Q3 2017 EPS Estimates for Cimarex Energy Co Boosted by Analyst (XEC)
Cimarex Energy Co (NYSE:XEC) – Capital One Financial Corporation boosted their Q3 2017 earnings per share estimates for Cimarex Energy in a research note issued on Monday. Capital One Financial Corporation analyst R. Tullis now expects that the oil and gas producer will earn $0.93 per share for the quarter, up from their previous estimate of $0.88. Capital One Financial Corporation also issued estimates for Cimarex Energy’s Q4 2017 earnings at $0.99 EPS and FY2018 earnings at $4.38 EPS.
Cimarex Energy (NYSE:XEC) last announced its earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.11. The company 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 firm’s revenue for the quarter was up 52.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 earnings per share.
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XEC has been the subject of a number of other research reports. Stifel Nicolaus set a $168.00 price objective on Cimarex Energy and gave the company a “buy” rating in a report on Thursday, October 5th. Citigroup Inc. restated a “buy” rating and set a $120.00 price objective on shares of Cimarex Energy in a report on Friday, October 13th. Cowen and Company set a $135.00 price objective on Cimarex Energy and gave the company a “buy” rating in a report on Friday, August 25th. Imperial Capital started coverage on Cimarex Energy in a report on Tuesday, September 19th. They set an “outperform” rating and a $135.00 price objective for the company. Finally, Williams Capital boosted their price objective on Cimarex Energy from $132.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Cimarex Energy has a consensus rating of “Buy” and an average target price of $136.18.
Cimarex Energy (NYSE XEC) opened at 115.32 on Wednesday. The company has a market cap of $10.77 billion, a P/E ratio of 41.30 and a beta of 1.35. Cimarex Energy has a one year low of $89.49 and a one year high of $146.96. The company’s 50 day moving average price is $110.31 and its 200-day moving average price is $106.01.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.32 annualized dividend and a yield of 0.28%. Cimarex Energy’s dividend payout ratio (DPR) is 12.03%.
In related news, CEO Thomas E. Jorden sold 2,500 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $101.67, for a total transaction of $254,175.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Joseph R. Albi sold 2,750 shares of the business’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $99.02, for a total value of $272,305.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,299 shares of company stock worth $2,204,271. 1.70% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Turner Investments LLC purchased a new position in Cimarex Energy during the 2nd quarter worth $100,000. Advisor Group Inc. grew its stake in Cimarex Energy by 5.3% during the 2nd quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock worth $113,000 after buying an additional 60 shares during the last quarter. Global X Management Co. LLC grew its stake in Cimarex Energy by 14.7% during the 2nd quarter. Global X Management Co. LLC now owns 1,265 shares of the oil and gas producer’s stock worth $119,000 after buying an additional 162 shares during the last quarter. State of Alaska Department of Revenue grew its stake in Cimarex Energy by 0.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 1,427 shares of the oil and gas producer’s stock worth $134,000 after buying an additional 10 shares during the last quarter. Finally, Pacer Advisors Inc. grew its stake in Cimarex Energy by 8.3% during the 2nd quarter. Pacer Advisors Inc. now owns 1,935 shares of the oil and gas producer’s stock worth $182,000 after buying an additional 148 shares during the last quarter. Hedge funds and other institutional investors own 90.06% of the company’s stock.
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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