Cimarex Energy Co (NYSE:XEC) – Investment analysts at KeyCorp decreased their Q2 2018 earnings estimates for shares of Cimarex Energy in a research note issued to investors on Wednesday. KeyCorp analyst D. Deckelbaum now anticipates that the oil and gas producer will post earnings per share of $1.64 for the quarter, down from their previous forecast of $1.67. KeyCorp currently has a “Buy” rating and a $140.00 target price on the stock. KeyCorp also issued estimates for Cimarex Energy’s Q3 2018 earnings at $1.77 EPS, Q4 2018 earnings at $2.17 EPS and FY2019 earnings at $9.75 EPS.
XEC has been the topic of a number of other research reports. Jefferies Group set a $115.00 target price on shares of Cimarex Energy and gave the company a “hold” rating in a research report on Thursday, November 16th. SunTrust Banks upgraded shares of Cimarex Energy from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research note on Tuesday, February 6th. Capital One Financial reiterated an “overweight” rating on shares of Cimarex Energy in a research note on Wednesday, November 8th. Cowen set a $165.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a research note on Thursday, January 18th. Finally, Scotiabank set a $143.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a research note on Saturday, November 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $139.52.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings results on Wednesday, February 14th. The oil and gas producer reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.07. Cimarex Energy had a net margin of 25.77% and a return on equity of 18.73%. The firm had revenue of $550.90 million for the quarter, compared to analysts’ expectations of $537.74 million. During the same quarter in the previous year, the company posted $0.60 EPS. The company’s revenue was up 44.1% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be paid a dividend of $0.08 per share. The ex-dividend date is Wednesday, February 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.32%. Cimarex Energy’s payout ratio is 6.17%.
In related news, CEO Thomas E. Jorden sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $122.88, for a total transaction of $307,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Francis Brian Barron sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $112.59, for a total transaction of $337,770.00. Following the sale, the senior vice president now owns 87,723 shares in the company, valued at $9,876,732.57. The disclosure for this sale can be found here. Insiders have sold 17,479 shares of company stock worth $2,000,868 over the last 90 days. Insiders own 1.70% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Assetmark Inc. increased its stake in Cimarex Energy by 1,015.9% in the fourth quarter. Assetmark Inc. now owns 982 shares of the oil and gas producer’s stock valued at $120,000 after purchasing an additional 894 shares during the last quarter. Advisor Group Inc. increased its stake 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 valued at $113,000 after purchasing an additional 60 shares during the last quarter. LMR Partners LLP purchased a new position in Cimarex Energy in the fourth quarter valued at approximately $200,000. Eagle Ridge Investment Management purchased a new position in Cimarex Energy in the fourth quarter valued at approximately $204,000. Finally, Capital Advisors Inc. OK purchased a new position in Cimarex Energy in the fourth quarter valued at approximately $205,000. Institutional investors own 93.28% of the company’s stock.
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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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