Cimarex Energy Co (NYSE:XEC) – Investment analysts at Capital One Financial reduced their FY2018 earnings per share (EPS) estimates for shares of Cimarex Energy in a report released on Tuesday, November 20th. Capital One Financial analyst R. Tullis now forecasts that the oil and gas producer will earn $7.21 per share for the year, down from their previous forecast of $7.32. Capital One Financial also issued estimates for Cimarex Energy’s Q4 2018 earnings at $1.81 EPS, Q2 2019 earnings at $2.19 EPS, Q3 2019 earnings at $2.42 EPS, Q4 2019 earnings at $2.70 EPS and FY2019 earnings at $9.03 EPS.
Several other brokerages have also weighed in on XEC. ValuEngine raised Cimarex Energy from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 9th. Williams Capital reissued a “buy” rating and issued a $134.00 price objective on shares of Cimarex Energy in a report on Wednesday, August 8th. Stifel Nicolaus set a $175.00 price objective on Cimarex Energy and gave the company a “buy” rating in a report on Tuesday, August 7th. JPMorgan Chase & Co. lowered Cimarex Energy from an “overweight” rating to a “neutral” rating and set a $110.00 price objective for the company. in a report on Wednesday, August 8th. Finally, Morgan Stanley lowered their price objective on Cimarex Energy from $123.00 to $118.00 and set a “buy” rating for the company in a report on Wednesday, September 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the stock. Cimarex Energy presently has a consensus rating of “Buy” and a consensus target price of $130.25.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings data on Tuesday, November 6th. The oil and gas producer reported $1.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.52 by $0.47. The firm had revenue of $591.50 million during the quarter, compared to analyst estimates of $561.67 million. Cimarex Energy had a return on equity of 23.33% and a net margin of 28.70%. Cimarex Energy’s quarterly revenue was up 27.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.09 earnings per share.
A number of hedge funds have recently modified their holdings of XEC. Mount Yale Investment Advisors LLC acquired a new position in shares of Cimarex Energy during the second quarter worth approximately $115,000. JNBA Financial Advisors acquired a new position in shares of Cimarex Energy during the third quarter worth approximately $143,000. Point72 Hong Kong Ltd acquired a new position in shares of Cimarex Energy during the second quarter worth approximately $161,000. Eagle Boston Investment Management Inc. acquired a new position in shares of Cimarex Energy during the second quarter worth approximately $204,000. Finally, Cue Financial Group Inc. acquired a new position in shares of Cimarex Energy during the second quarter worth approximately $241,000. Institutional investors own 98.47% of the company’s stock.
In related news, Director Lisa A. Stewart bought 320 shares of the firm’s stock in a transaction on Thursday, August 30th. The stock was bought at an average cost of $84.05 per share, for a total transaction of $26,896.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.70% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Thursday, November 15th will be paid a $0.18 dividend. This is an increase from Cimarex Energy’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Wednesday, November 14th. Cimarex Energy’s payout ratio is presently 15.48%.
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, 2017, it had a total proved oil and gas reserves of 3.35 trillion cubic feet equivalent (Tcfe) consisting of 1.61 trillion cubic feet of natural gas, 0.82 Tcfe of oil, and 0.92 Tcfe of natural gas liquids primarily located in the Mid-Continent and Permian Basin regions.
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