Cimarex Energy Co (NYSE:XEC) – Research analysts at US Capital Advisors lifted their Q4 2019 earnings per share (EPS) estimates for Cimarex Energy in a research report issued on Monday, April 22nd. US Capital Advisors analyst C. Horwitz now forecasts that the oil and gas producer will earn $1.95 per share for the quarter, up from their previous forecast of $1.69. US Capital Advisors also issued estimates for Cimarex Energy’s Q1 2020 earnings at $2.16 EPS, Q2 2020 earnings at $2.08 EPS, Q3 2020 earnings at $2.04 EPS, Q4 2020 earnings at $2.06 EPS, FY2020 earnings at $8.34 EPS and Q1 2021 earnings at $2.18 EPS.
XEC has been the topic of a number of other reports. Susquehanna Bancshares cut Cimarex Energy from a “positive” rating to a “neutral” rating in a research note on Monday, February 11th. Capital One Financial cut Cimarex Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 20th. Evercore ISI cut Cimarex Energy from an “outperform” rating to an “in-line” rating in a research note on Tuesday, March 12th. Imperial Capital restated an “outperform” rating and issued a $83.00 price objective (up from $79.00) on shares of Cimarex Energy in a research note on Friday, February 22nd. Finally, Mizuho began coverage on Cimarex Energy in a research note on Tuesday, January 29th. They issued a “neutral” rating and a $80.00 price objective on the stock. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $107.16.
Cimarex Energy (NYSE:XEC) last released its earnings results on Wednesday, February 20th. The oil and gas producer reported $1.98 EPS for the quarter, topping the Zacks’ consensus estimate of $1.75 by $0.23. Cimarex Energy had a return on equity of 23.51% and a net margin of 33.85%. The company had revenue of $624.10 million for the quarter, compared to analysts’ expectations of $620.20 million. During the same period in the previous year, the business posted $1.47 EPS. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This is a boost from Cimarex Energy’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 1.12%. Cimarex Energy’s dividend payout ratio is currently 9.73%.
In other news, Director Harold R. Logan, Jr. sold 990 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $70.00, for a total transaction of $69,300.00. Following the sale, the director now directly owns 7,259 shares in the company, valued at $508,130. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.70% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Cimarex Energy during the fourth quarter worth about $26,000. First Bank & Trust purchased a new position in shares of Cimarex Energy during the fourth quarter worth about $28,000. CSat Investment Advisory L.P. grew its holdings in shares of Cimarex Energy by 77.7% during the fourth quarter. CSat Investment Advisory L.P. now owns 549 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 240 shares in the last quarter. Huntington National Bank grew its holdings in shares of Cimarex Energy by 948.3% during the fourth quarter. Huntington National Bank now owns 629 shares of the oil and gas producer’s stock worth $39,000 after purchasing an additional 569 shares in the last quarter. Finally, Bremer Trust National Association purchased a new position in shares of Cimarex Energy during the fourth quarter worth about $43,000. 94.21% of the stock is owned by institutional investors.
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.
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