Cimarex Energy Co (NYSE:XEC) – Equities researchers at KeyCorp reduced their Q3 2018 earnings estimates for Cimarex Energy in a research report issued on Tuesday, August 7th. KeyCorp analyst D. Deckelbaum now expects that the oil and gas producer will post earnings of $1.81 per share for the quarter, down from their prior estimate of $2.01. KeyCorp also issued estimates for Cimarex Energy’s Q4 2019 earnings at $2.73 EPS.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings data on Tuesday, August 7th. The oil and gas producer reported $1.59 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.05). The firm had revenue of $556.27 million during the quarter, compared to analyst estimates of $557.26 million. Cimarex Energy had a return on equity of 20.67% and a net margin of 26.97%.
A number of other research analysts also recently weighed in on the stock. Credit Suisse Group downgraded shares of Cimarex Energy from an “outperform” rating to a “neutral” rating in a research report on Thursday. Imperial Capital decreased their price objective on shares of Cimarex Energy from $156.00 to $128.00 and set an “outperform” rating for the company in a research report on Thursday. ValuEngine downgraded shares of Cimarex Energy from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Williams Capital reiterated a “buy” rating and issued a $134.00 price objective on shares of Cimarex Energy in a research report on Wednesday. Finally, Stifel Nicolaus set a $175.00 price objective on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $133.81.
Shares of Cimarex Energy stock opened at $88.87 on Friday. The stock has a market capitalization of $9.07 billion, a price-to-earnings ratio of 19.11 and a beta of 1.00. Cimarex Energy has a fifty-two week low of $82.45 and a fifty-two week high of $130.16. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.49 and a quick ratio of 1.40.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Glen Harbor Capital Management LLC grew its stake in Cimarex Energy by 12.8% during the 1st quarter. Glen Harbor Capital Management LLC now owns 4,664 shares of the oil and gas producer’s stock valued at $436,000 after acquiring an additional 528 shares in the last quarter. GSA Capital Partners LLP grew its stake in Cimarex Energy by 37.1% during the 1st quarter. GSA Capital Partners LLP now owns 30,818 shares of the oil and gas producer’s stock valued at $2,881,000 after acquiring an additional 8,337 shares in the last quarter. Franklin Resources Inc. grew its stake in Cimarex Energy by 137.0% during the 1st quarter. Franklin Resources Inc. now owns 17,273 shares of the oil and gas producer’s stock valued at $1,615,000 after acquiring an additional 9,984 shares in the last quarter. Advanced Asset Management Advisors Inc purchased a new stake in Cimarex Energy during the 2nd quarter valued at about $621,000. Finally, Los Angeles Capital Management & Equity Research Inc. grew its stake in Cimarex Energy by 3.3% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 325,208 shares of the oil and gas producer’s stock valued at $33,087,000 after acquiring an additional 10,498 shares in the last quarter. 94.45% of the stock is owned by institutional investors.
In other news, Director L Paul Teague sold 1,040 shares of the business’s stock in a transaction dated Wednesday, June 27th. The shares were sold at an average price of $100.10, for a total transaction of $104,104.00. Following the completion of the sale, the director now owns 40,106 shares of the company’s stock, valued at $4,014,610.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Joseph R. Albi sold 1,750 shares of the business’s stock in a transaction dated Wednesday, June 27th. The stock was sold at an average price of $100.10, for a total transaction of $175,175.00. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.
About Cimarex Energy
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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