Brokers Set Expectations for Cimarex Energy Co’s FY2017 Earnings (XEC)
Cimarex Energy Co (NYSE:XEC) – Investment analysts at Williams Capital dropped their FY2017 earnings estimates for shares of Cimarex Energy in a report released on Monday. Williams Capital analyst G. Sorbara now expects that the oil and gas producer will post earnings of $4.39 per share for the year, down from their previous forecast of $4.77. Williams Capital has a “Buy” rating and a $160.00 price objective on the stock. Williams Capital also issued estimates for Cimarex Energy’s FY2018 earnings at $6.65 EPS and FY2019 earnings at $10.07 EPS.
Several other analysts have also recently issued reports on the company. Scotiabank set a $164.00 price objective on Cimarex Energy and gave the stock a “buy” rating in a report on Monday, March 27th. Citigroup Inc. reaffirmed a “buy” rating and set a $166.00 price objective (up from $164.00) on shares of Cimarex Energy in a report on Saturday, April 22nd. KLR Group reaffirmed a “buy” rating and set a $151.00 price objective (up from $149.00) on shares of Cimarex Energy in a report on Wednesday, May 17th. BMO Capital Markets set a $150.00 price objective on Cimarex Energy and gave the stock a “buy” rating in a report on Monday, May 15th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $129.00 price objective (down from $139.00) on shares of Cimarex Energy in a report on Saturday, April 22nd. Ten investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $144.29.
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Shares of Cimarex Energy (XEC) traded down 0.59% during midday trading on Thursday, reaching $96.93. 97,784 shares of the company were exchanged. Cimarex Energy has a 12-month low of $96.39 and a 12-month high of $146.96. The company has a 50 day moving average price of $111.90 and a 200-day moving average price of $125.25. The stock’s market capitalization is $9.05 billion.
Cimarex Energy (NYSE:XEC) last announced its earnings results on Wednesday, May 10th. The oil and gas producer reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.20. The business had revenue of $447.20 million for the quarter, compared to the consensus estimate of $423.62 million. Cimarex Energy had a negative net margin of 7.78% and a positive return on equity of 9.03%. Cimarex Energy’s quarterly revenue was up 85.9% on a year-over-year basis. During the same period last year, the firm posted ($0.40) earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Friday, August 11th. Cimarex Energy’s payout ratio is currently -25.20%.
In related news, VP Stephen P. Bell sold 5,000 shares of the firm’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $117.24, for a total transaction of $586,200.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director L Paul Teague sold 1,038 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $120.00, for a total value of $124,560.00. Following the sale, the director now directly owns 44,394 shares in the company, valued at approximately $5,327,280. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,538 shares of company stock worth $1,001,760. 1.70% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of XEC. Public Employees Retirement System of Ohio increased its stake in shares of Cimarex Energy by 2.7% in the first quarter. Public Employees Retirement System of Ohio now owns 51,868 shares of the oil and gas producer’s stock worth $6,198,000 after buying an additional 1,350 shares during the last quarter. Boston Common Asset Management LLC increased its stake in shares of Cimarex Energy by 31.0% in the first quarter. Boston Common Asset Management LLC now owns 40,833 shares of the oil and gas producer’s stock worth $4,879,000 after buying an additional 9,659 shares during the last quarter. Achmea Investment Management B.V. bought a new stake in shares of Cimarex Energy during the first quarter worth $534,000. Bank of Nova Scotia increased its stake in shares of Cimarex Energy by 913.7% in the first quarter. Bank of Nova Scotia now owns 21,704 shares of the oil and gas producer’s stock worth $2,593,000 after buying an additional 19,563 shares during the last quarter. Finally, Janus Capital Management LLC increased its stake in shares of Cimarex Energy by 52.1% in the first quarter. Janus Capital Management LLC now owns 712,058 shares of the oil and gas producer’s stock worth $85,084,000 after buying an additional 243,969 shares during the last quarter. 93.02% of the stock is currently owned by institutional investors.
Cimarex Energy Company Profile
Cimarex Energy Co is an independent oil and gas exploration and production company. The Company operates in exploration and production (E&P) segment. Its operations are located in Oklahoma, Texas and New Mexico. Its E&P activities take place primarily in two areas: the Permian Basin and the Mid-Continent region.
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