Cimarex Energy Co Forecasted to Earn Q3 2017 Earnings of $0.97 Per Share (NYSE:XEC)
Cimarex Energy Co (NYSE:XEC) – SunTrust Banks reduced their Q3 2017 earnings estimates for shares of Cimarex Energy in a research report issued to clients and investors on Thursday. SunTrust Banks analyst N. Dingmann now forecasts that the oil and gas producer will earn $0.97 per share for the quarter, down from their prior estimate of $1.09. SunTrust Banks also issued estimates for Cimarex Energy’s Q4 2017 earnings at $1.11 EPS and FY2017 earnings at $4.19 EPS.
Other research analysts have also issued research reports about the stock. BMO Capital Markets set a $150.00 price objective on shares of Cimarex Energy and gave the company a “buy” rating in a research note on Monday, May 15th. Williams Capital upgraded shares of Cimarex Energy from a “hold” rating to a “buy” rating and increased their price target for the stock from $148.00 to $160.00 in a research note on Monday, May 15th. They noted that the move was a valuation call. KLR Group restated a “buy” rating and set a $151.00 price target (up previously from $149.00) on shares of Cimarex Energy in a research note on Wednesday, May 17th. Citigroup Inc. restated a “buy” rating and set a $166.00 price target (up previously from $164.00) on shares of Cimarex Energy in a research note on Saturday, April 22nd. Finally, FBR & Co set a $141.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a research note on Thursday, May 18th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company’s stock. Cimarex Energy presently has an average rating of “Hold” and a consensus target price of $136.95.
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Shares of Cimarex Energy (XEC) opened at 97.78 on Friday. The stock’s 50 day moving average is $94.88 and its 200 day moving average is $113.13. Cimarex Energy has a 52 week low of $89.49 and a 52 week high of $146.96. The stock has a market capitalization of $9.32 billion, a PE ratio of 34.81 and a beta of 1.32.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.11. Cimarex Energy had a net margin of 15.64% and a return on equity of 13.29%. The company had revenue of $456.50 million during the quarter, compared to analysts’ expectations of $441.52 million. During the same period in the previous year, the company earned $0.07 EPS. The business’s quarterly revenue was up 52.7% compared to the same quarter last year.
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of Cimarex Energy by 3,127.3% in the first quarter. BlackRock Inc. now owns 7,141,421 shares of the oil and gas producer’s stock worth $853,329,000 after buying an additional 6,920,140 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of Cimarex Energy by 2.7% in the first quarter. Public Employees Retirement System of Ohio now owns 51,868 shares of the oil and gas producer’s stock worth $6,198,000 after buying an additional 1,350 shares during the period. Princeton Alpha Management LP bought a new stake in shares of Cimarex Energy during the first quarter worth $361,000. Howland Capital Management LLC increased its position in Cimarex Energy by 33.9% in the first quarter. Howland Capital Management LLC now owns 120,527 shares of the oil and gas producer’s stock worth $14,402,000 after buying an additional 30,497 shares during the last quarter. Finally, Laurion Capital Management LP acquired a new position in Cimarex Energy during the first quarter worth approximately $299,000. 93.07% of the stock is owned by hedge funds and other institutional investors.
In other Cimarex Energy news, Director L Paul Teague sold 1,038 shares of the stock in a transaction on Monday, May 15th. The shares were sold at an average price of $120.00, for a total value of $124,560.00. Following the completion of the sale, the director now directly owns 44,394 shares of the company’s stock, valued at approximately $5,327,280. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Stephen P. Bell sold 5,000 shares of the stock in a transaction on Friday, May 19th. The shares were sold at an average price of $117.24, for a total transaction of $586,200.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,538 shares of company stock valued at $1,001,760. Insiders own 1.70% of the company’s stock.
Cimarex Energy Company Profile
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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