SunTrust Banks Equities Analysts Boost Earnings Estimates for Cimarex Energy Co (XEC)
Cimarex Energy Co (NYSE:XEC) – Equities research analysts at SunTrust Banks boosted their FY2017 earnings per share estimates for Cimarex Energy in a research report issued to clients and investors on Thursday. SunTrust Banks analyst N. Dingmann now expects that the oil and gas producer will post earnings of $4.32 per share for the year, up from their prior forecast of $4.19. SunTrust Banks currently has a “Hold” rating and a $127.00 price target on the stock. SunTrust Banks also issued estimates for Cimarex Energy’s Q4 2017 earnings at $1.13 EPS, FY2019 earnings at $7.63 EPS and FY2020 earnings at $9.99 EPS.
Cimarex Energy (NYSE:XEC) last announced its earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm’s quarterly revenue was up 38.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 earnings per share. TRADEMARK VIOLATION NOTICE: “SunTrust Banks Equities Analysts Boost Earnings Estimates for Cimarex Energy Co (XEC)” was reported by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another publication, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The legal version of this piece can be read at https://www.watchlistnews.com/suntrust-banks-equities-analysts-boost-earnings-estimates-for-cimarex-energy-co-xec/1703621.html.
A number of other brokerages have also recently issued reports on XEC. KeyCorp restated a “buy” rating on shares of Cimarex Energy in a research report on Wednesday, November 8th. Capital One Financial Corporation reissued an “overweight” rating on shares of Cimarex Energy in a research report on Wednesday, November 8th. UBS AG lowered shares of Cimarex Energy from a “positive” rating to a “neutral” rating in a research report on Monday. Susquehanna Bancshares Inc lowered shares of Cimarex Energy from a “positive” rating to a “neutral” rating in a research report on Monday. Finally, Imperial Capital boosted their price objective on shares of Cimarex Energy from $135.00 to $141.00 and gave the company an “outperform” rating in a research report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Cimarex Energy has a consensus rating of “Buy” and an average target price of $135.81.
Cimarex Energy (XEC) opened at $117.52 on Monday. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.62. The stock has a market cap of $11,912.38, a PE ratio of 32.91 and a beta of 1.35. Cimarex Energy has a 52-week low of $89.49 and a 52-week high of $146.96.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue raised its holdings in Cimarex Energy by 0.7% in the second quarter. State of Alaska Department of Revenue now owns 1,427 shares of the oil and gas producer’s stock valued at $134,000 after acquiring an additional 10 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Cimarex Energy by 0.4% in the second quarter. Fisher Asset Management LLC now owns 3,013 shares of the oil and gas producer’s stock valued at $283,000 after acquiring an additional 13 shares in the last quarter. ING Groep NV raised its holdings in Cimarex Energy by 0.3% in the second quarter. ING Groep NV now owns 4,878 shares of the oil and gas producer’s stock valued at $459,000 after acquiring an additional 17 shares in the last quarter. Advisor Group Inc. raised its holdings in Cimarex Energy by 5.3% in the second quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock valued at $113,000 after acquiring an additional 60 shares in the last quarter. Finally, Virtu KCG Holdings LLC raised its holdings in shares of Cimarex Energy by 0.6% during the second quarter. Virtu KCG Holdings LLC now owns 15,740 shares of the oil and gas producer’s stock worth $1,480,000 after purchasing an additional 96 shares during the period. 91.05% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Thomas E. Jorden sold 2,500 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $125.10, for a total value of $312,750.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Stephen P. Bell sold 3,696 shares of the company’s 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 26,107 shares of company stock worth $2,918,092. Corporate insiders own 1.70% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. Cimarex Energy’s payout ratio is currently 8.51%.
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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