Q4 2016 EPS Estimates for Cimarex Energy Co. Lifted by Analyst (XEC)
Cimarex Energy Co. (NYSE:XEC) – Equities research analysts at Jefferies Group increased their Q4 2016 earnings estimates for Cimarex Energy in a note issued to investors on Tuesday. Jefferies Group analyst J. Wolff now anticipates that the firm will post earnings per share of $0.52 for the quarter, up from their previous forecast of $0.45. Jefferies Group has a “Sell” rating on the stock.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.18. Cimarex Energy had a negative return on equity of 2.41% and a negative net margin of 153.32%. The business had revenue of $298.90 million for the quarter, compared to analyst estimates of $279.22 million. During the same period last year, the company earned $0.15 EPS. The firm’s revenue was down 29.6% on a year-over-year basis.
XEC has been the subject of several other reports. Wunderlich boosted their price objective on shares of Cimarex Energy from $122.00 to $139.00 and gave the company a “buy” rating in a research report on Thursday, June 30th. Zacks Investment Research downgraded shares of Cimarex Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, August 17th. Citigroup Inc. boosted their price objective on shares of Cimarex Energy from $127.00 to $149.00 and gave the company a “buy” rating in a research report on Thursday, August 11th. Barclays PLC boosted their price objective on shares of Cimarex Energy from $117.00 to $138.00 and gave the company an “overweight” rating in a research report on Monday, August 8th. Finally, JPMorgan Chase & Co. restated a “hold” rating on shares of Cimarex Energy in a research report on Thursday, June 30th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company. Cimarex Energy has a consensus rating of “Hold” and a consensus target price of $119.68.
Cimarex Energy (NYSE:XEC) traded up 2.93% on Wednesday, hitting $140.94. The stock had a trading volume of 841,302 shares. The company’s market capitalization is $13.39 billion. The company has a 50 day moving average of $132.70 and a 200 day moving average of $120.57. Cimarex Energy has a 12-month low of $72.77 and a 12-month high of $142.20.
Large investors have recently bought and sold shares of the company. Societe Generale acquired a new stake in Cimarex Energy during the second quarter worth $128,000. Point72 Asia Hong Kong Ltd purchased a new stake in Cimarex Energy during the second quarter valued at approximately $131,000. Mizuho Asset Management Co. Ltd. raised its stake in Cimarex Energy by 96.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,234 shares of the company’s stock valued at $147,000 after buying an additional 606 shares during the period. Euclid Advisors LLC purchased a new stake in Cimarex Energy during the second quarter valued at approximately $167,000. Finally, BOKF NA purchased a new stake in Cimarex Energy during the second quarter valued at approximately $178,000. Institutional investors own 92.38% of the company’s stock.
In related news, VP Gary R. Abbott sold 7,500 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $132.00, for a total value of $990,000.00. Following the sale, the vice president now owns 104,072 shares in the company, valued at approximately $13,737,504. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Francis Brian Barron sold 500 shares of the company’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $135.54, for a total transaction of $67,770.00. Following the completion of the sale, the senior vice president now owns 67,039 shares in the company, valued at approximately $9,086,466.06. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.23%. Cimarex Energy’s dividend payout ratio is presently -1.61%.
Cimarex Energy Company Profile
Cimarex Energy Co is an independent oil and gas exploration and production company. The Company’s segment is exploration and production. Its operations are located mainly in Oklahoma, Texas and New Mexico. Its operations are focused in approximately two main areas, such as the Permian Basin and the Mid-Continent region.
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