Cimarex Energy (NYSE:XEC) – Research analysts at SunTrust Banks dropped their Q2 2018 earnings per share (EPS) estimates for Cimarex Energy in a research report issued on Wednesday, May 9th. SunTrust Banks analyst N. Dingmann now forecasts that the oil and gas producer will earn $1.64 per share for the quarter, down from their previous forecast of $1.74. SunTrust Banks currently has a “Buy” rating and a $130.00 target price on the stock. SunTrust Banks also issued estimates for Cimarex Energy’s FY2019 earnings at $8.96 EPS.
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XEC has been the subject of a number of other research reports. Piper Jaffray set a $131.00 price objective on Cimarex Energy and gave the stock a “hold” rating in a report on Wednesday, March 14th. Cowen set a $165.00 price objective on Cimarex Energy and gave the stock a “buy” rating in a report on Thursday, January 18th. UBS began coverage on Cimarex Energy in a report on Wednesday, March 7th. They issued a “buy” rating and a $118.00 price objective for the company. Stephens reiterated a “hold” rating and issued a $113.00 price objective on shares of Cimarex Energy in a report on Thursday, March 15th. Finally, ValuEngine downgraded Cimarex Energy from a “sell” rating to a “strong sell” rating in a report on Monday, May 7th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the company. Cimarex Energy presently has an average rating of “Buy” and an average price target of $133.35.
Cimarex Energy opened at $98.41 on Monday, according to Marketbeat. The company has a quick ratio of 1.40, a current ratio of 1.49 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $9.40 billion, a price-to-earnings ratio of 21.16 and a beta of 1.19. Cimarex Energy has a 12-month low of $96.15 and a 12-month high of $98.51.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings data on Tuesday, May 8th. The oil and gas producer reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.09. The business had revenue of $567.10 million during the quarter, compared to the consensus estimate of $568.46 million. Cimarex Energy had a return on equity of 20.67% and a net margin of 26.97%. The firm’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.05 earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 31st. Stockholders of record on Wednesday, August 15th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, August 14th. This represents a $0.64 annualized dividend and a dividend yield of 0.65%. Cimarex Energy’s payout ratio is presently 6.88%.
In related news, CEO Thomas E. Jorden sold 2,500 shares of the stock in a transaction on Wednesday, April 18th. The stock was sold at an average price of $100.00, for a total transaction of $250,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Harold R. Logan, Jr. sold 1,900 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $97.82, for a total value of $185,858.00. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in XEC. Assetmark Inc. boosted its position in shares of 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 buying an additional 894 shares during the last quarter. Dupont Capital Management Corp purchased a new stake in shares of Cimarex Energy during the first quarter valued at $158,000. Rampart Investment Management Company LLC boosted its position in shares of Cimarex Energy by 77.3% during the first quarter. Rampart Investment Management Company LLC now owns 2,073 shares of the oil and gas producer’s stock valued at $194,000 after buying an additional 904 shares during the last quarter. LMR Partners LLP purchased a new stake in shares of Cimarex Energy during the fourth quarter valued at $200,000. Finally, Eagle Ridge Investment Management purchased a new stake in shares of Cimarex Energy during the fourth quarter valued at $204,000. 95.19% of the stock is currently owned by institutional investors.
Cimarex Energy Company Profile
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.