Cimarex Energy Co (XEC) to Post FY2017 Earnings of $4.32 Per Share, SunTrust Banks Forecasts
Cimarex Energy Co (NYSE:XEC) – Investment analysts at SunTrust Banks lifted their FY2017 earnings per share (EPS) estimates for shares of Cimarex Energy in a report released on Thursday. SunTrust Banks analyst N. Dingmann now anticipates that the oil and gas producer will post earnings per share of $4.32 for the year, up from their previous estimate of $4.19. SunTrust Banks has a “Hold” rating and a $127.00 price objective on the stock. SunTrust Banks also issued estimates for Cimarex Energy’s Q4 2017 earnings at $1.13 EPS, FY2019 earnings at $7.63 EPS and FY2020 earnings at $9.99 EPS.
Other research analysts have also recently issued research reports about the company. KeyCorp reissued a “buy” rating on shares of Cimarex Energy in a research note on Wednesday, November 8th. Capital One Financial Corporation reaffirmed an “overweight” rating on shares of Cimarex Energy in a research report on Wednesday, November 8th. Imperial Capital increased 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. Williams Capital restated a “buy” rating and set a $136.00 target price on shares of Cimarex Energy in a research report on Wednesday, August 9th. Finally, Jefferies Group LLC set a $98.00 target price on Cimarex Energy and gave the company a “hold” rating in a research report on Tuesday, August 29th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $135.81.
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Cimarex Energy (NYSE:XEC) opened at $125.05 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.51 and a quick ratio of 1.68. The company has a market capitalization of $11,912.39, a PE ratio of 32.91 and a beta of 1.35. Cimarex Energy has a 52-week low of $89.49 and a 52-week high of $146.96.
Cimarex Energy (NYSE:XEC) last released 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. Cimarex Energy had a return on equity of 16.11% and a net margin of 20.45%. The company had revenue of $463.68 million for the quarter, compared to the consensus estimate of $451.53 million. During the same period in the previous year, the business earned $0.53 earnings per share. Cimarex Energy’s quarterly revenue was up 38.1% compared to the same quarter last year.
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 dividend on an annualized basis and a yield of 0.26%. Cimarex Energy’s payout ratio is 8.51%.
In other news, Director L Paul Teague sold 3,248 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $125.03, for a total value of $406,097.44. Following the completion of the sale, the director now owns 41,146 shares of the company’s stock, valued at approximately $5,144,484.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Thomas E. Jorden sold 2,500 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $125.10, for a total value of $312,750.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,107 shares of company stock valued at $2,918,092. 1.70% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the business. Turner Investments LLC acquired a new stake in Cimarex Energy during the 2nd quarter valued at $100,000. Advisor Group Inc. lifted its holdings in shares of Cimarex Energy by 5.3% during the second 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 in the last quarter. Global X Management Co. LLC lifted its holdings in shares of Cimarex Energy by 14.7% during the second 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 in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Cimarex Energy by 0.7% during the second 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 in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Cimarex Energy during the third quarter worth $206,000. 90.85% of the stock is owned by institutional investors and hedge funds.
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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