Analysts Offer Predictions for Cimarex Energy Co.’s FY2016 Earnings (XEC)
Cimarex Energy Co. (NYSE:XEC) – Investment analysts at Williams Capital lowered their FY2016 earnings per share (EPS) estimates for Cimarex Energy in a note issued to investors on Monday. Williams Capital analyst G. Sorbara now expects that the brokerage will post earnings of $0.61 per share for the year, down from their previous estimate of $0.73. Williams Capital has a “Hold” rating and a $143.00 price objective on the stock. Williams Capital also issued estimates for Cimarex Energy’s Q4 2016 earnings at $0.52 EPS, FY2017 earnings at $3.21 EPS and FY2018 earnings at $5.64 EPS.
A number of other research firms have also weighed in on XEC. Stifel Nicolaus reaffirmed a “buy” rating on shares of Cimarex Energy in a report on Wednesday, August 31st. Jefferies Group reaffirmed a “sell” rating on shares of Cimarex Energy in a report on Thursday, August 11th. Deutsche Bank AG lifted their target price on Cimarex Energy from $120.00 to $140.00 and gave the company a “hold” rating in a report on Wednesday, August 10th. Nomura reaffirmed a “hold” rating and set a $129.00 target price on shares of Cimarex Energy in a report on Monday, November 7th. Finally, FBR & Co assumed coverage on Cimarex Energy in a research report on Tuesday, September 13th. They set an “outperform” rating and a $160.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $127.58.
Cimarex Energy (NYSE:XEC) opened at 125.79 on Wednesday. Cimarex Energy has a 1-year low of $72.77 and a 1-year high of $142.20. The stock has a 50 day moving average price of $132.39 and a 200 day moving average price of $124.04. The firm’s market cap is $11.95 billion.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend is Thursday, November 10th. Cimarex Energy’s dividend payout ratio (DPR) is -2.70%.
In other Cimarex Energy news, VP Joseph R. Albi sold 3,093 shares of the business’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $123.47, for a total value of $381,892.71. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Thomas E. Jorden sold 2,500 shares of the business’s stock in a transaction on Friday, November 4th. The stock was sold at an average price of $122.50, for a total value of $306,250.00. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in XEC. First Trust Advisors LP increased its position in shares of Cimarex Energy by 227.1% in the third quarter. First Trust Advisors LP now owns 271,264 shares of the company’s stock worth $36,450,000 after buying an additional 188,333 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Cimarex Energy by 68.5% in the first quarter. Envestnet Asset Management Inc. now owns 13,066 shares of the company’s stock worth $1,271,000 after buying an additional 5,310 shares during the last quarter. Shell Asset Management Co. increased its position in shares of Cimarex Energy by 106.5% in the second quarter. Shell Asset Management Co. now owns 27,330 shares of the company’s stock worth $3,261,000 after buying an additional 14,095 shares during the last quarter. National Pension Service increased its position in shares of Cimarex Energy by 4.4% in the first quarter. National Pension Service now owns 68,422 shares of the company’s stock worth $6,655,000 after buying an additional 2,908 shares during the last quarter. Finally, AXA increased its position in shares of Cimarex Energy by 22.3% in the first quarter. AXA now owns 1,681 shares of the company’s stock worth $164,000 after buying an additional 307 shares during the last quarter. 92.77% of the stock is currently owned by hedge funds and other institutional investors.
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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