Cimarex Energy Co (NYSE:XEC) – Analysts at SunTrust Banks boosted their FY2018 EPS estimates for Cimarex Energy in a note issued to investors on Thursday. SunTrust Banks analyst N. Dingmann now anticipates that the oil and gas producer will post earnings per share of $7.54 for the year, up from their previous forecast of $7.23. SunTrust Banks currently has a “Buy” rating and a $140.00 target price on the stock. SunTrust Banks also issued estimates for Cimarex Energy’s FY2019 earnings at $8.87 EPS.
Cimarex Energy (NYSE:XEC) last released its earnings results on Wednesday, February 14th. The oil and gas producer reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.07. The firm had revenue of $550.90 million for 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 company’s quarterly revenue was up 44.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 earnings per share.
Other research analysts have also recently issued research reports about the company. KLR Group raised Cimarex Energy from a “hold” rating to a “buy” rating and upped their target price for the company from $138.00 to $142.00 in a research note on Tuesday. Seaport Global Securities raised Cimarex Energy from a “sell” rating to a “buy” rating in a research note on Tuesday, December 19th. Deutsche Bank assumed coverage on Cimarex Energy in a research note on Thursday, February 1st. They set a “buy” rating and a $164.00 target price on the stock. Barclays upped their target price on Cimarex Energy from $132.00 to $141.00 and gave the company an “overweight” rating in a research note on Monday, November 20th. Finally, Jefferies Group set a $115.00 target price on Cimarex Energy and gave the company a “hold” rating in a research note on Thursday, November 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $139.71.
Cimarex Energy (NYSE:XEC) traded up $1.09 on Monday, hitting $99.82. The stock had a trading volume of 181,674 shares, compared to its average volume of 1,184,006. The company has a market capitalization of $9,405.11, a PE ratio of 19.02 and a beta of 1.14. Cimarex Energy has a 1 year low of $89.49 and a 1 year high of $133.81. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.42 and a current ratio of 1.38.
Hedge funds and other institutional investors have recently made changes to their positions in the business. IFM Investors Pty Ltd purchased a new stake in shares of Cimarex Energy during the 3rd quarter valued at $330,000. Trust Co. of Vermont lifted its holdings in shares of Cimarex Energy by 6.9% during the 3rd quarter. Trust Co. of Vermont now owns 26,240 shares of the oil and gas producer’s stock valued at $2,983,000 after purchasing an additional 1,692 shares during the last quarter. Commerce Bank lifted its holdings in shares of Cimarex Energy by 28.7% during the 3rd quarter. Commerce Bank now owns 4,482 shares of the oil and gas producer’s stock valued at $510,000 after purchasing an additional 1,000 shares during the last quarter. Colony Group LLC lifted its holdings in shares of Cimarex Energy by 38.7% during the 3rd quarter. Colony Group LLC now owns 22,154 shares of the oil and gas producer’s stock valued at $2,518,000 after purchasing an additional 6,177 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Cimarex Energy by 8.2% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 402,146 shares of the oil and gas producer’s stock valued at $45,712,000 after purchasing an additional 30,646 shares during the last quarter. 91.68% of the stock is currently owned by institutional investors and hedge funds.
In other Cimarex Energy news, VP Krista L. Johnson sold 2,229 shares of the stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $112.50, for a total transaction of $250,762.50. Following the sale, the vice president now owns 62,238 shares of the company’s stock, valued at approximately $7,001,775. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lisa A. Stewart bought 248 shares of the company’s stock in a transaction on Friday, December 8th. The shares were bought 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. Insiders have sold a total of 15,729 shares of company stock worth $1,800,003 in the last ninety days. Insiders own 1.70% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.32 annualized dividend and a yield of 0.32%. Cimarex Energy’s dividend payout ratio (DPR) is presently 6.17%.
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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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