Cimarex Energy Co (NYSE:XEC) – Equities research analysts at Jefferies Group cut their Q3 2017 earnings per share (EPS) estimates for Cimarex Energy in a report released on Tuesday. Jefferies Group analyst M. Hsu now forecasts that the oil and gas producer will post earnings of $0.87 per share for the quarter, down from their prior forecast of $1.11. Jefferies Group has a “Hold” rating and a $98.00 price objective on the stock. Jefferies Group also issued estimates for Cimarex Energy’s Q2 2018 earnings at $1.18 EPS, Q4 2018 earnings at $1.45 EPS and FY2018 earnings at $5.13 EPS.

Cimarex Energy (NYSE:XEC) last announced its earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 EPS for the quarter, beating the consensus estimate of $0.95 by $0.11. Cimarex Energy had a return on equity of 13.29% and a net margin of 15.64%. The business had revenue of $456.50 million during the quarter, compared to the consensus estimate of $441.52 million. During the same period in the prior year, the business posted $0.07 earnings per share. Cimarex Energy’s revenue was up 52.7% compared to the same quarter last year. WARNING: “Cimarex Energy Co (XEC) Forecasted to Earn Q3 2017 Earnings of $0.87 Per Share” was posted by Watch List News and is the property of of Watch List News. If you are reading this story on another publication, it was illegally copied and republished in violation of U.S. and international copyright and trademark laws. The original version of this story can be viewed at https://www.watchlistnews.com/cimarex-energy-co-xec-forecasted-to-earn-q3-2017-earnings-of-0-87-per-share/1537161.html.

Several other equities analysts have also recently commented on the stock. KLR Group reissued a “buy” rating and set a $151.00 target price (up previously from $149.00) on shares of Cimarex Energy in a research report on Wednesday, May 17th. Barclays PLC reissued an “overweight” rating and set a $135.00 target price (up previously from $129.00) on shares of Cimarex Energy in a research report on Monday, May 15th. Stifel Nicolaus reissued a “buy” rating on shares of Cimarex Energy in a research report on Wednesday, June 28th. BMO Capital Markets set a $150.00 target price on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Monday, May 15th. Finally, Citigroup Inc. dropped their target price on shares of Cimarex Energy from $150.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company’s stock. Cimarex Energy has a consensus rating of “Buy” and a consensus price target of $136.40.

Shares of Cimarex Energy (XEC) opened at 101.45 on Thursday. Cimarex Energy has a one year low of $89.49 and a one year high of $146.96. The stock’s 50 day moving average price is $97.17 and its 200 day moving average price is $109.04. The stock has a market capitalization of $9.48 billion, a P/E ratio of 36.34 and a beta of 1.32.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.32%. Cimarex Energy’s dividend payout ratio is 12.03%.

In related news, SVP John Lambuth sold 2,136 shares of Cimarex Energy stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $99.84, for a total value of $213,258.24. Following the completion of the transaction, the senior vice president now directly owns 106,532 shares in the company, valued at approximately $10,636,154.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joseph R. Albi sold 2,750 shares of Cimarex Energy stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $99.02, for a total transaction of $272,305.00. The disclosure for this sale can be found here. Insiders sold a total of 7,386 shares of company stock valued at $739,738 over the last quarter. 1.70% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Toronto Dominion Bank increased its position in shares of Cimarex Energy by 25.5% in the second quarter. Toronto Dominion Bank now owns 32,218 shares of the oil and gas producer’s stock valued at $3,028,000 after buying an additional 6,551 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Cimarex Energy by 4.2% in the second quarter. Public Employees Retirement System of Ohio now owns 54,070 shares of the oil and gas producer’s stock valued at $5,083,000 after buying an additional 2,202 shares during the last quarter. Colony Group LLC increased its position in shares of Cimarex Energy by 7.1% in the second quarter. Colony Group LLC now owns 15,977 shares of the oil and gas producer’s stock valued at $1,502,000 after buying an additional 1,058 shares during the last quarter. Verition Fund Management LLC increased its position in shares of Cimarex Energy by 4.6% in the second quarter. Verition Fund Management LLC now owns 7,949 shares of the oil and gas producer’s stock valued at $747,000 after buying an additional 349 shares during the last quarter. Finally, Kingfisher Capital LLC increased its position in shares of Cimarex Energy by 3.1% in the second quarter. Kingfisher Capital LLC now owns 11,778 shares of the oil and gas producer’s stock valued at $1,107,000 after buying an additional 350 shares during the last quarter. 91.30% of the stock is owned by hedge funds and other institutional investors.

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.

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

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