Cimarex Energy Co Forecasted to Earn Q4 2018 Earnings of $2.07 Per Share (XEC)

Cimarex Energy Co (NYSE:XEC) – Research analysts at Jefferies Financial Group reduced their Q4 2018 earnings per share (EPS) estimates for Cimarex Energy in a report released on Monday, October 15th. Jefferies Financial Group analyst T. Hughes now forecasts that the oil and gas producer will post earnings per share of $2.07 for the quarter, down from their prior estimate of $2.11. Jefferies Financial Group currently has a “Buy” rating and a $118.00 price target on the stock. Jefferies Financial Group also issued estimates for Cimarex Energy’s Q1 2019 earnings at $2.14 EPS, Q2 2019 earnings at $1.75 EPS, FY2019 earnings at $8.16 EPS and FY2020 earnings at $11.38 EPS.

A number of other research analysts have also weighed in on XEC. Williams Capital reaffirmed a “buy” rating and set a $134.00 price objective on shares of Cimarex Energy in a report on Wednesday, August 8th. Stifel Nicolaus set a $175.00 price objective on Cimarex Energy and gave the stock a “buy” rating in a report on Tuesday, August 7th. Morgan Stanley dropped their price objective on Cimarex Energy from $135.00 to $124.00 and set an “overweight” rating on the stock in a report on Thursday, July 12th. SunTrust Banks lowered Cimarex Energy from a “buy” rating to a “hold” rating and set a $94.00 price objective on the stock. in a report on Friday, September 7th. Finally, JPMorgan Chase & Co. cut shares of Cimarex Energy from an “overweight” rating to a “neutral” rating and set a $110.00 price target on the stock. in a research note on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $130.67.

NYSE XEC opened at $90.89 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.27 and a current ratio of 1.34. Cimarex Energy has a 12-month low of $80.53 and a 12-month high of $130.16. The company has a market cap of $8.86 billion, a price-to-earnings ratio of 19.54 and a beta of 0.96.

Cimarex Energy (NYSE:XEC) last released its earnings results on Tuesday, August 7th. The oil and gas producer reported $1.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.64 by ($0.05). Cimarex Energy had a return on equity of 21.47% and a net margin of 27.75%. The business had revenue of $556.27 million for the quarter, compared to analyst estimates of $557.26 million.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Thursday, November 15th will be issued a $0.18 dividend. This is a positive change from Cimarex Energy’s previous quarterly dividend of $0.16. The ex-dividend date is Wednesday, November 14th. This represents a $0.72 annualized dividend and a yield of 0.79%. Cimarex Energy’s dividend payout ratio is 13.76%.

In other news, Director Lisa A. Stewart bought 320 shares of the stock in a transaction on Thursday, August 30th. The shares were bought at an average price of $84.05 per share, with a total value of $26,896.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Nissay Asset Management Corp Japan ADV grew its holdings in Cimarex Energy by 9.7% during the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 7,091 shares of the oil and gas producer’s stock valued at $721,000 after buying an additional 628 shares during the last quarter. Trust Co. of Vermont boosted its stake in shares of Cimarex Energy by 2.7% during the first quarter. Trust Co. of Vermont now owns 28,840 shares of the oil and gas producer’s stock valued at $2,696,000 after acquiring an additional 750 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Cimarex Energy by 2.5% during the first quarter. Stifel Financial Corp now owns 30,466 shares of the oil and gas producer’s stock valued at $2,836,000 after acquiring an additional 756 shares during the last quarter. YHB Investment Advisors Inc. boosted its stake in shares of Cimarex Energy by 2.8% during the second quarter. YHB Investment Advisors Inc. now owns 31,416 shares of the oil and gas producer’s stock valued at $3,196,000 after acquiring an additional 855 shares during the last quarter. Finally, Front Row Advisors LLC boosted its stake in shares of Cimarex Energy by 26.9% during the second quarter. Front Row Advisors LLC now owns 4,086 shares of the oil and gas producer’s stock valued at $402,000 after acquiring an additional 865 shares during the last quarter. Institutional investors and hedge funds own 94.95% of the company’s stock.

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

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