Cimarex Energy Co (NYSE:XEC) – Investment analysts at US Capital Advisors lowered their FY2019 earnings per share (EPS) estimates for Cimarex Energy in a note issued to investors on Thursday, January 9th. US Capital Advisors analyst C. Horwitz now expects that the oil and gas producer will post earnings per share of $4.04 for the year, down from their prior estimate of $4.15. US Capital Advisors also issued estimates for Cimarex Energy’s Q4 2019 earnings at $1.11 EPS, Q1 2020 earnings at $1.55 EPS, Q2 2020 earnings at $1.66 EPS, Q3 2020 earnings at $1.66 EPS, Q4 2020 earnings at $1.65 EPS, FY2020 earnings at $6.52 EPS, Q1 2021 earnings at $1.84 EPS, Q2 2021 earnings at $1.66 EPS, Q3 2021 earnings at $1.66 EPS and Q4 2021 earnings at $1.71 EPS.
XEC has been the subject of several other research reports. JPMorgan Chase & Co. upgraded Cimarex Energy from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $62.00 to $70.00 in a report on Thursday. Barclays decreased their price target on Cimarex Energy from $81.00 to $63.00 and set an “equal weight” rating for the company in a report on Friday, December 6th. ValuEngine upgraded Cimarex Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Williams Capital reiterated a “buy” rating and set a $64.00 price target on shares of Cimarex Energy in a report on Tuesday, November 5th. Finally, Morgan Stanley upped their price target on Cimarex Energy from $58.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $67.31.
Shares of Cimarex Energy stock opened at $54.45 on Friday. The stock has a fifty day simple moving average of $49.66 and a 200 day simple moving average of $47.79. Cimarex Energy has a 12-month low of $37.19 and a 12-month high of $77.10. The company has a market capitalization of $5.61 billion, a P/E ratio of 7.36 and a beta of 1.41. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.56.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.91 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.02). Cimarex Energy had a return on equity of 13.02% and a net margin of 21.13%. The company had revenue of $582.31 million for the quarter, compared to the consensus estimate of $575.31 million. During the same quarter last year, the company posted $1.99 EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.20 dividend. The ex-dividend date is Thursday, February 13th. This represents a $0.80 dividend on an annualized basis and a yield of 1.47%. Cimarex Energy’s dividend payout ratio (DPR) is presently 10.81%.
In other Cimarex Energy news, COO Joseph R. Albi sold 2,500 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $55.00, for a total value of $137,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Stephen P. Bell sold 9,067 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $47.84, for a total value of $433,765.28. Insiders sold a total of 14,067 shares of company stock valued at $690,865 in the last 90 days. Corporate insiders own 1.70% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Accurate Investment Solutions Inc. bought a new position in Cimarex Energy in the 4th quarter valued at $104,000. Bright Rock Capital Management LLC lifted its position in shares of Cimarex Energy by 20.8% during the 4th quarter. Bright Rock Capital Management LLC now owns 14,500 shares of the oil and gas producer’s stock valued at $761,000 after buying an additional 2,500 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Cimarex Energy during the 3rd quarter valued at $1,798,000. Voloridge Investment Management LLC purchased a new position in shares of Cimarex Energy during the 3rd quarter valued at $596,000. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Cimarex Energy by 1.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 34,423 shares of the oil and gas producer’s stock valued at $1,650,000 after buying an additional 430 shares during the last quarter. Hedge funds and other institutional investors own 97.80% of the company’s stock.
Cimarex Energy Company Profile
Cimarex Energy Co operates as an independent oil and gas exploration and production company primarily in Oklahoma, Texas, and New Mexico. As of December 31, 2018, it had a total proved reserves of 591.2 million barrels of oil equivalent, consisting of 1.59 trillion cubic feet of natural gas; 146.5 million barrels (MMBbls) of oil; and 179.4 MMBbls of natural gas liquids primarily located in the Permian Basin and Mid-Continent regions.
