Cimarex Energy Co (NYSE:XEC) – Piper Jaffray Companies cut their FY2018 earnings per share estimates for Cimarex Energy in a research note issued to investors on Wednesday, January 9th. Piper Jaffray Companies analyst R. Todd now anticipates that the oil and gas producer will post earnings per share of $6.94 for the year, down from their prior forecast of $7.31. Piper Jaffray Companies has a “Neutral” rating on the stock. Piper Jaffray Companies also issued estimates for Cimarex Energy’s Q4 2018 earnings at $1.54 EPS, Q1 2019 earnings at $0.92 EPS, Q2 2019 earnings at $1.11 EPS, Q3 2019 earnings at $1.40 EPS, Q4 2019 earnings at $1.66 EPS, FY2019 earnings at $5.10 EPS, Q1 2020 earnings at $1.91 EPS, Q2 2020 earnings at $1.74 EPS, Q3 2020 earnings at $1.90 EPS, Q4 2020 earnings at $1.99 EPS and FY2020 earnings at $7.54 EPS.
Several other research analysts also recently commented on XEC. Williams Capital set a $129.00 target price on shares of Cimarex Energy and gave the stock a “buy” rating in a research note on Monday, November 19th. MKM Partners started coverage on shares of Cimarex Energy in a research note on Wednesday, December 5th. They issued a “buy” rating and a $108.00 target price on the stock. Imperial Capital reissued an “in-line” rating on shares of Cimarex Energy in a research report on Tuesday, November 20th. Jefferies Financial Group set a $117.00 price objective on shares of Cimarex Energy and gave the company a “buy” rating in a research report on Tuesday, November 20th. Finally, Morgan Stanley set a $124.00 price objective on shares of Cimarex Energy and gave the company a “buy” rating in a research report on Friday, October 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the stock. Cimarex Energy currently has an average rating of “Buy” and a consensus price target of $121.70.
Cimarex Energy (NYSE:XEC) last issued its earnings results on Tuesday, November 6th. The oil and gas producer reported $1.99 EPS for the quarter, topping the consensus estimate of $1.52 by $0.47. Cimarex Energy had a net margin of 28.70% and a return on equity of 23.33%. The company had revenue of $591.50 million for the quarter, compared to the consensus estimate of $561.67 million. During the same period in the previous year, the firm earned $1.09 earnings per share. The firm’s revenue for the quarter was up 27.6% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 15th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, February 14th. Cimarex Energy’s dividend payout ratio (DPR) is presently 15.48%.
In other news, Director Michael J/Co Sullivan sold 1,492 shares of the business’s stock in a transaction on Friday, December 14th. The shares were sold at an average price of $70.22, for a total transaction of $104,768.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. First Hawaiian Bank boosted its holdings in shares of Cimarex Energy by 29.4% during the 4th quarter. First Hawaiian Bank now owns 4,726 shares of the oil and gas producer’s stock valued at $292,000 after buying an additional 1,074 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Cimarex Energy by 12.1% during the 4th quarter. State of Alaska Department of Revenue now owns 40,977 shares of the oil and gas producer’s stock valued at $2,523,000 after buying an additional 4,408 shares in the last quarter. Fulton Bank N.A. boosted its holdings in shares of Cimarex Energy by 8.9% during the 4th quarter. Fulton Bank N.A. now owns 3,340 shares of the oil and gas producer’s stock valued at $206,000 after buying an additional 274 shares in the last quarter. Belpointe Asset Management LLC boosted its holdings in shares of Cimarex Energy by 32.7% during the 3rd quarter. Belpointe Asset Management LLC now owns 3,167 shares of the oil and gas producer’s stock valued at $294,000 after buying an additional 780 shares in the last quarter. Finally, Morgan Stanley boosted its stake in Cimarex Energy by 26.2% in the 3rd quarter. Morgan Stanley now owns 326,513 shares of the oil and gas producer’s stock worth $30,347,000 after purchasing an additional 67,809 shares in the last quarter. Hedge funds and other institutional investors own 98.24% 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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