3,855,000. Allianz Asset Management GmbH acquired a new stake in shares of Cimarex Energy during the fourth quarter worth $459,000. Finally, Envestnet Asset Management Inc. raised its position in shares of Cimarex Energy by 36.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 12,007 shares of the oil and gas producer’s stock worth $1,465,000 after purchasing an additional 3,231 shares during the period. 94.63% of the stock is currently owned by institutional investors.
About Cimarex Energy
Cimarex Energy Co operates as an independent oil and gas exploration and production company primarily in Oklahoma, Texas, and New Mexico. As of December 31, 2017, it had a total proved oil and gas reserves of 3.35 trillion cubic feet equivalent (Tcfe) consisting of 1.61 trillion cubic feet of natural gas, 0.82 Tcfe of oil, and 0.92 Tcfe of natural gas liquids primarily located in the Mid-Continent and Permian Basin regions.
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