Cimarex Energy Co to Post FY2017 Earnings of $4.61 Per Share, KeyCorp Forecasts (XEC)
Cimarex Energy Co (NYSE:XEC) – KeyCorp lifted their FY2017 earnings per share (EPS) estimates for Cimarex Energy in a research note issued to investors on Tuesday. KeyCorp analyst D. Deckelbaum now forecasts that the oil and gas producer will post earnings of $4.61 per share for the year, up from their previous estimate of $4.44. KeyCorp has a “Buy” rating on the stock. KeyCorp also issued estimates for Cimarex Energy’s Q4 2017 earnings at $1.42 EPS.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.12. The company had revenue of $463.68 million during the quarter, compared to analysts’ expectations of $451.53 million. Cimarex Energy had a net margin of 20.45% and a return on equity of 16.11%. The business’s quarterly revenue was up 38.1% on a year-over-year basis. During the same period last year, the business earned $0.53 EPS.
Several other brokerages have also recently weighed in on XEC. Stifel Nicolaus set a $168.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a research note on Thursday, October 5th. BidaskClub raised shares of Cimarex Energy from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 24th. Credit Suisse Group initiated coverage on shares of Cimarex Energy in a research note on Monday. They set an “outperform” rating and a $140.00 price target for the company. Morgan Stanley raised their price target on shares of Cimarex Energy from $138.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 18th. Finally, UBS cut shares of Cimarex Energy from a “positive” rating to a “neutral” rating in a research note on Monday, November 13th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $136.60.
Cimarex Energy (NYSE XEC) opened at $113.28 on Thursday. The firm has a market cap of $10,737.81, a P/E ratio of 29.66 and a beta of 1.34. Cimarex Energy has a 52 week low of $89.49 and a 52 week high of $144.30. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.42 and a current ratio of 1.51.
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 $0.08 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.28%. Cimarex Energy’s dividend payout ratio is presently 8.51%.
In other Cimarex Energy news, VP Stephen P. Bell sold 3,696 shares of Cimarex Energy stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $125.11, for a total transaction of $462,406.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lisa A. Stewart acquired 248 shares of Cimarex Energy stock in a transaction on Friday, December 8th. The shares were bought at an average cost of $112.06 per share, with a total value of $27,790.88. The disclosure for this purchase can be found here. Insiders sold 25,677 shares of company stock valued at $2,988,357 over the last three months. 1.70% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Trust Co. of Vermont boosted its position in Cimarex Energy by 6.9% during the third quarter. Trust Co. of Vermont now owns 26,240 shares of the oil and gas producer’s stock worth $2,983,000 after purchasing an additional 1,692 shares during the period. Elliott Management Corp bought a new position in Cimarex Energy during the second quarter worth $288,000. South Dakota Investment Council acquired a new stake in shares of Cimarex Energy during the second quarter worth $11,439,000. Calamos Advisors LLC lifted its holdings in shares of Cimarex Energy by 37.0% during the second quarter. Calamos Advisors LLC now owns 25,006 shares of the oil and gas producer’s stock worth $2,351,000 after buying an additional 6,757 shares in the last quarter. Finally, Advisor Partners LLC acquired a new stake in shares of Cimarex Energy during the third quarter worth $269,000. 92.35% of the stock is owned by hedge funds and other institutional investors.
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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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