SunTrust Banks Equities Analysts Increase Earnings Estimates for Cimarex Energy Co (XEC)
Cimarex Energy Co (NYSE:XEC) – Research analysts at SunTrust Banks boosted their FY2018 earnings per share (EPS) estimates for Cimarex Energy in a report issued on Tuesday. SunTrust Banks analyst N. Dingmann now anticipates that the oil and gas producer will post earnings per share of $7.23 for the year, up from their previous estimate of $5.91. SunTrust Banks has a “Buy” rating and a $140.00 price objective on the stock. SunTrust Banks also issued estimates for Cimarex Energy’s FY2019 earnings at $8.83 EPS and FY2020 earnings at $11.20 EPS.
A number of other research firms also recently commented on XEC. Piper Jaffray Companies reiterated a “hold” rating and issued a $138.00 price target on shares of Cimarex Energy in a research note on Tuesday, January 9th. KLR Group cut shares of Cimarex Energy from a “buy” rating to a “hold” rating and set a $138.00 price target on the stock. in a report on Tuesday, January 23rd. Credit Suisse Group set a $152.00 price target on shares of Cimarex Energy and gave the company a “buy” rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. KeyCorp restated a “buy” rating on shares of Cimarex Energy in a report on Wednesday, November 8th. Finally, Capital One Financial restated an “overweight” rating on shares of Cimarex Energy in a report on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the company’s stock. Cimarex Energy presently has an average rating of “Buy” and a consensus price target of $141.38.
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 $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend is Wednesday, February 14th. Cimarex Energy’s payout ratio is presently 8.51%.
In related news, SVP Francis Brian Barron sold 3,000 shares of Cimarex Energy stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $112.59, for a total value of $337,770.00. Following the completion of the sale, the senior vice president now owns 87,723 shares of the company’s stock, valued at approximately $9,876,732.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Krista L. Johnson sold 5,341 shares of Cimarex Energy stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $116.46, for a total transaction of $622,012.86. Following the completion of the sale, the vice president now directly owns 42,938 shares of the company’s stock, valued at approximately $5,000,559.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,820 shares of company stock valued at $2,622,880. 1.70% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in XEC. Advisor Group Inc. lifted its stake in shares of Cimarex Energy by 5.3% in the 2nd quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock valued at $113,000 after purchasing an additional 60 shares during the last quarter. LMR Partners LLP bought a new stake in Cimarex Energy during the 4th quarter worth approximately $200,000. Eagle Ridge Investment Management bought a new stake in Cimarex Energy during the 4th quarter worth approximately $204,000. Capital Advisors Inc. OK bought a new stake in Cimarex Energy during the 4th quarter worth approximately $205,000. Finally, Meeder Asset Management Inc. bought a new stake in Cimarex Energy during the 3rd quarter worth approximately $206,000. 92.34% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION WARNING: This piece of content was reported by Watch List News and is the property of of Watch List News. If you are reading this piece of content on another publication, it was stolen and republished in violation of U.S. and international trademark and copyright laws. The correct version of this piece of content can be viewed at https://www.watchlistnews.com/suntrust-banks-equities-analysts-increase-earnings-estimates-for-cimarex-energy-co-xec/1852721.html.
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.
Receive News & Ratings for Cimarex Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cimarex Energy and related companies with MarketBeat.com's FREE daily email newsletter.