Cimarex Energy Co (NYSE:XEC) – Equities research analysts at Piper Jaffray Companies cut their FY2018 earnings estimates for shares of Cimarex Energy in a note issued to investors on Wednesday, January 9th. Piper Jaffray Companies analyst R. Todd now expects that the oil and gas producer will earn $6.94 per share for the year, down from their previous forecast of $7.31. Piper Jaffray Companies currently 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.
XEC has been the topic of several other research reports. Cowen initiated coverage on Cimarex Energy in a report on Thursday, November 29th. They set a “market perform” rating and a $95.00 price target on the stock. JPMorgan Chase & Co. set a $88.00 price target on Cimarex Energy and gave the company a “hold” rating in a report on Friday, December 7th. Morgan Stanley decreased their price target on Cimarex Energy from $123.00 to $118.00 and set a “buy” rating on the stock in a report on Wednesday, September 26th. Wolfe Research upgraded Cimarex Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, October 17th. Finally, Williams Capital set a $109.00 target price on Cimarex Energy and gave the stock a “buy” rating in a research note on Wednesday, December 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the stock. Cimarex Energy currently has an average rating of “Buy” and an average price target of $121.70.
NYSE:XEC opened at $70.64 on Friday. Cimarex Energy has a fifty-two week low of $55.62 and a fifty-two week high of $130.16. The firm has a market cap of $6.57 billion, a P/E ratio of 15.19 and a beta of 1.30. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.62 and a current ratio of 1.69.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings results on Tuesday, November 6th. The oil and gas producer reported $1.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.52 by $0.47. Cimarex Energy had a return on equity of 23.33% and a net margin of 28.70%. The company had revenue of $591.50 million for the quarter, compared to analyst estimates of $561.67 million. During the same quarter in the prior year, the firm posted $1.09 EPS. Cimarex Energy’s quarterly revenue was up 27.6% compared to the same quarter last year.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Diamond Hill Capital Management Inc. grew its position in shares of Cimarex Energy by 4.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 5,623,331 shares of the oil and gas producer’s stock worth $522,632,000 after buying an additional 227,157 shares in the last quarter. Capital International Investors bought a new position in shares of Cimarex Energy during the 3rd quarter worth $418,230,000. International Value Advisers LLC grew its position in shares of Cimarex Energy by 13.5% during the 3rd quarter. International Value Advisers LLC now owns 3,061,838 shares of the oil and gas producer’s stock worth $284,567,000 after buying an additional 363,877 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Cimarex Energy by 4.7% during the 3rd quarter. Wells Fargo & Company MN now owns 2,762,986 shares of the oil and gas producer’s stock worth $256,792,000 after buying an additional 125,141 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in Cimarex Energy by 6.9% during the third quarter. Victory Capital Management Inc. now owns 2,373,681 shares of the oil and gas producer’s stock valued at $220,610,000 after purchasing an additional 153,010 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Michael J/Co Sullivan sold 1,492 shares of the stock in a transaction on Friday, December 14th. The stock was sold at an average price of $70.22, for a total transaction of $104,768.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 15th will be given 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 is Thursday, February 14th. Cimarex Energy’s payout ratio is 15.48%.
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