Brokers Set Expectations for Cimarex Energy Co’s Q2 2019 Earnings (XEC)
Cimarex Energy Co (NYSE:XEC) – Stock analysts at Piper Jaffray Companies lifted their Q2 2019 EPS estimates for Cimarex Energy in a research note issued to investors on Thursday, April 18th. Piper Jaffray Companies analyst R. Todd now forecasts that the oil and gas producer will earn $2.13 per share for the quarter, up from their previous forecast of $2.03. Piper Jaffray Companies also issued estimates for Cimarex Energy’s Q3 2019 earnings at $2.31 EPS, FY2019 earnings at $8.29 EPS, Q1 2020 earnings at $2.42 EPS, Q2 2020 earnings at $2.21 EPS, Q3 2020 earnings at $2.23 EPS and FY2020 earnings at $9.12 EPS.
Other equities analysts have also recently issued research reports about the stock. Susquehanna Bancshares cut shares of Cimarex Energy from a “positive” rating to a “neutral” rating in a research report on Monday, February 11th. Ifs Securities restated a “market perform” rating on shares of Cimarex Energy in a research report on Sunday, February 3rd. Mizuho began coverage on shares of Cimarex Energy in a research report on Tuesday, January 29th. They set a “neutral” rating and a $80.00 target price for the company. Morgan Stanley set a $109.00 target price on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Finally, Imperial Capital restated an “outperform” rating and set a $83.00 target price (up previously from $79.00) on shares of Cimarex Energy in a research report on Friday, February 22nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. Cimarex Energy has an average rating of “Hold” and a consensus target price of $108.16.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings data on Wednesday, February 20th. The oil and gas producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.23. The firm had revenue of $624.10 million for the quarter, compared to the consensus estimate of $620.20 million. Cimarex Energy had a net margin of 33.85% and a return on equity of 23.51%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.47 earnings per share.
Several large investors have recently bought and sold shares of XEC. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Cimarex Energy during the fourth quarter worth approximately $26,000. First Bank & Trust acquired a new position in Cimarex Energy during the fourth quarter worth approximately $28,000. CSat Investment Advisory L.P. increased its position in Cimarex Energy by 77.7% during the fourth quarter. CSat Investment Advisory L.P. now owns 549 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 240 shares during the last quarter. Huntington National Bank increased its position in Cimarex Energy by 948.3% during the fourth quarter. Huntington National Bank now owns 629 shares of the oil and gas producer’s stock worth $39,000 after purchasing an additional 569 shares during the last quarter. Finally, Bremer Trust National Association acquired a new position in Cimarex Energy during the fourth quarter worth approximately $43,000. 94.21% of the stock is owned by institutional investors and hedge funds.
In other news, Director Harold R. Logan, Jr. sold 990 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $70.00, for a total value of $69,300.00. Following the completion of the transaction, the director now owns 7,259 shares of the company’s stock, valued at $508,130. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.70% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Tuesday, May 14th. This is a positive change from Cimarex Energy’s previous quarterly dividend of $0.18. Cimarex Energy’s payout ratio is currently 9.73%.
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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