Cimarex Energy (NYSE:XEC) – Seaport Global Securities decreased their Q2 2018 earnings estimates for shares of Cimarex Energy in a report issued on Tuesday, April 24th. Seaport Global Securities analyst M. Kelly now forecasts that the oil and gas producer will earn $1.69 per share for the quarter, down from their prior estimate of $1.73. Seaport Global Securities also issued estimates for Cimarex Energy’s Q2 2019 earnings at $1.90 EPS and FY2019 earnings at $8.31 EPS.
Several other analysts have also recently issued reports on the stock. Piper Jaffray reaffirmed a “hold” rating and set a $138.00 price objective on shares of Cimarex Energy in a research note on Tuesday, January 9th. Stifel Nicolaus dropped their price objective on shares of Cimarex Energy from $188.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Williams Capital set a $154.00 price objective on shares of Cimarex Energy and gave the company a “buy” rating in a research note on Thursday, February 15th. Morgan Stanley dropped their price objective on shares of Cimarex Energy from $168.00 to $165.00 and set an “overweight” rating for the company in a research note on Wednesday, February 7th. Finally, KLR Group raised shares of Cimarex Energy from a “hold” rating to a “buy” rating and increased their price target for the company from $138.00 to $142.00 in a research note on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $134.32.
Shares of NYSE XEC opened at $100.59 on Wednesday. Cimarex Energy has a 12-month low of $87.98 and a 12-month high of $130.16. The stock has a market cap of $9,602.03, a P/E ratio of 21.63 and a beta of 1.19. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.38 and a quick ratio of 1.30.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings data on Wednesday, February 14th. The oil and gas producer reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.07. Cimarex Energy had a net margin of 25.77% and a return on equity of 18.73%. 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 prior year, the company earned $0.60 EPS. Cimarex Energy’s revenue was up 44.1% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Thursday, March 15th will be issued a $0.16 dividend. This is a positive change from Cimarex Energy’s previous quarterly dividend of $0.08. This represents a $0.64 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Monday, May 14th. Cimarex Energy’s dividend payout ratio is currently 6.88%.
In other news, CEO Thomas E. Jorden sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 18th. The shares were sold at an average price of $100.00, for a total value of $250,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Harold R. Logan, Jr. sold 1,900 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $97.82, for a total transaction of $185,858.00. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Boston Partners lifted its holdings in shares of Cimarex Energy by 28.0% in the 4th quarter. Boston Partners now owns 1,812,143 shares of the oil and gas producer’s stock worth $221,100,000 after acquiring an additional 395,877 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Cimarex Energy by 11.4% in the 4th quarter. Wells Fargo & Company MN now owns 1,506,133 shares of the oil and gas producer’s stock worth $183,763,000 after acquiring an additional 153,665 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cimarex Energy by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 969,389 shares of the oil and gas producer’s stock worth $118,015,000 after acquiring an additional 21,960 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Cimarex Energy by 226.7% in the 4th quarter. American Century Companies Inc. now owns 879,814 shares of the oil and gas producer’s stock worth $107,346,000 after acquiring an additional 610,508 shares during the last quarter. Finally, APG Asset Management N.V. lifted its holdings in shares of Cimarex Energy by 6.6% in the 4th quarter. APG Asset Management N.V. now owns 792,417 shares of the oil and gas producer’s stock worth $80,515,000 after acquiring an additional 49,300 shares during the last quarter. Hedge funds and other institutional investors own 92.30% 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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