FY2016 EPS Estimates for Cimarex Energy Co. Increased by Williams Capital (XEC)
Cimarex Energy Co. (NYSE:XEC) – Williams Capital upped their FY2016 earnings estimates for Cimarex Energy in a research report issued to clients and investors on Monday. Williams Capital analyst G. Sorbara now expects that the brokerage will post earnings of $0.68 per share for the year, up from their prior estimate of $0.65. Williams Capital currently has a “Hold” rating and a $143.00 target price on the stock. Williams Capital also issued estimates for Cimarex Energy’s FY2017 earnings at $3.32 EPS and FY2018 earnings at $5.52 EPS.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.18. The firm earned $298.90 million during the quarter, compared to analyst estimates of $279.22 million. Cimarex Energy had a negative net margin of 153.32% and a negative return on equity of 2.41%. Cimarex Energy’s revenue was down 29.6% on a year-over-year basis. During the same period last year, the firm posted $0.15 EPS.
Several other equities research analysts also recently issued reports on the stock. FBR & Co assumed coverage on shares of Cimarex Energy in a research note on Tuesday, September 13th. They issued an “outperform” rating and a $160.00 target price for the company. Citigroup Inc. raised their price objective on shares of Cimarex Energy from $149.00 to $157.00 and gave the stock a “buy” rating in a research report on Monday, September 12th. Stifel Nicolaus restated a “buy” rating on shares of Cimarex Energy in a research report on Wednesday, August 31st. Wells Fargo & Co. assumed coverage on shares of Cimarex Energy in a research report on Wednesday, August 31st. They set an “outperform” rating and a $150.00 price objective for the company. Finally, Zacks Investment Research downgraded shares of Cimarex Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, August 17th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $119.68.
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Shares of Cimarex Energy (NYSE:XEC) traded down 0.41% during trading on Tuesday, hitting $136.90. 264,742 shares of the company traded hands. Cimarex Energy has a 52-week low of $72.77 and a 52-week high of $142.07. The stock’s market capitalization is $13.00 billion. The company has a 50-day moving average of $132.60 and a 200-day moving average of $120.29.
A number of institutional investors have recently added to or reduced their stakes in the stock. Rafferty Asset Management LLC raised its position in Cimarex Energy by 190.4% in the first quarter. Rafferty Asset Management LLC now owns 7,010 shares of the company’s stock valued at $682,000 after buying an additional 4,596 shares during the last quarter. State Street Corp raised its position in shares of Cimarex Energy by 2.5% in the first quarter. State Street Corp now owns 4,671,744 shares of the company’s stock valued at $454,415,000 after buying an additional 113,480 shares in the last quarter. Stockman Asset Management raised its position in shares of Cimarex Energy by 6.6% in the first quarter. Stockman Asset Management now owns 4,501 shares of the company’s stock valued at $438,000 after buying an additional 278 shares in the last quarter. Credit Agricole S A raised its position in shares of Cimarex Energy by 3.8% in the first quarter. Credit Agricole S A now owns 14,133 shares of the company’s stock valued at $1,375,000 after buying an additional 511 shares in the last quarter. Finally, Aviva PLC raised its position in shares of Cimarex Energy by 4.1% in the first quarter. Aviva PLC now owns 48,025 shares of the company’s stock valued at $4,671,000 after buying an additional 1,882 shares in the last quarter. Institutional investors and hedge funds own 92.38% of the company’s stock.
In related news, VP James H. Shonsey sold 3,780 shares of the business’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $127.30, for a total value of $481,194.00. Following the transaction, the vice president now owns 8,000 shares in the company, valued at $1,018,400. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Francis Brian Barron sold 500 shares of the business’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $135.54, for a total transaction of $67,770.00. Following the completion of the transaction, the senior vice president now owns 67,039 shares in the company, valued at approximately $9,086,466.06. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $0.32 annualized dividend and a yield of 0.23%. Cimarex Energy’s payout ratio is -1.61%.
Cimarex Energy Company Profile
Cimarex Energy Co is an independent oil and gas exploration and production company. The Company’s segment is exploration and production. Its operations are located mainly in Oklahoma, Texas and New Mexico. Its operations are focused in approximately two main areas, such as the Permian Basin and the Mid-Continent region.
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