FY2019 EPS Estimates for Cimarex Energy Co (XEC) Cut by Analyst

Cimarex Energy Co (NYSE:XEC) – Stock analysts at SunTrust Banks cut their FY2019 EPS estimates for shares of Cimarex Energy in a research note issued to investors on Tuesday. SunTrust Banks analyst N. Dingmann now forecasts that the oil and gas producer will post earnings per share of $6.20 for the year, down from their prior forecast of $7.54. SunTrust Banks also issued estimates for Cimarex Energy’s FY2020 earnings at $8.59 EPS.

XEC has been the subject of a number of other research reports. Scotiabank reissued a “buy” rating and set a $161.00 target price on shares of Cimarex Energy in a research note on Thursday, February 16th. Jefferies Group LLC set a $119.00 target price on shares of Cimarex Energy and gave the stock a “hold” rating in a research note on Wednesday, May 17th. Piper Jaffray Companies reissued a “neutral” rating and set a $161.00 target price on shares of Cimarex Energy in a research note on Wednesday. FBR & Co lowered their target price on shares of Cimarex Energy from $174.00 to $166.00 and set an “outperform” rating for the company in a research note on Thursday, February 16th. Finally, Williams Capital raised shares of Cimarex Energy from a “hold” rating to a “buy” rating and lifted their target price for the stock from $148.00 to $160.00 in a research note on Monday, May 15th. They noted that the move was a valuation call. Ten research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $144.29.

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

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Shares of Cimarex Energy (NYSE XEC) opened at 99.89 on Friday. The stock’s market capitalization is $9.33 billion. The firm has a 50-day moving average price of $113.62 and a 200 day moving average price of $125.90. Cimarex Energy has a one year low of $98.20 and a one year high of $146.96.

Cimarex Energy (NYSE:XEC) last issued its earnings results on Wednesday, May 10th. The oil and gas producer reported $1.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.20. The company had revenue of $447.20 million during the quarter, compared to analysts’ expectations of $423.62 million. Cimarex Energy had a return on equity of 24.27% and a net margin of 29.29%. The firm’s quarterly revenue was up 85.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.40) EPS.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date is Friday, August 11th. Cimarex Energy’s dividend payout ratio is currently -2.70%.

In related news, VP Stephen P. Bell sold 5,000 shares of the firm’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $117.24, for a total transaction of $586,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas E. Jorden sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $116.40, for a total transaction of $291,000.00. The disclosure for this sale can be found here. Insiders have sold 11,853 shares of company stock valued at $1,409,383 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its position in Cimarex Energy by 2.8% in the fourth quarter. State Street Corp now owns 5,010,728 shares of the oil and gas producer’s stock worth $680,962,000 after buying an additional 136,374 shares during the last quarter. Artisan Partners Limited Partnership raised its position in Cimarex Energy by 16.1% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,508,234 shares of the oil and gas producer’s stock worth $204,969,000 after buying an additional 209,280 shares during the last quarter. Cipher Capital LP raised its position in Cimarex Energy by 99.4% in the fourth quarter. Cipher Capital LP now owns 77,526 shares of the oil and gas producer’s stock worth $10,536,000 after buying an additional 38,640 shares during the last quarter. Comerica Bank raised its position in Cimarex Energy by 1.3% in the fourth quarter. Comerica Bank now owns 29,359 shares of the oil and gas producer’s stock worth $4,100,000 after buying an additional 363 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in Cimarex Energy by 1.4% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 136,682 shares of the oil and gas producer’s stock worth $18,575,000 after buying an additional 1,855 shares during the last quarter. 92.22% of the stock is currently owned by institutional investors.

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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