Cimarex Energy Co (NYSE:XEC) – Investment analysts at US Capital Advisors lifted their Q3 2019 earnings per share (EPS) estimates for shares of Cimarex Energy in a note issued to investors on Thursday, August 29th. US Capital Advisors analyst C. Horwitz now expects that the oil and gas producer will post earnings of $0.87 per share for the quarter, up from their previous forecast of $0.75. US Capital Advisors also issued estimates for Cimarex Energy’s Q4 2019 earnings at $0.81 EPS, FY2019 earnings at $3.70 EPS, Q1 2020 earnings at $1.30 EPS, Q2 2020 earnings at $1.19 EPS, Q3 2020 earnings at $1.20 EPS, Q4 2020 earnings at $1.23 EPS, FY2020 earnings at $4.92 EPS, Q1 2021 earnings at $1.39 EPS, Q2 2021 earnings at $1.29 EPS and FY2021 earnings at $5.39 EPS.
Cimarex Energy (NYSE:XEC) last released its earnings results on Monday, August 5th. The oil and gas producer reported $0.82 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by ($0.38). Cimarex Energy had a return on equity of 16.59% and a net margin of 25.66%. The company had revenue of $546.46 million for the quarter, compared to analyst estimates of $594.90 million. During the same period in the previous year, the firm earned $1.59 earnings per share. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year.
A number of other brokerages also recently issued reports on XEC. KeyCorp initiated coverage on Cimarex Energy in a report on Thursday, June 27th. They set an “overweight” rating and a $66.00 price target for the company. Capital One Financial raised Cimarex Energy from an “equal weight” rating to an “overweight” rating in a report on Thursday, May 23rd. SunTrust Banks set a $60.00 price target on Cimarex Energy and gave the stock a “buy” rating in a report on Wednesday, August 7th. Robert W. Baird reaffirmed an “outperform” rating and set a $82.00 price target (down from $110.00) on shares of Cimarex Energy in a report on Wednesday, June 5th. Finally, Citigroup decreased their price target on Cimarex Energy from $90.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $77.39.
Shares of NYSE XEC opened at $42.78 on Monday. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of 5.78 and a beta of 1.30. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.64 and a quick ratio of 0.57. The business has a 50-day moving average of $45.26 and a two-hundred day moving average of $60.89. Cimarex Energy has a 1 year low of $37.19 and a 1 year high of $101.19.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. World Asset Management Inc raised its stake in Cimarex Energy by 3.2% during the 1st quarter. World Asset Management Inc now owns 5,457 shares of the oil and gas producer’s stock valued at $381,000 after acquiring an additional 171 shares during the last quarter. First Citizens Bank & Trust Co. increased its position in Cimarex Energy by 2.3% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 9,633 shares of the oil and gas producer’s stock worth $572,000 after purchasing an additional 217 shares during the period. CIBC Asset Management Inc increased its position in Cimarex Energy by 2.6% during the 2nd quarter. CIBC Asset Management Inc now owns 11,011 shares of the oil and gas producer’s stock worth $653,000 after purchasing an additional 275 shares during the period. New Mexico Educational Retirement Board increased its position in Cimarex Energy by 3.8% during the 2nd quarter. New Mexico Educational Retirement Board now owns 8,300 shares of the oil and gas producer’s stock worth $492,000 after purchasing an additional 300 shares during the period. Finally, Metropolitan Life Insurance Co NY increased its position in Cimarex Energy by 2.1% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 14,624 shares of the oil and gas producer’s stock worth $1,022,000 after purchasing an additional 306 shares during the period. 95.69% of the stock is owned by hedge funds and other institutional investors.
About Cimarex Energy
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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