Cimarex Energy Co (NYSE:XEC) – Research analysts at KeyCorp upped their FY2017 EPS estimates for shares of Cimarex Energy in a note issued to investors on Sunday. KeyCorp analyst D. Deckelbaum now forecasts that the oil and gas producer will post earnings of $4.63 per share for the year, up from their previous forecast of $4.61. KeyCorp currently has a “Buy” rating and a $140.00 target price on the stock. KeyCorp also issued estimates for Cimarex Energy’s Q4 2017 earnings at $1.43 EPS, Q3 2018 earnings at $1.71 EPS, Q1 2019 earnings at $2.07 EPS, Q2 2019 earnings at $2.17 EPS, Q3 2019 earnings at $2.42 EPS, Q4 2019 earnings at $2.54 EPS and FY2019 earnings at $9.21 EPS.
Several other research analysts have also recently commented on XEC. Stifel Nicolaus set a $168.00 target price on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Thursday, October 5th. Barclays upped their target price on shares of Cimarex Energy from $117.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 11th. Citigroup restated a “buy” rating and issued a $120.00 target price on shares of Cimarex Energy in a research report on Friday, October 13th. Williams Capital upped their target price on shares of Cimarex Energy from $132.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Finally, Morgan Stanley upped their target price on shares of Cimarex Energy from $138.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $138.55.
Cimarex Energy (NYSE:XEC) last posted its earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 EPS for the quarter, topping the consensus estimate of $0.97 by $0.12. Cimarex Energy had a net margin of 20.45% and a return on equity of 16.11%. The firm had revenue of $463.68 million during the quarter, compared to analysts’ expectations of $451.53 million. During the same quarter in the prior year, the firm earned $0.53 EPS. Cimarex Energy’s quarterly revenue was up 38.1% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.25%. The ex-dividend date is Wednesday, February 14th. Cimarex Energy’s dividend payout ratio (DPR) is presently 8.00%.
In related news, VP Stephen P. Bell sold 3,696 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $125.11, for a total transaction of $462,406.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Francis Brian Barron sold 3,000 shares of the stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $112.59, for a total transaction of $337,770.00. Following the sale, the senior vice president now directly owns 87,723 shares of the company’s stock, valued at $9,876,732.57. The disclosure for this sale can be found here. Insiders sold 32,264 shares of company stock valued at $3,804,134 over the last quarter. Insiders own 1.70% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Cimarex Energy by 0.7% during the second quarter. Vanguard Group Inc. now owns 9,899,309 shares of the oil and gas producer’s stock valued at $930,634,000 after purchasing an additional 64,420 shares during the last quarter. State Street Corp lifted its stake in Cimarex Energy by 3.0% during the second quarter. State Street Corp now owns 5,458,745 shares of the oil and gas producer’s stock valued at $513,162,000 after purchasing an additional 157,612 shares during the last quarter. FMR LLC lifted its stake in Cimarex Energy by 1.4% during the second quarter. FMR LLC now owns 4,224,735 shares of the oil and gas producer’s stock valued at $397,166,000 after purchasing an additional 59,537 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Cimarex Energy by 41.8% during the third quarter. Ameriprise Financial Inc. now owns 1,623,569 shares of the oil and gas producer’s stock valued at $184,549,000 after purchasing an additional 478,543 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Cimarex Energy by 2.2% during the third quarter. Principal Financial Group Inc. now owns 1,579,168 shares of the oil and gas producer’s stock valued at $179,504,000 after purchasing an additional 34,393 shares during the last quarter. 92.00% of the stock is owned by institutional investors and hedge funds.
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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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