Cimarex Energy Co (NYSE:XEC) – Investment analysts at Capital One Financial Corporation boosted their FY2017 earnings per share estimates for Cimarex Energy in a research report issued to clients and investors on Monday. Capital One Financial Corporation analyst R. Tullis now forecasts that the oil and gas producer will post earnings per share of $4.03 for the year, up from their prior forecast of $3.93.
Several other equities research analysts have also recently weighed in on the company. Jefferies Group LLC reaffirmed a “hold” rating and issued a $119.00 price target on shares of Cimarex Energy in a research note on Thursday, July 6th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Cimarex Energy in a research note on Wednesday, June 28th. Citigroup Inc. reduced their price target on Cimarex Energy from $150.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, July 13th. Piper Jaffray Companies reduced their price target on Cimarex Energy from $141.00 to $116.00 and set a “neutral” rating on the stock in a research note on Monday, September 18th. Finally, BidaskClub raised Cimarex Energy from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 24th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $136.48.
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Cimarex Energy (NYSE XEC) traded down 0.03% during mid-day trading on Tuesday, reaching $114.99. 97,437 shares of the company traded hands. Cimarex Energy has a 12-month low of $89.49 and a 12-month high of $146.96. The company’s 50-day moving average is $109.83 and its 200-day moving average is $105.95. The stock has a market capitalization of $10.74 billion, a price-to-earnings ratio of 41.19 and a beta of 1.35.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.11. Cimarex Energy had a net margin of 15.64% and a return on equity of 13.29%. The business had revenue of $456.50 million during the quarter, compared to the consensus estimate of $441.52 million. During the same quarter last year, the firm posted $0.07 EPS. Cimarex Energy’s revenue was up 52.7% compared to the same quarter last year.
A number of hedge funds have recently bought and sold shares of XEC. PNC Financial Services Group Inc. lifted its holdings in Cimarex Energy by 6.9% in the first quarter. PNC Financial Services Group Inc. now owns 12,469 shares of the oil and gas producer’s stock valued at $1,490,000 after acquiring an additional 802 shares during the period. Global X Management Co. LLC lifted its holdings in Cimarex Energy by 14.1% in the first quarter. Global X Management Co. LLC now owns 1,103 shares of the oil and gas producer’s stock valued at $132,000 after acquiring an additional 136 shares during the period. MARSHALL WACE ASIA Ltd bought a new position in Cimarex Energy in the first quarter valued at about $2,458,000. Cambridge Investment Research Advisors Inc. bought a new position in Cimarex Energy in the first quarter valued at about $230,000. Finally, Morgan Stanley lifted its holdings in Cimarex Energy by 154.8% in the first quarter. Morgan Stanley now owns 382,356 shares of the oil and gas producer’s stock valued at $45,688,000 after acquiring an additional 232,290 shares during the period. 90.06% of the stock is currently owned by institutional investors.
In other Cimarex Energy news, VP Stephen P. Bell sold 2,500 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $102.54, for a total value of $256,350.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Joseph R. Albi sold 2,000 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $106.16, for a total value of $212,320.00. The disclosure for this sale can be found here. In the last three months, insiders sold 21,299 shares of company stock worth $2,204,271. 1.70% of the stock is owned by corporate insiders.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend is Tuesday, November 14th. Cimarex Energy’s dividend payout ratio is 12.03%.
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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