Cimarex Energy Co (XEC) Expected to Post Q3 2017 Earnings of $0.82 Per Share
Cimarex Energy Co (NYSE:XEC) – Analysts at Jefferies Group dropped their Q3 2017 EPS estimates for shares of Cimarex Energy in a report issued on Monday. Jefferies Group analyst M. Hsu now anticipates that the oil and gas producer will post earnings of $0.82 per share for the quarter, down from their previous estimate of $0.87. Jefferies Group has a “Hold” rating and a $98.00 price objective on the stock. Jefferies Group also issued estimates for Cimarex Energy’s Q4 2017 earnings at $1.06 EPS, FY2017 earnings at $3.99 EPS, Q1 2018 earnings at $1.14 EPS, Q1 2019 earnings at $1.46 EPS, Q2 2019 earnings at $1.49 EPS, Q3 2019 earnings at $1.54 EPS and FY2019 earnings at $6.10 EPS.
Several other analysts have also weighed in on XEC. Wolfe Research lowered shares of Cimarex Energy from an “outperform” rating to a “market perform” rating in a report on Thursday, June 15th. Seaport Global Securities lowered shares of Cimarex Energy from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $141.00 to $77.00 in a report on Wednesday, June 21st. Stifel Nicolaus reaffirmed a “buy” rating on shares of Cimarex Energy in a report on Wednesday, June 28th. Scotiabank set a $143.00 price objective on shares of Cimarex Energy and gave the stock a “buy” rating in a report on Saturday, July 1st. Finally, Citigroup Inc. dropped their price objective on shares of Cimarex Energy from $150.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the stock. Cimarex Energy presently has an average rating of “Buy” and a consensus target price of $134.86.
Cimarex Energy (NYSE XEC) opened at 115.50 on Wednesday. Cimarex Energy has a 12 month low of $89.49 and a 12 month high of $146.96. The stock’s 50 day moving average price is $107.54 and its 200 day moving average price is $106.11. The firm has a market capitalization of $10.79 billion, a P/E ratio of 41.37 and a beta of 1.35.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.11. The business had revenue of $456.50 million during the quarter, compared to the consensus estimate of $441.52 million. Cimarex Energy had a return on equity of 13.29% and a net margin of 15.64%. The business’s revenue was up 52.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.07 earnings per share.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.28%. Cimarex Energy’s payout ratio is presently 12.03%.
In other Cimarex Energy news, Director Harold R. Logan, Jr. sold 913 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $105.83, for a total value of $96,622.79. Following the transaction, the director now directly owns 9,299 shares of the company’s stock, valued at $984,113.17. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Thomas E. Jorden sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $101.67, for a total transaction of $254,175.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,299 shares of company stock worth $2,204,271. Insiders own 1.70% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Toronto Dominion Bank boosted its position in shares of Cimarex Energy by 25.5% during the second quarter. Toronto Dominion Bank now owns 32,218 shares of the oil and gas producer’s stock worth $3,028,000 after purchasing an additional 6,551 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Cimarex Energy by 4.2% during the second quarter. Public Employees Retirement System of Ohio now owns 54,070 shares of the oil and gas producer’s stock worth $5,083,000 after purchasing an additional 2,202 shares in the last quarter. Colony Group LLC boosted its position in shares of Cimarex Energy by 7.1% during the second quarter. Colony Group LLC now owns 15,977 shares of the oil and gas producer’s stock worth $1,502,000 after purchasing an additional 1,058 shares in the last quarter. Verition Fund Management LLC boosted its position in shares of Cimarex Energy by 4.6% during the second quarter. Verition Fund Management LLC now owns 7,949 shares of the oil and gas producer’s stock worth $747,000 after purchasing an additional 349 shares in the last quarter. Finally, Kingfisher Capital LLC boosted its position in shares of Cimarex Energy by 3.1% during the second quarter. Kingfisher Capital LLC now owns 11,778 shares of the oil and gas producer’s stock worth $1,107,000 after purchasing an additional 350 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors.
Cimarex Energy Company Profile
Cimarex Energy Co is an independent oil and gas exploration and production company. The Company operates in exploration and production (E&P) segment. Its operations are located in Oklahoma, Texas and New Mexico. Its E&P activities take place primarily in two areas: the Permian Basin and the Mid-Continent region.
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