Research Analysts Set Expectations for Cimarex Energy Co’s Q3 2017 Earnings (NYSE:XEC)
Cimarex Energy Co (NYSE:XEC) – Investment analysts at Capital One Financial Corporation cut their Q3 2017 earnings per share (EPS) estimates for shares of Cimarex Energy in a research note issued on Thursday. Capital One Financial Corporation analyst R. Tullis now forecasts that the oil and gas producer will post earnings per share of $0.88 for the quarter, down from their previous forecast of $0.92. Capital One Financial Corporation also issued estimates for Cimarex Energy’s Q4 2017 earnings at $0.94 EPS and FY2018 earnings at $4.22 EPS.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 EPS for the quarter, topping 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 analyst estimates of $441.52 million. During the same period last year, the business posted $0.07 earnings per share. The company’s quarterly revenue was up 52.7% on a year-over-year basis.
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Several other analysts have also recently issued reports on XEC. UBS AG reissued a “neutral” rating and set a $134.00 price objective (up from $131.00) on shares of Cimarex Energy in a research note on Friday, May 12th. Scotiabank set a $143.00 price objective on shares of Cimarex Energy and gave the company a “buy” rating in a research note on Saturday, July 1st. BidaskClub raised shares of Cimarex Energy from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Williams Capital set a $136.00 price objective on shares of Cimarex Energy and gave the company a “buy” rating in a research note on Wednesday. Finally, Morgan Stanley boosted their price objective on shares of Cimarex Energy from $135.00 to $138.00 and gave the company an “overweight” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $136.95.
Cimarex Energy (NYSE XEC) opened at 97.78 on Friday. 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 price-to-earnings ratio of 34.81 and a beta of 1.32. The stock’s 50 day moving average price is $94.88 and its 200 day moving average price is $113.13.
Several large investors have recently modified their holdings of the stock. Tricadia Capital Management LLC bought a new stake in shares of Cimarex Energy during the second quarter worth about $688,000. BlueMountain Capital Management LLC raised its stake in shares of Cimarex Energy by 161.1% in the second quarter. BlueMountain Capital Management LLC now owns 19,325 shares of the oil and gas producer’s stock worth $1,817,000 after buying an additional 11,924 shares during the period. Amalgamated Bank raised its stake in shares of Cimarex Energy by 74.2% in the second quarter. Amalgamated Bank now owns 10,277 shares of the oil and gas producer’s stock worth $966,000 after buying an additional 4,377 shares during the period. BlackRock Inc. raised its stake in shares of Cimarex Energy by 5.2% in the second quarter. BlackRock Inc. now owns 7,512,811 shares of the oil and gas producer’s stock worth $706,278,000 after buying an additional 371,390 shares during the period. Finally, Nationwide Fund Advisors raised its stake in shares of Cimarex Energy by 14.7% in the second quarter. Nationwide Fund Advisors now owns 73,015 shares of the oil and gas producer’s stock worth $6,864,000 after buying an additional 9,339 shares during the period. Institutional investors and hedge funds own 93.07% of the company’s stock.
In other news, CEO Thomas E. Jorden sold 2,500 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $116.40, for a total value of $291,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director L Paul Teague sold 1,038 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $120.00, for a total transaction of $124,560.00. Following the completion of the sale, the director now owns 44,394 shares in the company, valued at approximately $5,327,280. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,538 shares of company stock worth $1,001,760. Company 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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