Equities Analysts Offer Predictions for Cimarex Energy Co’s Q3 2017 Earnings (XEC)
Cimarex Energy Co (NYSE:XEC) – Equities research analysts at Jefferies Group dropped their Q3 2017 EPS estimates for shares of Cimarex Energy in a note issued to investors on Monday. Jefferies Group analyst M. Hsu now forecasts that the oil and gas producer will post earnings of $0.82 per share for the quarter, down from their previous estimate of $0.87. Jefferies Group currently has a “Hold” rating and a $98.00 target price on the stock. Jefferies Group also issued estimates for Cimarex Energy’s Q4 2017 earnings at $1.06 EPS, FY2017 earnings at $3.99 EPS, Q1 2018 earnings at $1.14 EPS, Q1 2019 earnings at $1.46 EPS, Q2 2019 earnings at $1.49 EPS, Q3 2019 earnings at $1.54 EPS and FY2019 earnings at $6.10 EPS.
Several other analysts have also issued reports on XEC. Wolfe Research lowered shares of Cimarex Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday, June 15th. Seaport Global Securities lowered shares of Cimarex Energy from a “neutral” rating to a “sell” rating and lowered their price target for the company from $141.00 to $77.00 in a research report on Wednesday, June 21st. Stifel Nicolaus reissued a “buy” rating on shares of Cimarex Energy in a research report on Wednesday, June 28th. Scotiabank set a $143.00 price target on shares of Cimarex Energy and gave the company a “buy” rating in a research report on Saturday, July 1st. Finally, Citigroup Inc. lowered their price target on shares of Cimarex Energy from $150.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $134.14.
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Shares of Cimarex Energy (XEC) opened at 114.84 on Wednesday. Cimarex Energy has a 12-month low of $89.49 and a 12-month high of $146.96. The stock has a 50 day moving average price of $107.07 and a 200-day moving average price of $106.04. The stock has a market cap of $10.73 billion, a price-to-earnings ratio of 41.13 and a beta of 1.35.
Cimarex Energy (NYSE:XEC) last released its earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.11. The company had revenue of $456.50 million during the quarter, compared to analyst estimates of $441.52 million. Cimarex Energy had a return on equity of 13.29% and a net margin of 15.64%. The company’s revenue for the quarter was up 52.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 earnings per share.
A number of hedge funds have recently added to or reduced their stakes in XEC. UBS Asset Management Americas Inc. grew its stake in Cimarex Energy by 7.3% in the 1st quarter. UBS Asset Management Americas Inc. now owns 244,361 shares of the oil and gas producer’s stock worth $29,199,000 after buying an additional 16,527 shares in the last quarter. Pacer Advisors Inc. grew its stake in Cimarex Energy by 3.2% in the 1st quarter. Pacer Advisors Inc. now owns 1,787 shares of the oil and gas producer’s stock worth $214,000 after buying an additional 55 shares in the last quarter. Stifel Financial Corp grew its stake in Cimarex Energy by 13.3% in the 1st quarter. Stifel Financial Corp now owns 11,418 shares of the oil and gas producer’s stock worth $1,366,000 after buying an additional 1,337 shares in the last quarter. Credit Agricole S A grew its stake in Cimarex Energy by 16.8% in the 1st quarter. Credit Agricole S A now owns 29,065 shares of the oil and gas producer’s stock worth $3,473,000 after buying an additional 4,173 shares in the last quarter. Finally, Laurion Capital Management LP purchased a new position in Cimarex Energy in the 1st quarter worth approximately $299,000. 90.25% of the stock is owned by institutional investors and hedge funds.
In related news, VP Joseph R. Albi sold 2,750 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $99.02, for a total transaction of $272,305.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas E. Jorden sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $101.67, for a total transaction of $254,175.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,299 shares of company stock valued at $2,204,271. 1.70% of the stock is owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.32 annualized dividend and a yield of 0.28%. Cimarex Energy’s dividend payout ratio is currently 12.03%.
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.
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