Q2 2019 Earnings Estimate for Cimarex Energy Co (XEC) Issued By Jefferies Financial Group

Cimarex Energy Co (NYSE:XEC) – Analysts at Jefferies Financial Group lifted their Q2 2019 earnings per share estimates for Cimarex Energy in a report issued on Tuesday, November 20th. Jefferies Financial Group analyst T. Hughes now forecasts that the oil and gas producer will earn $1.97 per share for the quarter, up from their previous forecast of $1.83. Jefferies Financial Group currently has a “Buy” rating and a $117.00 target price on the stock.

Cimarex Energy (NYSE:XEC) last issued its quarterly earnings data on Tuesday, November 6th. The oil and gas producer reported $1.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.52 by $0.47. The business had revenue of $591.50 million for the quarter, compared to the consensus estimate of $561.67 million. Cimarex Energy had a net margin of 28.70% and a return on equity of 23.33%. The company’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.09 EPS.

A number of other analysts also recently weighed in on the stock. Morgan Stanley upped their target price on shares of Cimarex Energy from $124.00 to $127.00 and gave the stock a “buy” rating in a research report on Tuesday. Imperial Capital reaffirmed an “in-line” rating on shares of Cimarex Energy in a research report on Tuesday. Williams Capital set a $129.00 target price on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Monday. ValuEngine downgraded shares of Cimarex Energy from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 23rd. Finally, Wolfe Research raised shares of Cimarex Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, October 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $130.25.

NYSE:XEC opened at $83.86 on Wednesday. The stock has a market capitalization of $7.95 billion, a PE ratio of 18.03 and a beta of 1.04. The company has a current ratio of 1.69, a quick ratio of 1.62 and a debt-to-equity ratio of 0.49. Cimarex Energy has a 1-year low of $77.63 and a 1-year high of $130.16.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be paid a $0.18 dividend. This is a boost from Cimarex Energy’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.72 dividend on an annualized basis and a yield of 0.86%. Cimarex Energy’s payout ratio is presently 15.48%.

In other news, Director Lisa A. Stewart purchased 320 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The shares were bought at an average price of $84.05 per share, for a total transaction of $26,896.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.70% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Paloma Partners Management Co boosted its stake in Cimarex Energy by 20.4% in the 2nd quarter. Paloma Partners Management Co now owns 71,280 shares of the oil and gas producer’s stock worth $7,252,000 after purchasing an additional 12,079 shares in the last quarter. Swiss National Bank boosted its stake in Cimarex Energy by 3.5% in the 2nd quarter. Swiss National Bank now owns 315,161 shares of the oil and gas producer’s stock worth $32,064,000 after purchasing an additional 10,600 shares in the last quarter. Investec Asset Management LTD boosted its stake in Cimarex Energy by 173.1% in the 2nd quarter. Investec Asset Management LTD now owns 118,291 shares of the oil and gas producer’s stock worth $12,035,000 after purchasing an additional 74,981 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Cimarex Energy by 41.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 48,423 shares of the oil and gas producer’s stock worth $4,927,000 after purchasing an additional 14,213 shares in the last quarter. Finally, Advanced Asset Management Advisors Inc bought a new position in Cimarex Energy in the 2nd quarter worth about $621,000. Institutional investors own 98.47% of the company’s stock.

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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Earnings History and Estimates for Cimarex Energy (NYSE:XEC)

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