Cimarex Energy Co (NYSE:XEC) – Equities research analysts at SunTrust Banks decreased their Q2 2020 earnings per share estimates for shares of Cimarex Energy in a note issued to investors on Thursday, June 25th. SunTrust Banks analyst N. Dingmann now expects that the oil and gas producer will earn ($0.70) per share for the quarter, down from their prior estimate of ($0.52). SunTrust Banks also issued estimates for Cimarex Energy’s Q3 2020 earnings at ($0.25) EPS, Q4 2020 earnings at ($0.20) EPS, FY2020 earnings at ($0.56) EPS, Q1 2021 earnings at ($0.06) EPS, Q2 2021 earnings at $0.06 EPS and FY2021 earnings at $0.52 EPS.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings results on Wednesday, May 6th. The oil and gas producer reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.17. The business had revenue of $472.83 million for the quarter, compared to analysts’ expectations of $504.50 million. Cimarex Energy had a negative net margin of 44.65% and a positive return on equity of 10.09%. The firm’s revenue for the quarter was down 18.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.20 earnings per share.
A number of other brokerages have also recently commented on XEC. Cowen upgraded shares of Cimarex Energy from a “market perform” rating to an “outperform” rating and dropped their target price for the company from $40.00 to $35.00 in a report on Wednesday, March 11th. Morgan Stanley boosted their target price on shares of Cimarex Energy from $26.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. Robert W. Baird dropped their target price on shares of Cimarex Energy from $51.00 to $21.00 and set an “outperform” rating on the stock in a report on Friday, April 24th. Mizuho boosted their target price on shares of Cimarex Energy from $36.00 to $45.00 in a report on Friday, June 19th. Finally, Stifel Nicolaus dropped their target price on shares of Cimarex Energy from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company’s stock. Cimarex Energy presently has a consensus rating of “Buy” and an average price target of $41.48.
NYSE:XEC opened at $27.06 on Monday. Cimarex Energy has a twelve month low of $12.15 and a twelve month high of $61.16. The stock has a market cap of $2.73 billion, a P/E ratio of -2.66 and a beta of 2.30. The company has a quick ratio of 1.01, a current ratio of 1.08 and a debt-to-equity ratio of 0.78. The firm’s fifty day simple moving average is $27.82 and its 200 day simple moving average is $32.89.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, August 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.25%. Cimarex Energy’s dividend payout ratio (DPR) is 19.73%.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Cimarex Energy by 48.8% during the 1st quarter. BlackRock Inc. now owns 9,163,055 shares of the oil and gas producer’s stock worth $154,214,000 after acquiring an additional 3,005,325 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Cimarex Energy by 0.3% during the 1st quarter. Victory Capital Management Inc. now owns 4,349,452 shares of the oil and gas producer’s stock worth $73,202,000 after acquiring an additional 13,871 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Cimarex Energy by 43.3% during the 1st quarter. JPMorgan Chase & Co. now owns 1,868,776 shares of the oil and gas producer’s stock worth $31,451,000 after acquiring an additional 564,838 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Cimarex Energy by 4.1% during the 4th quarter. Geode Capital Management LLC now owns 1,679,989 shares of the oil and gas producer’s stock worth $88,065,000 after acquiring an additional 65,464 shares in the last quarter. Finally, Balyasny Asset Management LLC raised its holdings in Cimarex Energy by 86.5% during the 1st quarter. Balyasny Asset Management LLC now owns 1,535,792 shares of the oil and gas producer’s stock valued at $25,847,000 after buying an additional 712,447 shares during the period. 95.58% of the stock is currently owned by institutional investors and hedge funds.
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, 2018, it had a total proved reserves of 591.2 million barrels of oil equivalent, consisting of 1.59 trillion cubic feet of natural gas; 146.5 million barrels (MMBbls) of oil; and 179.4 MMBbls of natural gas liquids primarily located in the Permian Basin and Mid-Continent regions.
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