Q3 2017 Earnings Forecast for Cimarex Energy Co Issued By Imperial Capital (XEC)
Cimarex Energy Co (NYSE:XEC) – Equities researchers at Imperial Capital issued their Q3 2017 EPS estimates for Cimarex Energy in a report issued on Tuesday. Imperial Capital analyst I. Haas forecasts that the oil and gas producer will earn $0.82 per share for the quarter. Imperial Capital has a “Outperform” rating and a $135.00 price objective on the stock. Imperial Capital also issued estimates for Cimarex Energy’s Q4 2017 earnings at $0.92 EPS, FY2017 earnings at $4.14 EPS and FY2018 earnings at $5.51 EPS.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.11. Cimarex Energy had a net margin of 15.64% and a return on equity of 13.29%. The business had revenue of $456.50 million for the quarter, compared to analyst estimates of $441.52 million. During the same quarter last year, the firm earned $0.07 EPS. Cimarex Energy’s quarterly revenue was up 52.7% compared to the same quarter last year.
Several other equities research analysts have also weighed in on the company. Piper Jaffray Companies dropped their price target on Cimarex Energy from $141.00 to $116.00 and set a “neutral” rating on the stock in a research report on Monday. Jefferies Group LLC set a $98.00 target price on Cimarex Energy and gave the stock a “hold” rating in a report on Tuesday, August 29th. Cowen and Company set a $135.00 target price on Cimarex Energy and gave the stock a “buy” rating in a report on Friday, August 25th. BidaskClub raised Cimarex Energy from a “strong sell” rating to a “sell” rating in a report on Thursday, August 24th. Finally, Stifel Nicolaus set a $169.00 target price on Cimarex Energy and gave the stock a “buy” rating in a report on Wednesday, August 16th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Cimarex Energy currently has a consensus rating of “Buy” and an average target price of $134.19.
Cimarex Energy (NYSE:XEC) opened at 109.32 on Thursday. Cimarex Energy has a 1-year low of $89.49 and a 1-year high of $146.96. The company has a market cap of $10.21 billion, a price-to-earnings ratio of 39.15 and a beta of 1.32. The company’s 50-day moving average is $99.58 and its 200 day moving average is $106.74.
Several large investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue grew its position in shares of Cimarex Energy by 0.7% during the second quarter. State of Alaska Department of Revenue now owns 1,427 shares of the oil and gas producer’s stock worth $134,000 after purchasing an additional 10 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Cimarex Energy by 0.4% during the second quarter. Fisher Asset Management LLC now owns 3,013 shares of the oil and gas producer’s stock worth $283,000 after purchasing an additional 13 shares in the last quarter. ING Groep NV grew its position in shares of Cimarex Energy by 0.3% during the second quarter. ING Groep NV now owns 4,878 shares of the oil and gas producer’s stock worth $459,000 after purchasing an additional 17 shares in the last quarter. Cleararc Capital Inc. grew its position in shares of Cimarex Energy by 1.3% during the first quarter. Cleararc Capital Inc. now owns 2,347 shares of the oil and gas producer’s stock worth $280,000 after purchasing an additional 30 shares in the last quarter. Finally, Pacer Advisors Inc. grew its position in shares of Cimarex Energy by 3.2% during the first quarter. Pacer Advisors Inc. now owns 1,787 shares of the oil and gas producer’s stock worth $214,000 after purchasing an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.
In related news, Director Harold R. Logan, Jr. sold 913 shares of the stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $105.83, for a total transaction of $96,622.79. Following the completion of the sale, the director now owns 9,299 shares in the company, valued at $984,113.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Joseph R. Albi sold 2,000 shares of the stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $106.16, for a total value of $212,320.00. The disclosure for this sale can be found here. Insiders have sold 21,299 shares of company stock valued at $2,204,271 in the last quarter. 1.70% of the stock is currently owned by company insiders.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend is Tuesday, November 14th. Cimarex Energy’s dividend payout ratio is currently 12.03%.
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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