Cimarex Energy Co (NYSE:XEC) – Equities researchers at Imperial Capital raised their FY2018 EPS estimates for Cimarex Energy in a research note issued to investors on Thursday. Imperial Capital analyst I. Haas now expects that the oil and gas producer will earn $6.00 per share for the year, up from their previous estimate of $5.50. Imperial Capital has a “Outperform” rating and a $141.00 price objective on the stock.
Several other analysts have also weighed in on XEC. KeyCorp reaffirmed a “buy” rating on shares of Cimarex Energy in a research note on Wednesday, November 8th. Capital One Financial Corporation reaffirmed an “overweight” rating on shares of Cimarex Energy in a research note on Wednesday, November 8th. UBS AG lowered Cimarex Energy from a “positive” rating to a “neutral” rating in a research note on Monday. Susquehanna Bancshares Inc lowered Cimarex Energy from a “positive” rating to a “neutral” rating in a research note on Monday. Finally, SunTrust Banks, Inc. raised their price objective on Cimarex Energy to $127.00 and gave the company a “hold” rating in a research note on Thursday, November 9th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $135.81.
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Cimarex Energy (NYSE XEC) traded down $3.18 on Monday, hitting $121.87. The stock had a trading volume of 1,034,800 shares, compared to its average volume of 1,067,144. The firm has a market cap of $11,912.38, a price-to-earnings ratio of 32.91 and a beta of 1.35. Cimarex Energy has a 12 month low of $89.49 and a 12 month high of $146.96. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.62.
Cimarex Energy (NYSE:XEC) last released its earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.12. The company had revenue of $463.68 million for the quarter, compared to analyst estimates of $451.53 million. Cimarex Energy had a return on equity of 16.11% and a net margin of 20.45%. Cimarex Energy’s quarterly revenue was up 38.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 EPS.
Hedge funds have recently modified their holdings of the business. Turner Investments LLC bought a new stake in Cimarex Energy in the second quarter worth approximately $100,000. Advisor Group Inc. increased its holdings in Cimarex Energy by 5.3% in the second quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock worth $113,000 after purchasing an additional 60 shares in the last quarter. Global X Management Co. LLC increased its holdings in Cimarex Energy by 14.7% in the second quarter. Global X Management Co. LLC now owns 1,265 shares of the oil and gas producer’s stock worth $119,000 after purchasing an additional 162 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in Cimarex Energy by 0.7% in the second quarter. State of Alaska Department of Revenue now owns 1,427 shares of the oil and gas producer’s stock worth $134,000 after purchasing an additional 10 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in Cimarex Energy in the third quarter worth approximately $206,000. Institutional investors and hedge funds own 91.05% of the company’s stock.
In other Cimarex Energy news, VP Stephen P. Bell sold 3,696 shares of Cimarex Energy stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $125.11, for a total value of $462,406.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas E. Jorden sold 2,500 shares of Cimarex Energy stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $125.10, for a total value of $312,750.00. The disclosure for this sale can be found here. Insiders have sold 26,107 shares of company stock valued at $2,918,092 over the last 90 days. 1.70% of the stock is owned by corporate insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.26%. Cimarex Energy’s dividend payout ratio (DPR) is 8.51%.
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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