Cimarex Energy Co (NYSE:XEC) – SunTrust Banks increased their FY2018 earnings per share estimates for shares of Cimarex Energy in a report issued on Tuesday. SunTrust Banks analyst N. Dingmann now forecasts that the oil and gas producer will post earnings of $7.23 per share for the year, up from their previous forecast of $5.91. SunTrust Banks has a “Buy” rating and a $140.00 price target on the stock. SunTrust Banks also issued estimates for Cimarex Energy’s FY2019 earnings at $8.83 EPS and FY2020 earnings at $11.20 EPS.
Other equities research analysts also recently issued research reports about the stock. Williams Capital increased their price objective 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. Citigroup reissued a “buy” rating and issued a $120.00 price target on shares of Cimarex Energy in a report on Friday, October 13th. KeyCorp reissued a “buy” rating on shares of Cimarex Energy in a report on Wednesday, November 8th. Scotiabank set a $143.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a report on Saturday, November 25th. Finally, Seaport Global Securities raised shares of Cimarex Energy from a “sell” rating to a “buy” rating in a report on Tuesday, December 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $141.38.
Institutional investors and hedge funds have recently made changes to their positions in the company. Suntrust Banks Inc. lifted its stake in shares of Cimarex Energy by 21.0% during the 2nd quarter. Suntrust Banks Inc. now owns 3,228 shares of the oil and gas producer’s stock worth $302,000 after buying an additional 561 shares during the last quarter. Advisor Group Inc. lifted its stake in Cimarex Energy by 5.3% in the second quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock worth $113,000 after acquiring an additional 60 shares during the period. Voya Investment Management LLC lifted its stake in Cimarex Energy by 11.9% in the second quarter. Voya Investment Management LLC now owns 60,662 shares of the oil and gas producer’s stock worth $5,703,000 after acquiring an additional 6,434 shares during the period. Stifel Financial Corp lifted its stake in Cimarex Energy by 62.4% in the second quarter. Stifel Financial Corp now owns 18,539 shares of the oil and gas producer’s stock worth $1,736,000 after acquiring an additional 7,121 shares during the period. Finally, Tudor Investment Corp ET AL purchased a new stake in Cimarex Energy in the second quarter worth $275,000. Hedge funds and other institutional investors own 92.34% of the company’s stock.
In other Cimarex Energy news, VP Krista L. Johnson sold 5,341 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $116.46, for a total transaction of $622,012.86. Following the sale, the vice president now directly owns 42,938 shares of the company’s stock, valued at $5,000,559.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Lisa A. Stewart acquired 248 shares of the company’s stock in a transaction on Friday, December 8th. The shares were acquired at an average cost of $112.06 per share, for a total transaction of $27,790.88. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 22,820 shares of company stock worth $2,622,880. Insiders own 1.70% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.31%. The ex-dividend date is Wednesday, February 14th. Cimarex Energy’s dividend payout ratio (DPR) is presently 8.51%.
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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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