SunTrust Banks Equities Analysts Increase Earnings Estimates for Cimarex Energy Co (XEC)
Cimarex Energy Co (NYSE:XEC) – Stock analysts at SunTrust Banks lifted their FY2018 earnings per share (EPS) estimates for shares of Cimarex Energy in a research note issued to investors on Tuesday. SunTrust Banks analyst N. Dingmann now expects that the oil and gas producer will post earnings per share of $5.91 for the year, up from their prior estimate of $5.15. SunTrust Banks has a “Hold” rating and a $127.00 price objective on the stock. SunTrust Banks also issued estimates for Cimarex Energy’s FY2020 earnings at $9.71 EPS.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 EPS for the quarter, topping 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 business had revenue of $463.68 million during the quarter, compared to analysts’ expectations of $451.53 million. During the same quarter last year, the company posted $0.53 earnings per share. Cimarex Energy’s quarterly revenue was up 38.1% on a year-over-year basis.
A number of other brokerages have also recently issued reports on XEC. Stifel Nicolaus set a $168.00 price objective on Cimarex Energy and gave the stock a “buy” rating in a report on Thursday, October 5th. Credit Suisse Group assumed coverage on shares of Cimarex Energy in a research report on Monday, December 11th. They issued an “outperform” rating and a $140.00 price target for the company. Morgan Stanley lifted their price target on shares of Cimarex Energy from $138.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. Jefferies Group set a $117.00 price target on shares of Cimarex Energy and gave the company a “hold” rating in a research report on Wednesday, December 20th. Finally, UBS Group downgraded shares of Cimarex Energy from a “positive” rating to a “neutral” rating in a research report on Monday, November 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. Cimarex Energy has a consensus rating of “Buy” and an average target price of $136.71.
Shares of Cimarex Energy (NYSE XEC) traded up $2.46 during trading hours on Thursday, hitting $128.66. The stock had a trading volume of 864,800 shares, compared to its average volume of 918,067. Cimarex Energy has a 12 month low of $89.49 and a 12 month high of $144.30. The company has a market capitalization of $12,260.00, a PE ratio of 32.17 and a beta of 1.33. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.62.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be issued a dividend of $0.08 per share. The ex-dividend date is Wednesday, February 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.25%. Cimarex Energy’s dividend payout ratio (DPR) is presently 8.00%.
In related news, SVP Francis Brian Barron sold 3,000 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $112.59, for a total value of $337,770.00. Following the sale, the senior vice president now owns 87,723 shares of the company’s stock, valued at $9,876,732.57. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Stephen P. Bell sold 3,696 shares of the business’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $125.11, for a total transaction of $462,406.56. The disclosure for this sale can be found here. Insiders have sold 32,264 shares of company stock valued at $3,804,134 over the last quarter. Company insiders own 1.70% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Trust Co. of Vermont boosted its position in Cimarex Energy by 6.9% during the third quarter. Trust Co. of Vermont now owns 26,240 shares of the oil and gas producer’s stock valued at $2,983,000 after acquiring an additional 1,692 shares during the last quarter. Elliott Management Corp bought a new position in shares of Cimarex Energy during the 2nd quarter worth about $288,000. Commerce Bank boosted its position in shares of Cimarex Energy by 28.7% during the 3rd quarter. Commerce Bank now owns 4,482 shares of the oil and gas producer’s stock worth $510,000 after purchasing an additional 1,000 shares in the last quarter. South Dakota Investment Council bought a new position in shares of Cimarex Energy during the 2nd quarter worth about $11,439,000. Finally, Calamos Advisors LLC boosted its position in shares of Cimarex Energy by 37.0% during the 2nd quarter. Calamos Advisors LLC now owns 25,006 shares of the oil and gas producer’s stock worth $2,351,000 after purchasing an additional 6,757 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.
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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