Cimarex Energy Co (NYSE:XEC) – Analysts at SunTrust Banks upped their FY2017 earnings per share (EPS) estimates for shares of Cimarex Energy in a research report issued to clients and investors on Tuesday. SunTrust Banks analyst N. Dingmann now expects that the oil and gas producer will post earnings per share of $4.44 for the year, up from their previous forecast of $4.32. SunTrust Banks currently has a “Hold” rating and a $127.00 price target on the stock. SunTrust Banks also issued estimates for Cimarex Energy’s Q4 2017 earnings at $1.25 EPS and FY2019 earnings at $7.68 EPS.
XEC has been the topic of several other research reports. KeyCorp restated a “buy” rating on shares of Cimarex Energy in a research report on Wednesday, November 8th. Morgan Stanley increased their price objective on shares of Cimarex Energy from $138.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, October 18th. Williams Capital increased their price objective on shares of Cimarex Energy from $132.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. UBS Group downgraded shares of Cimarex Energy from a “positive” rating to a “neutral” rating in a report on Monday, November 13th. Finally, Stifel Nicolaus set a $168.00 price objective on shares of Cimarex Energy and gave the company a “buy” rating in a report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $136.71.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.12. The company had revenue of $463.68 million for the quarter, compared to analyst estimates of $451.53 million. Cimarex Energy had a net margin of 20.45% and a return on equity of 16.11%. The firm’s revenue was up 38.1% on a year-over-year basis. During the same quarter last year, the business earned $0.53 earnings per share.
Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Cimarex Energy by 0.7% in the second quarter. Vanguard Group Inc. now owns 9,899,309 shares of the oil and gas producer’s stock worth $930,634,000 after buying an additional 64,420 shares in the last quarter. BlackRock Inc. raised its stake in Cimarex Energy by 5.2% during the second quarter. BlackRock Inc. now owns 7,512,811 shares of the oil and gas producer’s stock worth $706,278,000 after purchasing an additional 371,390 shares during the period. State Street Corp raised 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 worth $513,162,000 after purchasing an additional 157,612 shares during the period. FMR LLC raised 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 worth $397,166,000 after purchasing an additional 59,537 shares during the period. Finally, Ameriprise Financial Inc. raised 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 worth $184,549,000 after purchasing an additional 478,543 shares during the period. 92.03% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Thomas E. Jorden sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $122.88, for a total value of $307,200.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Lisa A. Stewart purchased 248 shares of the firm’s stock in a transaction dated Friday, December 8th. The stock was 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 three months, insiders sold 32,264 shares of company stock worth $3,804,134. Insiders own 1.70% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be paid 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 is currently 8.00%.
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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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