Cimarex Energy Co (XEC) Forecasted to Earn FY2017 Earnings of $4.19 Per Share
Cimarex Energy Co (NYSE:XEC) – Equities research analysts at Capital One Financial Corporation upped their FY2017 earnings per share (EPS) estimates for Cimarex Energy in a report released on Wednesday. Capital One Financial Corporation analyst R. Tullis now forecasts that the oil and gas producer will post earnings of $4.19 per share for the year, up from their prior forecast of $4.02. Capital One Financial Corporation has a “Overweight” rating on the stock.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.12. The firm had revenue of $463.68 million for the quarter, compared to the consensus estimate of $451.53 million. Cimarex Energy had a return on equity of 16.11% and a net margin of 20.45%. The business’s revenue was up 38.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 earnings per share. COPYRIGHT VIOLATION NOTICE: “Cimarex Energy Co (XEC) Forecasted to Earn FY2017 Earnings of $4.19 Per Share” was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this story can be accessed at https://www.thecerbatgem.com/2017/11/14/cimarex-energy-co-xec-forecasted-to-earn-fy2017-earnings-of-4-19-per-share.html.
A number of other equities analysts also recently weighed in on XEC. KeyCorp reissued a “buy” rating on shares of Cimarex Energy in a research report on Wednesday, November 8th. UBS AG downgraded Cimarex Energy from a “positive” rating to a “neutral” rating in a research report on Monday. Susquehanna Bancshares Inc downgraded Cimarex Energy from a “positive” rating to a “neutral” rating in a research report on Monday. Imperial Capital boosted their price target on Cimarex Energy from $135.00 to $141.00 and gave the stock an “outperform” rating in a research report on Thursday, November 9th. Finally, SunTrust Banks, Inc. boosted their price target on Cimarex Energy to $127.00 and gave the stock a “hold” rating in a research report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $135.81.
Cimarex Energy (XEC) opened at $121.87 on Monday. The firm has a market capitalization of $11,912.38, a P/E ratio of 32.91 and a beta of 1.35. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.62. Cimarex Energy has a 12-month low of $89.49 and a 12-month high of $146.96.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be given 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 0.26%. Cimarex Energy’s dividend payout ratio is currently 8.51%.
In other Cimarex Energy news, VP Joseph R. Albi sold 2,750 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $99.02, for a total transaction of $272,305.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas E. Jorden sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $125.10, for a total transaction of $312,750.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,107 shares of company stock valued at $2,918,092. Company insiders own 1.70% of the company’s stock.
Several large investors have recently made changes to their positions in XEC. Principal Financial Group Inc. increased its holdings in shares of Cimarex Energy by 968.7% during the second quarter. Principal Financial Group Inc. now owns 1,544,775 shares of the oil and gas producer’s stock worth $145,224,000 after buying an additional 1,400,223 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Cimarex Energy by 172.6% during the third quarter. Wells Fargo & Company MN now owns 1,352,468 shares of the oil and gas producer’s stock worth $153,734,000 after buying an additional 856,274 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Cimarex Energy by 7,007.8% during the second quarter. Janus Henderson Group PLC now owns 834,313 shares of the oil and gas producer’s stock worth $78,434,000 after buying an additional 822,575 shares in the last quarter. APG Asset Management N.V. increased its holdings in shares of Cimarex Energy by 274.1% during the third quarter. APG Asset Management N.V. now owns 743,117 shares of the oil and gas producer’s stock worth $84,470,000 after buying an additional 544,465 shares in the last quarter. Finally, Caymus Capital Partners L.P. acquired a new position in shares of Cimarex Energy during the third quarter worth $61,666,000. Institutional investors own 91.05% 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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