Cimarex Energy Co (NYSE:XEC) – Stock analysts at Capital One Financial cut their Q1 2018 earnings per share estimates for Cimarex Energy in a research report issued to clients and investors on Friday. Capital One Financial analyst R. Tullis now anticipates that the oil and gas producer will post earnings per share of $1.48 for the quarter, down from their previous estimate of $1.74. Capital One Financial also issued estimates for Cimarex Energy’s Q2 2018 earnings at $1.57 EPS, Q3 2018 earnings at $1.71 EPS and Q4 2018 earnings at $1.82 EPS.
Several other brokerages have also recently issued reports on XEC. Credit Suisse Group started coverage on Cimarex Energy in a report on Monday, December 11th. They issued an “outperform” rating and a $140.00 price objective for the company. BMO Capital Markets decreased their price objective on Cimarex Energy to $125.00 and set an “outperform” rating for the company in a report on Friday, February 16th. Morgan Stanley decreased their price objective on Cimarex Energy from $168.00 to $165.00 and set an “overweight” rating for the company in a report on Wednesday, February 7th. Jefferies Group set a $117.00 price objective on Cimarex Energy and gave the company a “hold” rating in a report on Wednesday, December 20th. Finally, Robert W. Baird set a $121.00 price objective on Cimarex Energy and gave the company a “buy” rating in a report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have given a buy rating to the stock. Cimarex Energy currently has an average rating of “Buy” and a consensus target price of $136.32.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings results on Wednesday, February 14th. The oil and gas producer reported $1.47 EPS for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.07. The company had revenue of $550.90 million during the quarter, compared to analysts’ expectations of $537.74 million. Cimarex Energy had a return on equity of 18.73% and a net margin of 25.77%. The firm’s revenue was up 44.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 EPS.
A number of large investors have recently bought and sold shares of XEC. Assetmark Inc. increased its stake in Cimarex Energy by 1,015.9% during the 4th quarter. Assetmark Inc. now owns 982 shares of the oil and gas producer’s stock worth $120,000 after buying an additional 894 shares in the last quarter. LMR Partners LLP purchased a new stake in Cimarex Energy during the 4th quarter worth approximately $200,000. Eagle Ridge Investment Management purchased a new stake in Cimarex Energy during the 4th quarter worth approximately $204,000. Capital Advisors Inc. OK purchased a new stake in Cimarex Energy during the 4th quarter worth approximately $205,000. Finally, Signition LP purchased a new stake in Cimarex Energy during the 4th quarter worth approximately $206,000. Institutional investors own 92.33% of the company’s stock.
In related news, Director Harold R. Logan, Jr. sold 1,900 shares of Cimarex Energy stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $97.82, for a total value of $185,858.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas E. Jorden sold 2,500 shares of Cimarex Energy 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 disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Thursday, March 15th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Monday, May 14th. This is a positive change from Cimarex Energy’s previous quarterly dividend of $0.08. Cimarex Energy’s payout ratio is currently 6.17%.
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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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