Cimarex Energy Co (NYSE:XEC) – Piper Jaffray Companies lowered their Q2 2019 EPS estimates for Cimarex Energy in a research note issued on Tuesday, May 14th. Piper Jaffray Companies analyst R. Todd now forecasts that the oil and gas producer will post earnings per share of $1.52 for the quarter, down from their previous estimate of $2.13. Piper Jaffray Companies also issued estimates for Cimarex Energy’s Q3 2019 earnings at $2.04 EPS, Q4 2019 earnings at $2.08 EPS, FY2019 earnings at $6.86 EPS, Q1 2020 earnings at $2.36 EPS, Q4 2020 earnings at $2.27 EPS and FY2020 earnings at $9.09 EPS.
A number of other research firms have also issued reports on XEC. Morgan Stanley set a $100.00 target price on Cimarex Energy and gave the company a “buy” rating in a research note on Thursday. Imperial Capital reissued an “outperform” rating and issued a $82.00 price target (down previously from $84.00) on shares of Cimarex Energy in a report on Friday, May 10th. Williams Capital set a $104.00 price target on Cimarex Energy and gave the company a “buy” rating in a report on Tuesday, January 22nd. Susquehanna Bancshares raised Cimarex Energy from a “neutral” rating to a “positive” rating and increased their price target for the company from $74.00 to $88.00 in a report on Friday, February 8th. Finally, Ifs Securities reissued a “market perform” rating on shares of Cimarex Energy in a report on Sunday, February 3rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $106.41.
Cimarex Energy (NYSE:XEC) last posted its earnings results on Wednesday, May 8th. The oil and gas producer reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.17). Cimarex Energy had a net margin of 26.90% and a return on equity of 19.95%. The company had revenue of $577.00 million during the quarter, compared to analyst estimates of $581.51 million. During the same quarter last year, the business posted $1.82 EPS. Cimarex Energy’s quarterly revenue was up 1.7% compared to the same quarter last year.
A number of large investors have recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Cimarex Energy in the 4th quarter worth approximately $26,000. First Bank & Trust bought a new stake in shares of Cimarex Energy in the 4th quarter worth approximately $28,000. Quantamental Technologies LLC bought a new stake in shares of Cimarex Energy in the 1st quarter worth approximately $31,000. CSat Investment Advisory L.P. lifted its holdings in shares of Cimarex Energy by 77.7% in the 4th quarter. CSat Investment Advisory L.P. now owns 549 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 240 shares during the last quarter. Finally, Nvwm LLC lifted its holdings in shares of Cimarex Energy by 462.0% in the 1st quarter. Nvwm LLC now owns 517 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 425 shares during the last quarter. 95.93% of the stock is currently owned by institutional investors.
In other Cimarex Energy news, Director Harold R. Logan, Jr. sold 990 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $70.00, for a total transaction of $69,300.00. Following the transaction, the director now owns 7,259 shares of the company’s stock, valued at approximately $508,130. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.70% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Wednesday, August 14th. Cimarex Energy’s dividend payout ratio is presently 10.81%.
Cimarex Energy Company Profile
Cimarex Energy Co operates as an independent oil and gas exploration and production company primarily in Oklahoma, Texas, and New Mexico. As of December 31, 2018, it had a total proved reserves of 591.2 million barrels of oil equivalent, consisting of 1.59 trillion cubic feet of natural gas; 146.5 million barrels (MMBbls) of oil; and 179.4 MMBbls of natural gas liquids primarily located in the Permian Basin and Mid-Continent regions.
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