Jefferies Group Analysts Lift Earnings Estimates for Cimarex Energy Co (XEC)
Cimarex Energy Co (NYSE:XEC) – Research analysts at Jefferies Group upped their Q2 2018 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 $1.19 per share for the quarter, up from their previous forecast of $1.18. 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 Q3 2018 earnings at $1.37 EPS and FY2018 earnings at $5.15 EPS.
Other equities analysts have also recently issued research reports about the company. Citigroup Inc. dropped their target price on Cimarex Energy from $135.00 to $120.00 and set a “buy” rating for the company in a report on Friday, July 21st. Stifel Nicolaus reiterated a “buy” rating and issued a $169.00 target price on shares of Cimarex Energy in a report on Friday, July 14th. Scotiabank set a $143.00 price target on Cimarex Energy and gave the stock a “buy” rating in a research note on Saturday, July 1st. Williams Capital reissued a “buy” rating and set a $136.00 price target on shares of Cimarex Energy in a research note on Wednesday, August 9th. Finally, Cowen and Company set a $135.00 price target on Cimarex Energy and gave the stock a “buy” rating in a research note on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $134.86.
Shares of Cimarex Energy (XEC) traded down 1.017% during mid-day trading on Thursday, reaching $114.325. The company’s stock had a trading volume of 283,439 shares. Cimarex Energy has a 52-week low of $89.49 and a 52-week high of $146.96. The company has a 50-day moving average price of $107.54 and a 200 day moving average price of $106.11. The company has a market cap of $10.68 billion, a PE ratio of 40.947 and a beta of 1.35.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.11. Cimarex Energy had a return on equity of 13.29% and a net margin of 15.64%. The firm had revenue of $456.50 million during the quarter, compared to the consensus estimate of $441.52 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. The business’s revenue was up 52.7% on a year-over-year basis.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend is Tuesday, November 14th. Cimarex Energy’s payout ratio is 12.03%.
In other news, CEO Thomas E. Jorden sold 2,500 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $101.67, for a total value of $254,175.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harold R. Logan, Jr. sold 913 shares of the business’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $105.83, for a total value of $96,622.79. Following the completion of the transaction, the director now directly owns 9,299 shares of the company’s stock, valued at $984,113.17. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,299 shares of company stock valued at $2,204,271. Corporate insiders own 1.70% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in XEC. UBS Asset Management Americas Inc. raised its position in shares of 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 acquiring an additional 16,527 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of 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 acquiring an additional 55 shares in the last quarter. Stifel Financial Corp raised its position in shares of 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 acquiring an additional 1,337 shares in the last quarter. Credit Agricole S A raised its position in shares of 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 acquiring an additional 4,173 shares in the last quarter. Finally, Laurion Capital Management LP bought a new position in shares of Cimarex Energy in the 1st quarter worth $299,000. 90.25% of the stock is owned by hedge funds and other 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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