Jefferies Group Brokers Lift Earnings Estimates for Cimarex Energy Co. (XEC)
Cimarex Energy Co. (NYSE:XEC) – Equities research analysts at Jefferies Group boosted their FY2016 earnings per share estimates for shares of Cimarex Energy in a report released on Thursday. Jefferies Group analyst J. Wolff now anticipates that the brokerage will post earnings per share of $0.56 for the year, up from their prior estimate of $0.46. Jefferies Group has a “Sell” rating and a $116.00 price target on the stock.
Other equities research analysts have also recently issued research reports about the company. KLR Group upgraded Cimarex Energy from a “hold” rating to an “accumulate” rating and upped their price objective for the stock from $143.00 to $152.00 in a research note on Monday, November 7th. FBR & Co reiterated a “buy” rating on shares of Cimarex Energy in a research note on Thursday, November 3rd. Stifel Nicolaus upped their price objective on Cimarex Energy from $142.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, November 1st. Citigroup Inc. upped their price objective on Cimarex Energy from $149.00 to $157.00 and gave the stock a “buy” rating in a research note on Monday, September 12th. Finally, Canaccord Genuity dropped their price objective on Cimarex Energy from $112.00 to $94.00 and set a “hold” rating on the stock in a research note on Thursday, August 11th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $127.58.
Cimarex Energy (NYSE:XEC) opened at 125.66 on Friday. The company has a 50-day moving average price of $132.30 and a 200 day moving average price of $124.06. Cimarex Energy has a 12 month low of $72.77 and a 12 month high of $142.20. The company’s market capitalization is $11.94 billion.
A number of institutional investors have recently bought and sold shares of the stock. Cypress Asset Management Inc. TX increased its position 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 valued at $359,000 after buying an additional 342 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Cimarex Energy during the second quarter valued at approximately $322,000. Creative Planning boosted its stake in shares of Cimarex Energy by 21.7% in the second quarter. Creative Planning now owns 2,593 shares of the company’s stock valued at $309,000 after buying an additional 463 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Cimarex Energy by 1.3% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 81,165 shares of the company’s stock valued at $9,685,000 after buying an additional 1,053 shares during the last quarter. Finally, Exxonmobil Investment Management Inc. TX boosted its stake in shares of Cimarex Energy by 6.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 24,543 shares of the company’s stock valued at $2,928,000 after buying an additional 1,457 shares during the last quarter. Hedge funds and other institutional investors own 92.77% of the company’s stock.
In other Cimarex Energy news, COO Joseph R. Albi sold 1,500 shares of the stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $121.04, for a total value of $181,560.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Francis Brian Barron sold 500 shares of the stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $135.54, for a total value of $67,770.00. Following the completion of the transaction, the senior vice president now owns 67,039 shares of the company’s stock, valued at $9,086,466.06. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $0.32 annualized dividend and a yield of 0.25%. Cimarex Energy’s dividend payout ratio is presently -2.70%.
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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