Q3 2018 EPS Estimates for Cimarex Energy Co (XEC) Lifted by Jefferies Group
Cimarex Energy Co (NYSE:XEC) – Jefferies Group boosted their Q3 2018 earnings per share estimates for Cimarex Energy in a research note issued on Thursday. Jefferies Group analyst M. Hsu now expects that the oil and gas producer will post earnings of $1.60 per share for the quarter, up from their prior forecast of $1.37. Jefferies Group currently has a “Hold” rating and a $115.00 price target on the stock.
Other research analysts also recently issued reports about the company. BidaskClub downgraded Cimarex Energy from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Barclays PLC increased their target price on Cimarex Energy from $112.00 to $117.00 and gave the company an “overweight” rating in a research report on Tuesday, August 15th. Piper Jaffray Companies lowered their target price on Cimarex Energy from $141.00 to $116.00 and set a “neutral” rating for the company in a research report on Monday, September 18th. Stifel Nicolaus set a $169.00 target price on Cimarex Energy and gave the company a “buy” rating in a research report on Wednesday, August 16th. Finally, KeyCorp reiterated a “buy” rating and set a $130.00 target price on shares of Cimarex Energy in a research report on Friday, October 20th. 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 company’s stock. Cimarex Energy presently has an average rating of “Buy” and an average target price of $136.62.
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Shares of Cimarex Energy (NYSE:XEC) traded up $0.96 on Friday, reaching $116.57. 657,512 shares of the company’s stock were exchanged, compared to its average volume of 1,066,262. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.42 and a current ratio of 1.51. Cimarex Energy has a twelve month low of $89.49 and a twelve month high of $146.96. The stock has a market cap of $11,010.00, a price-to-earnings ratio of 30.93 and a beta of 1.35.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings data on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.12. Cimarex Energy had a net margin of 20.45% and a return on equity of 16.11%. The business had revenue of $463.68 million during the quarter, compared to analyst estimates of $451.53 million. During the same period last year, the firm posted $0.53 EPS. The company’s revenue was up 38.1% on a year-over-year basis.
Several institutional investors have recently made changes to their positions in XEC. Renaissance Technologies LLC increased its stake in shares of Cimarex Energy by 16.6% during the first quarter. Renaissance Technologies LLC now owns 61,698 shares of the oil and gas producer’s stock valued at $7,372,000 after buying an additional 8,800 shares during the period. Xact Kapitalforvaltning AB increased its stake in shares of Cimarex Energy by 17.0% during the second quarter. Xact Kapitalforvaltning AB now owns 8,339 shares of the oil and gas producer’s stock valued at $784,000 after buying an additional 1,213 shares during the period. Capstone Asset Management Co. increased its stake in shares of Cimarex Energy by 7.5% during the second quarter. Capstone Asset Management Co. now owns 6,464 shares of the oil and gas producer’s stock valued at $608,000 after buying an additional 450 shares during the period. Bank of Montreal Can increased its stake in shares of Cimarex Energy by 192.6% during the second quarter. Bank of Montreal Can now owns 151,333 shares of the oil and gas producer’s stock valued at $14,227,000 after buying an additional 99,612 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of Cimarex Energy by 0.4% during 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 buying an additional 13 shares during the period. Hedge funds and other institutional investors own 91.05% of the company’s stock.
In other news, Director Harold R. Logan, Jr. sold 913 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $105.83, for a total transaction of $96,622.79. Following the transaction, the director now owns 9,299 shares in the company, valued at $984,113.17. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Krista L. Johnson sold 5,341 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $116.46, for a total value of $622,012.86. Following the transaction, the vice president now owns 42,938 shares in the company, valued at approximately $5,000,559.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,448 shares of company stock valued at $3,540,105. Corporate insiders own 1.70% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders 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 dividend yield of 0.27%. Cimarex Energy’s dividend payout ratio (DPR) is 8.00%.
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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