Q2 2017 Earnings Forecast for Cimarex Energy Co (XEC) Issued By Williams Capital
Cimarex Energy Co (NYSE:XEC) – Research analysts at Williams Capital increased their Q2 2017 EPS estimates for Cimarex Energy in a report issued on Tuesday. Williams Capital analyst G. Sorbara now anticipates that the oil and gas producer will earn $0.94 per share for the quarter, up from their prior estimate of $0.93. Williams Capital currently has a “Buy” rating and a $160.00 target price on the stock. Williams Capital also issued estimates for Cimarex Energy’s FY2017 earnings at $4.48 EPS, FY2018 earnings at $6.70 EPS and FY2019 earnings at $10.21 EPS.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings data on Wednesday, May 10th. The oil and gas producer reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.20. The firm had revenue of $447.20 million during the quarter, compared to analysts’ expectations of $423.62 million. Cimarex Energy had a negative net margin of 7.78% and a positive return on equity of 9.03%. The business’s revenue for the quarter was up 85.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.40) earnings per share. WARNING: This piece was posted by American Banking News and is the property of of American Banking News. If you are viewing this piece on another site, it was copied illegally and republished in violation of U.S. & international copyright law. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/07/20/q2-2017-earnings-forecast-for-cimarex-energy-co-xec-issued-by-williams-capital.html.
Other research analysts have also issued research reports about the stock. FBR & Co set a $141.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a report on Thursday, May 18th. KLR Group restated a “buy” rating and set a $151.00 price target (up previously from $149.00) on shares of Cimarex Energy in a report on Wednesday, May 17th. BMO Capital Markets set a $150.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a report on Monday, May 15th. Scotiabank set a $164.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a report on Monday, March 27th. Finally, Citigroup Inc. restated a “buy” rating and set a $166.00 price target (up previously from $164.00) on shares of Cimarex Energy in a report on Saturday, April 22nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Cimarex Energy presently has a consensus rating of “Hold” and an average target price of $138.90.
Cimarex Energy (NYSE:XEC) opened at 96.73 on Thursday. The firm’s market cap is $9.03 billion. Cimarex Energy has a one year low of $89.49 and a one year high of $146.96. The company’s 50-day moving average is $96.18 and its 200-day moving average is $117.57.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in Cimarex Energy by 3,127.3% in the first quarter. BlackRock Inc. now owns 7,141,421 shares of the oil and gas producer’s stock worth $853,329,000 after buying an additional 6,920,140 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in 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 in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Cimarex Energy during the fourth quarter worth about $418,000. Hudson Bay Capital Management LP purchased a new position in Cimarex Energy during the fourth quarter worth about $1,699,000. Finally, Princeton Alpha Management LP purchased a new position in Cimarex Energy during the first quarter worth about $361,000. 92.70% of the stock is currently owned by hedge funds and other institutional investors.
In other Cimarex Energy news, VP Stephen P. Bell sold 5,000 shares of Cimarex Energy stock in a transaction on Friday, May 19th. The shares were sold at an average price of $117.24, for a total transaction of $586,200.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Thomas E. Jorden sold 2,500 shares of Cimarex Energy stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $116.40, for a total transaction of $291,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 8,538 shares of company stock worth $1,001,760 over the last ninety days. Insiders own 1.70% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be issued 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 is Friday, August 11th. Cimarex Energy’s dividend payout ratio is -25.20%.
About Cimarex Energy
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.
Receive News & Ratings for Cimarex Energy Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cimarex Energy Co and related companies with MarketBeat.com's FREE daily email newsletter.