Cimarex Energy (NYSE:XEC) – Research analysts at Seaport Global Securities reduced their Q2 2018 earnings per share estimates for Cimarex Energy in a report released on Tuesday, April 3rd. Seaport Global Securities analyst M. Kelly now expects that the oil and gas producer will post earnings of $1.73 per share for the quarter, down from their previous forecast of $1.77. Seaport Global Securities has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Cimarex Energy’s Q4 2018 earnings at $2.16 EPS, Q2 2019 earnings at $2.05 EPS, Q3 2019 earnings at $2.14 EPS, Q4 2019 earnings at $2.31 EPS and FY2019 earnings at $8.65 EPS.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings results on Wednesday, February 14th. The oil and gas producer reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.07. Cimarex Energy had a return on equity of 18.73% and a net margin of 25.77%. The company had revenue of $550.90 million during the quarter, compared to analysts’ expectations of $537.74 million. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The business’s quarterly revenue was up 44.1% compared to the same quarter last year.
Other analysts have also recently issued research reports about the company. Credit Suisse Group reaffirmed a “buy” rating and issued a $129.00 price target (down previously from $147.00) on shares of Cimarex Energy in a research report on Monday, March 5th. SunTrust Banks raised Cimarex Energy from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a research report on Tuesday, February 6th. Deutsche Bank assumed coverage on Cimarex Energy in a research report on Thursday, February 1st. They issued a “buy” rating and a $164.00 price target for the company. Piper Jaffray set a $131.00 price target on Cimarex Energy and gave the stock a “hold” rating in a research report on Wednesday, March 14th. Finally, Stephens reaffirmed a “hold” rating and issued a $113.00 price target on shares of Cimarex Energy in a research report on Thursday, March 15th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $136.32.
Shares of NYSE:XEC opened at $93.95 on Thursday. Cimarex Energy has a fifty-two week low of $87.98 and a fifty-two week high of $130.16. The stock has a market capitalization of $8,725.91, a price-to-earnings ratio of 20.20 and a beta of 1.19. The company has a quick ratio of 1.30, a current ratio of 1.38 and a debt-to-equity ratio of 0.58.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Thursday, March 15th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.68%. This is a positive change from Cimarex Energy’s previous quarterly dividend of $0.08. The ex-dividend date is Monday, May 14th. Cimarex Energy’s payout ratio is currently 6.88%.
In related news, Director Harold R. Logan, Jr. sold 1,900 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $97.82, for a total transaction of $185,858.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.70% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of XEC. Assetmark Inc. increased its stake in Cimarex Energy by 1,015.9% during the fourth quarter. Assetmark Inc. now owns 982 shares of the oil and gas producer’s stock valued at $120,000 after acquiring an additional 894 shares during the period. LMR Partners LLP bought a new position in Cimarex Energy during the fourth quarter valued at about $200,000. Eagle Ridge Investment Management bought a new position in Cimarex Energy during the fourth quarter valued at about $204,000. Capital Advisors Inc. OK bought a new position in Cimarex Energy during the fourth quarter valued at about $205,000. Finally, Signition LP bought a new position in Cimarex Energy during the fourth quarter valued at about $206,000. Hedge funds and other institutional investors own 92.33% of the company’s stock.
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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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