Capital One Financial Comments on Cimarex Energy Co’s FY2018 Earnings (XEC)
Cimarex Energy Co (NYSE:XEC) – Analysts at Capital One Financial reduced their FY2018 earnings estimates for Cimarex Energy in a research note issued to investors on Tuesday, November 20th. Capital One Financial analyst R. Tullis now forecasts that the oil and gas producer will post earnings of $7.21 per share for the year, down from their previous estimate of $7.32. Capital One Financial also issued estimates for Cimarex Energy’s Q4 2018 earnings at $1.81 EPS, Q2 2019 earnings at $2.19 EPS, Q3 2019 earnings at $2.42 EPS, Q4 2019 earnings at $2.70 EPS and FY2019 earnings at $9.03 EPS.
Several other analysts have also recently weighed in on XEC. Credit Suisse Group cut Cimarex Energy from an “outperform” rating to a “neutral” rating in a report on Thursday, August 9th. Williams Capital reiterated a “buy” rating and issued a $134.00 price objective on shares of Cimarex Energy in a research report on Wednesday, August 8th. Imperial Capital reiterated an “in-line” rating on shares of Cimarex Energy in a research report on Tuesday. Jefferies Financial Group set a $117.00 price objective on Cimarex Energy and gave the company a “buy” rating in a research report on Tuesday. Finally, Piper Jaffray Companies assumed coverage on Cimarex Energy in a research note on Friday, September 28th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued 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 $130.25.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings data on Tuesday, November 6th. The oil and gas producer reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.47. The firm had revenue of $591.50 million for the quarter, compared to analyst estimates of $561.67 million. Cimarex Energy had a net margin of 28.70% and a return on equity of 23.33%. The company’s revenue for the quarter was up 27.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.09 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Wednesday, November 14th. This is a boost from Cimarex Energy’s previous quarterly dividend of $0.16. Cimarex Energy’s dividend payout ratio is 15.48%.
In other Cimarex Energy news, Director Lisa A. Stewart purchased 320 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The shares were acquired at an average price of $84.05 per share, for a total transaction of $26,896.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 1.70% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mount Yale Investment Advisors LLC acquired a new position in Cimarex Energy in the 2nd quarter valued at $115,000. JNBA Financial Advisors acquired a new position in Cimarex Energy in the 3rd quarter valued at $143,000. Point72 Hong Kong Ltd acquired a new position in Cimarex Energy in the 2nd quarter valued at $161,000. Eagle Boston Investment Management Inc. acquired a new position in Cimarex Energy in the 2nd quarter valued at $204,000. Finally, Glenmede Trust Co. NA grew its holdings in Cimarex Energy by 2,358.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 2,458 shares of the oil and gas producer’s stock valued at $228,000 after buying an additional 2,358 shares in the last quarter. Institutional investors and hedge funds own 98.47% of the company’s stock.
About Cimarex Energy
Cimarex Energy Co operates as an independent oil and gas exploration and production company primarily in Oklahoma, Texas, and New Mexico. As of December 31, 2017, it had a total proved oil and gas reserves of 3.35 trillion cubic feet equivalent (Tcfe) consisting of 1.61 trillion cubic feet of natural gas, 0.82 Tcfe of oil, and 0.92 Tcfe of natural gas liquids primarily located in the Mid-Continent and Permian Basin regions.
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