Jefferies Group Comments on Cimarex Energy Co’s FY2017 Earnings (XEC)
Cimarex Energy Co (NYSE:XEC) – Stock analysts at Jefferies Group lifted their FY2017 earnings per share (EPS) estimates for shares of Cimarex Energy in a research note issued to investors on Thursday. Jefferies Group analyst M. Hsu now anticipates that the oil and gas producer will earn $4.28 per share for the year, up from their prior estimate of $3.99. Jefferies Group currently has a “Hold” rating and a $115.00 target price on the stock. Jefferies Group also issued estimates for Cimarex Energy’s Q4 2017 earnings at $1.09 EPS, Q1 2018 earnings at $1.31 EPS, Q2 2018 earnings at $1.41 EPS, Q4 2018 earnings at $1.70 EPS, FY2018 earnings at $6.02 EPS, Q1 2019 earnings at $1.86 EPS, Q2 2019 earnings at $1.95 EPS, Q3 2019 earnings at $2.07 EPS and FY2019 earnings at $8.06 EPS.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings data on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.12. Cimarex Energy had a net margin of 20.45% and a return on equity of 16.11%. The business had revenue of $463.68 million during the quarter, compared to analyst estimates of $451.53 million. During the same period last year, the firm posted $0.53 EPS. The company’s revenue was up 38.1% on a year-over-year basis.
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Other equities research analysts have also issued reports about the stock. Barclays PLC increased their price objective on shares of Cimarex Energy from $112.00 to $117.00 and gave the company an “overweight” rating in a report on Tuesday, August 15th. BidaskClub downgraded Cimarex Energy from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Stifel Nicolaus set a $169.00 target price on Cimarex Energy and gave the company a “buy” rating in a research report on Wednesday, August 16th. Piper Jaffray Companies lowered their target price on Cimarex Energy from $141.00 to $116.00 and set a “neutral” rating for the company in a research report on Monday, September 18th. Finally, KeyCorp reiterated a “buy” rating and set a $130.00 target price on shares of Cimarex Energy in a research report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company’s stock. Cimarex Energy has an average rating of “Buy” and a consensus target price of $136.62.
Shares of Cimarex Energy (XEC) opened at $116.57 on Monday. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.62. Cimarex Energy has a fifty-two week low of $89.49 and a fifty-two week high of $146.96. The stock has a market cap of $11,104.56, a P/E ratio of 30.68 and a beta of 1.35.
Several large investors have recently added to or reduced their stakes in the company. Belpointe Asset Management LLC bought a new stake in shares of Cimarex Energy during the third quarter worth $311,000. IFM Investors Pty Ltd purchased a new position in shares of Cimarex Energy during the third quarter valued at $330,000. Sterling Capital Management LLC increased its stake in shares of Cimarex Energy by 48.0% during the third quarter. Sterling Capital Management LLC now owns 3,700 shares of the oil and gas producer’s stock valued at $421,000 after buying an additional 1,200 shares during the period. Colony Group LLC increased its stake in shares of Cimarex Energy by 38.7% during the third quarter. Colony Group LLC now owns 22,154 shares of the oil and gas producer’s stock valued at $2,518,000 after buying an additional 6,177 shares during the period. Finally, Piedmont Investment Advisors LLC purchased a new position in shares of Cimarex Energy during the third quarter valued at $250,000. Institutional investors and hedge funds own 93.44% of the company’s stock.
In other news, VP Krista L. Johnson sold 5,341 shares of Cimarex Energy stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $116.46, for a total transaction of $622,012.86. Following the completion of the sale, the vice president now directly owns 42,938 shares in the company, valued at $5,000,559.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Harold R. Logan, Jr. sold 913 shares of Cimarex Energy 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 sale, the director now 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 quarter, insiders have sold 31,448 shares of company stock valued at $3,540,105. Corporate insiders own 1.70% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, November 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.27%. Cimarex Energy’s dividend payout ratio (DPR) is 8.51%.
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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