Jefferies Group Comments on Cimarex Energy Co’s Q4 2017 Earnings (XEC)

Cimarex Energy Co (NYSE:XEC) – Equities research analysts at Jefferies Group boosted their Q4 2017 earnings per share estimates for shares of Cimarex Energy in a report released on Wednesday. Jefferies Group analyst M. Hsu now anticipates that the oil and gas producer will post earnings per share of $1.48 for the quarter, up from their prior estimate of $1.09. Jefferies Group has a “Hold” rating and a $117.00 price target on the stock. Jefferies Group also issued estimates for Cimarex Energy’s Q1 2018 earnings at $1.77 EPS, Q2 2018 earnings at $1.80 EPS, Q3 2018 earnings at $1.92 EPS, Q4 2018 earnings at $2.01 EPS, FY2018 earnings at $7.50 EPS and FY2019 earnings at $8.79 EPS.

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

Several other brokerages also recently weighed in on XEC. Stifel Nicolaus set a $168.00 target price on shares of Cimarex Energy and gave the company a “buy” rating in a report on Thursday, October 5th. Credit Suisse Group assumed coverage on shares of Cimarex Energy in a report on Monday, December 11th. They set an “outperform” rating and a $140.00 price objective on the stock. Morgan Stanley boosted their price objective on shares of Cimarex Energy from $138.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. UBS Group downgraded shares of Cimarex Energy from a “positive” rating to a “neutral” rating in a report on Monday, November 13th. Finally, Williams Capital lifted their target price on shares of Cimarex Energy from $132.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $136.71.

Cimarex Energy (NYSE XEC) opened at $119.95 on Monday. The company has a market cap of $11,426.54, a price-to-earnings ratio of 31.90 and a beta of 1.34. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 0.62. Cimarex Energy has a one year low of $89.49 and a one year high of $144.30.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.27%. The ex-dividend date is Wednesday, February 14th. Cimarex Energy’s payout ratio is 8.51%.

In related news, Director Lisa A. Stewart purchased 248 shares of Cimarex Energy stock in a transaction dated Friday, December 8th. The stock was acquired at an average cost of $112.06 per share, with a total value of $27,790.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director L Paul Teague sold 3,248 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $125.03, for a total transaction of $406,097.44. Following the completion of the sale, the director now directly owns 41,146 shares of the company’s stock, valued at $5,144,484.38. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,764 shares of company stock valued at $3,496,934. Corporate insiders own 1.70% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Advisor Group Inc. raised its position in Cimarex Energy by 5.3% during 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. Global X Management Co. LLC grew its stake in shares of Cimarex Energy by 14.7% in the second quarter. Global X Management Co. LLC now owns 1,265 shares of the oil and gas producer’s stock worth $119,000 after acquiring an additional 162 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Cimarex Energy in the third quarter worth $206,000. Pacer Advisors Inc. grew its stake in shares of Cimarex Energy by 8.3% in the second quarter. Pacer Advisors Inc. now owns 1,935 shares of the oil and gas producer’s stock worth $182,000 after acquiring an additional 148 shares during the last quarter. Finally, Cue Financial Group Inc. acquired a new stake in shares of Cimarex Energy in the third quarter worth $224,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: “Jefferies Group Comments on Cimarex Energy Co’s Q4 2017 Earnings (XEC)” was originally published by Community Financial News and is owned by of Community Financial News. If you are accessing this story on another domain, it was stolen and reposted in violation of US and international trademark & copyright laws. The original version of this story can be read at https://www.com-unik.info/2017/12/26/jefferies-group-comments-on-cimarex-energy-cos-q4-2017-earnings-xec-2.html.

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 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.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit