FY2017 EPS Estimates for Cimarex Energy Co Lifted by Jefferies Group (XEC)
Cimarex Energy Co (NYSE:XEC) – Jefferies Group increased their FY2017 EPS estimates for shares of Cimarex Energy in a report issued on Thursday. Jefferies Group analyst M. Hsu now anticipates that the oil and gas producer will earn $4.28 per share for the year, up from their previous forecast of $3.99. Jefferies Group currently has a “Hold” rating and a $115.00 target price on the stock. Jefferies Group also issued estimates for Cimarex Energy’s Q4 2017 earnings at $1.09 EPS, Q1 2018 earnings at $1.31 EPS, Q2 2018 earnings at $1.41 EPS, Q4 2018 earnings at $1.70 EPS, FY2018 earnings at $6.02 EPS, Q1 2019 earnings at $1.86 EPS, Q2 2019 earnings at $1.95 EPS, Q3 2019 earnings at $2.07 EPS and FY2019 earnings at $8.06 EPS.
Cimarex Energy (NYSE:XEC) last issued its earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.12. The firm had revenue of $463.68 million for the quarter, compared to analysts’ expectations of $451.53 million. Cimarex Energy had a net margin of 20.45% and a return on equity of 16.11%. The firm’s revenue was up 38.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.53 earnings per share.
Several other brokerages have also recently weighed in on XEC. Stifel Nicolaus set a $168.00 target price on shares of Cimarex Energy and gave the company a “buy” rating in a report on Thursday, October 5th. Barclays PLC raised their price objective on shares of Cimarex Energy from $112.00 to $117.00 and gave the stock an “overweight” rating in a report on Tuesday, August 15th. BidaskClub raised shares of Cimarex Energy from a “strong sell” rating to a “sell” rating in a report on Thursday, August 24th. Morgan Stanley raised their price objective on shares of Cimarex Energy from $138.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. Finally, UBS AG cut shares of Cimarex Energy from a “positive” rating to a “neutral” rating in a report on Monday, November 13th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $137.05.
Shares of Cimarex Energy (XEC) opened at $114.96 on Monday. The firm has a market cap of $10,920.00, a P/E ratio of 30.68 and a beta of 1.35. Cimarex Energy has a 1-year low of $89.49 and a 1-year high of $146.96. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 0.62.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Cimarex Energy by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 9,899,309 shares of the oil and gas producer’s stock worth $930,634,000 after purchasing an additional 64,420 shares in the last quarter. BlackRock Inc. boosted its position in shares of Cimarex Energy by 5.2% during the 2nd quarter. BlackRock Inc. now owns 7,512,811 shares of the oil and gas producer’s stock worth $706,278,000 after purchasing an additional 371,390 shares in the last quarter. State Street Corp boosted its position in shares of Cimarex Energy by 3.0% during the 2nd quarter. State Street Corp now owns 5,458,745 shares of the oil and gas producer’s stock worth $513,162,000 after purchasing an additional 157,612 shares in the last quarter. FMR LLC boosted its position in shares of Cimarex Energy by 1.4% during the 2nd quarter. FMR LLC now owns 4,224,735 shares of the oil and gas producer’s stock worth $397,166,000 after purchasing an additional 59,537 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its position in shares of Cimarex Energy by 8.2% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 4,063,310 shares of the oil and gas producer’s stock worth $381,992,000 after purchasing an additional 307,581 shares in the last quarter. Institutional investors own 93.44% of the company’s stock.
In related news, VP Joseph R. Albi sold 4,000 shares of Cimarex Energy stock in a transaction on Friday, September 15th. The shares were sold at an average price of $106.13, for a total value of $424,520.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Stephen P. Bell sold 2,500 shares of Cimarex Energy stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $102.54, for a total transaction of $256,350.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,698 shares of company stock worth $3,267,800. 1.70% of the stock is currently owned by insiders.
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 given 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 dividend payout ratio (DPR) is 8.00%.
About Cimarex Energy
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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