KeyCorp Weighs in on Cimarex Energy Co’s Q1 2018 Earnings (XEC)
Cimarex Energy Co (NYSE:XEC) – Equities researchers at KeyCorp upped their Q1 2018 EPS estimates for Cimarex Energy in a research report issued on Tuesday. KeyCorp analyst D. Deckelbaum now anticipates that the oil and gas producer will post earnings per share of $1.69 for the quarter, up from their previous forecast of $1.02. KeyCorp has a “Buy” rating on the stock. KeyCorp also issued estimates for Cimarex Energy’s Q2 2018 earnings at $1.67 EPS, Q3 2018 earnings at $1.70 EPS, Q4 2018 earnings at $2.00 EPS, FY2018 earnings at $7.06 EPS, Q1 2019 earnings at $2.04 EPS, Q2 2019 earnings at $2.13 EPS, Q3 2019 earnings at $2.37 EPS and FY2019 earnings at $9.04 EPS.
XEC has been the subject of a number of other research reports. Jefferies Group set a $115.00 price objective on shares of Cimarex Energy and gave the stock a “hold” rating in a research report on Thursday, November 16th. Capital One Financial restated an “overweight” rating on shares of Cimarex Energy in a research report on Wednesday, November 8th. Scotiabank set a $143.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Saturday, November 25th. Imperial Capital began coverage on shares of Cimarex Energy in a research report on Tuesday, September 19th. They set an “outperform” rating and a $135.00 price target for the company. Finally, Barclays upped their price target on shares of Cimarex Energy from $117.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $136.60.
Cimarex Energy (NYSE XEC) opened at $112.33 on Friday. The firm has a market cap of $10,769.24, a PE ratio of 29.75 and a beta of 1.34. Cimarex Energy has a 1 year low of $89.49 and a 1 year high of $144.30. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.51 and a quick ratio of 1.42.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings data on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.12. The business had revenue of $463.68 million during the quarter, compared to the consensus estimate of $451.53 million. Cimarex Energy had a net margin of 20.45% and a return on equity of 16.11%. The company’s revenue was up 38.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 earnings per share.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.32 annualized dividend and a yield of 0.28%. Cimarex Energy’s dividend payout ratio is presently 8.51%.
In related news, VP Stephen P. Bell sold 3,696 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $125.11, for a total transaction of $462,406.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lisa A. Stewart acquired 248 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The shares were acquired 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. In the last ninety days, insiders have sold 29,764 shares of company stock valued at $3,496,934. 1.70% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Parametric Portfolio Associates LLC boosted its position in shares of Cimarex Energy by 37.9% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 258,902 shares of the oil and gas producer’s stock worth $29,429,000 after purchasing an additional 71,140 shares during the period. Optimum Investment Advisors purchased a new position in shares of Cimarex Energy during the 3rd quarter worth approximately $281,000. Belpointe Asset Management LLC purchased a new position in shares of Cimarex Energy during the 3rd quarter worth approximately $311,000. IFM Investors Pty Ltd purchased a new position in shares of Cimarex Energy during the 3rd quarter worth approximately $330,000. Finally, Sterling Capital Management LLC boosted its position in shares of Cimarex Energy by 48.0% during the 3rd quarter. Sterling Capital Management LLC now owns 3,700 shares of the oil and gas producer’s stock worth $421,000 after purchasing an additional 1,200 shares during the period. 92.35% of the stock is owned by institutional investors and hedge funds.
About Cimarex Energy
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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