Jefferies Group Comments on Cimarex Energy Co’s FY2017 Earnings (XEC)

Cimarex Energy Co (NYSE:XEC) – Stock analysts at Jefferies Group lifted their FY2017 earnings per share (EPS) estimates for shares of Cimarex Energy in a research note issued to investors on Thursday. Jefferies Group analyst M. Hsu now anticipates that the oil and gas producer will earn $4.28 per share for the year, up from their prior estimate of $3.99. Jefferies Group currently has a “Hold” rating and a $115.00 target price on the stock. Jefferies Group also issued estimates for Cimarex Energy’s Q4 2017 earnings at $1.09 EPS, Q1 2018 earnings at $1.31 EPS, Q2 2018 earnings at $1.41 EPS, Q4 2018 earnings at $1.70 EPS, FY2018 earnings at $6.02 EPS, Q1 2019 earnings at $1.86 EPS, Q2 2019 earnings at $1.95 EPS, Q3 2019 earnings at $2.07 EPS and FY2019 earnings at $8.06 EPS.

Cimarex Energy (NYSE:XEC) last announced its quarterly earnings data on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.12. Cimarex Energy had a net margin of 20.45% and a return on equity of 16.11%. The business had revenue of $463.68 million during the quarter, compared to analyst estimates of $451.53 million. During the same period last year, the firm posted $0.53 EPS. The company’s revenue was up 38.1% on a year-over-year basis.

WARNING: This story was originally posted by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this story on another domain, it was illegally stolen and republished in violation of United States and international trademark & copyright law. The correct version of this story can be viewed at https://stocknewstimes.com/2017/11/20/jefferies-group-comments-on-cimarex-energy-cos-fy2017-earnings-xec.html.

Other equities research analysts have also issued reports about the stock. Barclays PLC increased their price objective on shares of Cimarex Energy from $112.00 to $117.00 and gave the company an “overweight” rating in a report on Tuesday, August 15th. BidaskClub downgraded Cimarex Energy from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Stifel Nicolaus set a $169.00 target price on Cimarex Energy and gave the company a “buy” rating in a research report on Wednesday, August 16th. Piper Jaffray Companies lowered their target price on Cimarex Energy from $141.00 to $116.00 and set a “neutral” rating for the company in a research report on Monday, September 18th. Finally, KeyCorp reiterated a “buy” rating and set a $130.00 target price on shares of Cimarex Energy in a research report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company’s stock. Cimarex Energy has an average rating of “Buy” and a consensus target price of $136.62.

Shares of Cimarex Energy (XEC) opened at $116.57 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. Cimarex Energy has a fifty-two week low of $89.49 and a fifty-two week high of $146.96. The stock has a market cap of $11,104.56, a P/E ratio of 30.68 and a beta of 1.35.

Several large investors have recently added to or reduced their stakes in the company. Belpointe Asset Management LLC bought a new stake in shares of Cimarex Energy during the third quarter worth $311,000. IFM Investors Pty Ltd purchased a new position in shares of Cimarex Energy during the third quarter valued at $330,000. Sterling Capital Management LLC increased its stake in shares of Cimarex Energy by 48.0% during the third quarter. Sterling Capital Management LLC now owns 3,700 shares of the oil and gas producer’s stock valued at $421,000 after buying an additional 1,200 shares during the period. Colony Group LLC increased its stake in shares of Cimarex Energy by 38.7% during the third quarter. Colony Group LLC now owns 22,154 shares of the oil and gas producer’s stock valued at $2,518,000 after buying an additional 6,177 shares during the period. Finally, Piedmont Investment Advisors LLC purchased a new position in shares of Cimarex Energy during the third quarter valued at $250,000. Institutional investors and hedge funds own 93.44% of the company’s stock.

In other news, VP Krista L. Johnson sold 5,341 shares of Cimarex Energy stock in a transaction on Wednesday, November 15th. The stock was 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 in the company, valued at $5,000,559.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Harold R. Logan, Jr. sold 913 shares of Cimarex Energy stock in a transaction on Friday, September 15th. The stock was sold at an average price of $105.83, for a total value of $96,622.79. Following the sale, the director now owns 9,299 shares of the company’s stock, valued at $984,113.17. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,448 shares of company stock valued at $3,540,105. Corporate insiders own 1.70% of the company’s stock.

The firm 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 is Tuesday, November 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.27%. Cimarex Energy’s dividend payout ratio (DPR) is 8.51%.

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)

Receive News & Ratings for Cimarex Energy Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cimarex Energy Co and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply