Cimarex Energy Co. Expected to Earn FY2016 Earnings of $0.67 Per Share (XEC)
Cimarex Energy Co. (NYSE:XEC) – Analysts at US Capital Advisors lowered their FY2016 EPS estimates for shares of Cimarex Energy in a research note issued on Thursday. US Capital Advisors analyst C. Horwitz now expects that the brokerage will earn $0.67 per share for the year, down from their prior estimate of $0.80.
Several other equities analysts have also weighed in on XEC. Barclays PLC lifted their target price on shares of Cimarex Energy from $117.00 to $138.00 and gave the company an “overweight” rating in a report on Monday, August 8th. Deutsche Bank AG lifted their price target on shares of Cimarex Energy from $120.00 to $140.00 and gave the stock a “hold” rating in a research note on Wednesday, August 10th. Canaccord Genuity dropped their price target on shares of Cimarex Energy from $112.00 to $94.00 and set a “hold” rating on the stock in a research note on Thursday, August 11th. Jefferies Group reaffirmed a “sell” rating on shares of Cimarex Energy in a research note on Thursday, August 11th. Finally, Citigroup Inc. lifted their price target on shares of Cimarex Energy from $127.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday, August 11th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $127.58.
Shares of Cimarex Energy (NYSE:XEC) opened at 128.84 on Monday. Cimarex Energy has a 52 week low of $72.77 and a 52 week high of $142.20. The stock’s 50 day moving average is $132.23 and its 200 day moving average is $124.01. The firm’s market cap is $12.24 billion.
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 0.25%. Cimarex Energy’s payout ratio is currently -2.70%.
In related news, CEO Thomas E. Jorden sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $122.50, for a total value of $306,250.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Joseph R. Albi sold 3,093 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $123.47, for a total transaction of $381,892.71. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Cypress Asset Management Inc. TX increased its stake in Cimarex Energy by 12.8% in the second quarter. Cypress Asset Management Inc. TX now owns 3,008 shares of the company’s stock worth $359,000 after buying an additional 342 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in Cimarex Energy during the second quarter worth about $322,000. Creative Planning raised its stake in Cimarex Energy by 21.7% in the second quarter. Creative Planning now owns 2,593 shares of the company’s stock worth $309,000 after buying an additional 463 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in Cimarex Energy by 1.3% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 81,165 shares of the company’s stock worth $9,685,000 after buying an additional 1,053 shares in the last quarter. Finally, Exxonmobil Investment Management Inc. TX raised its stake in Cimarex Energy by 6.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 24,543 shares of the company’s stock worth $2,928,000 after buying an additional 1,457 shares in the last quarter. Institutional investors and hedge funds own 92.77% of the company’s stock.
About Cimarex Energy
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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