Jefferies Group Weighs in on Cimarex Energy Co’s Q2 2018 Earnings (XEC)
Cimarex Energy Co (NYSE:XEC) – Research analysts at Jefferies Group raised their Q2 2018 EPS estimates for Cimarex Energy in a report released on Monday. Jefferies Group analyst M. Hsu now expects that the oil and gas producer will post earnings per share of $1.19 for the quarter, up from their previous forecast of $1.18. Jefferies Group has a “Hold” rating and a $98.00 price target on the stock. Jefferies Group also issued estimates for Cimarex Energy’s Q3 2018 earnings at $1.37 EPS and FY2018 earnings at $5.15 EPS.
Several other analysts also recently weighed in on the stock. Citigroup Inc. dropped their target price on shares of Cimarex Energy from $150.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, July 13th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Cimarex Energy in a report on Wednesday, June 28th. Wolfe Research downgraded shares of Cimarex Energy from an “outperform” rating to a “market perform” rating in a report on Thursday, June 15th. Piper Jaffray Companies dropped their price objective on shares of Cimarex Energy from $141.00 to $116.00 and set a “neutral” rating on the stock in a report on Monday, September 18th. Finally, BidaskClub raised shares of Cimarex Energy from a “strong sell” rating to a “sell” rating in a report on Thursday, August 24th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $134.86.
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Shares of Cimarex Energy (NYSE:XEC) traded up 0.96% during midday trading on Thursday, reaching $115.66. 148,282 shares of the company traded hands. Cimarex Energy has a 1-year low of $89.49 and a 1-year high of $146.96. The company has a 50 day moving average price of $107.96 and a 200 day moving average price of $106.17. The company has a market capitalization of $10.80 billion, a PE ratio of 41.43 and a beta of 1.35.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.11. Cimarex Energy had a net margin of 15.64% and a return on equity of 13.29%. The firm had revenue of $456.50 million for the quarter, compared to analysts’ expectations of $441.52 million. During the same quarter in the prior year, the company posted $0.07 earnings per share. The business’s revenue for the quarter was up 52.7% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend is Tuesday, November 14th. Cimarex Energy’s dividend payout ratio is currently 12.03%.
In related news, CEO Thomas E. Jorden sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $101.67, for a total value of $254,175.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Harold R. Logan, Jr. sold 913 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $105.83, for a total transaction of $96,622.79. Following the completion of the sale, the director now directly owns 9,299 shares of the company’s stock, valued at approximately $984,113.17. The disclosure for this sale can be found here. Insiders sold 21,299 shares of company stock valued at $2,204,271 in the last three months. 1.70% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue grew its holdings in shares of Cimarex Energy by 0.7% in the second quarter. State of Alaska Department of Revenue now owns 1,427 shares of the oil and gas producer’s stock valued at $134,000 after purchasing an additional 10 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Cimarex Energy by 0.4% in the second quarter. Fisher Asset Management LLC now owns 3,013 shares of the oil and gas producer’s stock valued at $283,000 after purchasing an additional 13 shares during the period. ING Groep NV grew its holdings in shares of Cimarex Energy by 0.3% in the second quarter. ING Groep NV now owns 4,878 shares of the oil and gas producer’s stock valued at $459,000 after purchasing an additional 17 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Cimarex Energy by 3.2% in the first quarter. Pacer Advisors Inc. now owns 1,787 shares of the oil and gas producer’s stock valued at $214,000 after purchasing an additional 55 shares during the period. Finally, Advisor Group Inc. grew its holdings in shares of Cimarex Energy by 5.3% in the second quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock valued at $113,000 after purchasing an additional 60 shares during the period. 90.25% of the stock is owned by hedge funds and other 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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