Analysts Offer Predictions for Cimarex Energy Co’s FY2017 Earnings (XEC)
Cimarex Energy Co (NYSE:XEC) – Stock analysts at Jefferies Group lifted their FY2017 EPS estimates for Cimarex Energy in a report released on Thursday. Jefferies Group analyst M. Hsu now forecasts that the oil and gas producer will post earnings per share of $4.28 for the year, up from their previous estimate of $3.99. Jefferies Group has a “Hold” rating and a $115.00 price objective 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 posted its earnings results 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 return on equity of 16.11% and a net margin of 20.45%. The firm had revenue of $463.68 million during the quarter, compared to analysts’ expectations of $451.53 million. During the same period in the previous year, the firm earned $0.53 earnings per share. The company’s revenue was up 38.1% on a year-over-year basis.
A number of other research analysts have also recently issued reports on XEC. BidaskClub raised Cimarex Energy from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Williams Capital reissued a “buy” rating and issued a $136.00 target price on shares of Cimarex Energy in a research note on Wednesday, August 9th. Morgan Stanley boosted their target price on Cimarex Energy from $135.00 to $138.00 and gave the company an “overweight” rating in a research note on Thursday, August 10th. Barclays PLC boosted their price target on Cimarex Energy from $112.00 to $117.00 and gave the company an “overweight” rating in a report on Tuesday, August 15th. Finally, Stifel Nicolaus set a $169.00 price target on Cimarex Energy and gave the company a “buy” rating in a report on Wednesday, August 16th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $137.05.
Cimarex Energy (XEC) opened at $115.28 on Monday. Cimarex Energy has a 52 week low of $89.49 and a 52 week 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. The stock has a market capitalization of $10,920.00, a PE ratio of 30.68 and a beta of 1.35.
A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Cimarex Energy by 0.7% during the second quarter. Vanguard Group Inc. now owns 9,899,309 shares of the oil and gas producer’s stock worth $930,634,000 after buying an additional 64,420 shares in the last quarter. BlackRock Inc. grew its position in Cimarex Energy by 5.2% during the second quarter. BlackRock Inc. now owns 7,512,811 shares of the oil and gas producer’s stock worth $706,278,000 after buying an additional 371,390 shares in the last quarter. State Street Corp grew its position in Cimarex Energy by 3.0% during the second quarter. State Street Corp now owns 5,458,745 shares of the oil and gas producer’s stock worth $513,162,000 after buying an additional 157,612 shares in the last quarter. FMR LLC grew its position in Cimarex Energy by 1.4% during the second quarter. FMR LLC now owns 4,224,735 shares of the oil and gas producer’s stock worth $397,166,000 after buying an additional 59,537 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. grew its position in Cimarex Energy by 8.2% during the second 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 buying an additional 307,581 shares in the last quarter. 93.44% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Harold R. Logan, Jr. sold 913 shares of the stock in a transaction that occurred 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 sale, the director now owns 9,299 shares of the company’s stock, valued at $984,113.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Stephen P. Bell sold 3,696 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $125.11, for a total value of $462,406.56. The disclosure for this sale can be found here. Insiders sold 28,698 shares of company stock worth $3,267,800 in the last ninety days. 1.70% of the stock is owned by company insiders.
The company 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 $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.28%. The ex-dividend date is Tuesday, November 14th. Cimarex Energy’s payout ratio 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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