US Capital Advisors Weighs in on Cimarex Energy Co’s Q2 2019 Earnings (XEC)
Cimarex Energy Co (NYSE:XEC) – Investment analysts at US Capital Advisors cut their Q2 2019 earnings per share estimates for shares of Cimarex Energy in a research note issued on Monday, May 20th. US Capital Advisors analyst C. Horwitz now expects that the oil and gas producer will post earnings of $1.65 per share for the quarter, down from their previous forecast of $1.93. US Capital Advisors also issued estimates for Cimarex Energy’s Q3 2019 earnings at $1.68 EPS, Q4 2019 earnings at $1.68 EPS, FY2019 earnings at $6.21 EPS, Q1 2020 earnings at $2.15 EPS, Q2 2020 earnings at $1.97 EPS, Q3 2020 earnings at $1.94 EPS, Q4 2020 earnings at $1.95 EPS, FY2020 earnings at $8.01 EPS, Q1 2021 earnings at $2.06 EPS and FY2021 earnings at $7.86 EPS.
A number of other research analysts have also issued reports on XEC. Wells Fargo & Co began coverage on shares of Cimarex Energy in a report on Monday. They issued a “market perform” rating and a $86.00 target price on the stock. Imperial Capital restated an “outperform” rating and issued a $82.00 target price (down from $84.00) on shares of Cimarex Energy in a report on Friday, May 10th. Morgan Stanley set a $100.00 target price on shares of Cimarex Energy and gave the company a “buy” rating in a report on Thursday, May 16th. SunTrust Banks upgraded shares of Cimarex Energy from a “hold” rating to a “buy” rating and upped their target price for the company from $75.00 to $85.00 in a report on Monday. Finally, Capital One Financial lowered shares of Cimarex Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Cimarex Energy currently has an average rating of “Hold” and a consensus target price of $105.83.
Cimarex Energy (NYSE:XEC) last released its earnings results on Wednesday, May 8th. The oil and gas producer reported $1.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.37 by ($0.17). The firm had revenue of $577.00 million during the quarter, compared to analysts’ expectations of $581.51 million. Cimarex Energy had a net margin of 26.90% and a return on equity of 19.95%. Cimarex Energy’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the company posted $1.82 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, August 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.17%. Cimarex Energy’s payout ratio is currently 10.81%.
In other news, Director Harold R. Logan, Jr. sold 990 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $70.00, for a total transaction of $69,300.00. Following the transaction, the director now directly owns 7,259 shares in the company, valued at approximately $508,130. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Cerebellum GP LLC acquired a new stake in Cimarex Energy during the 1st quarter worth approximately $339,000. Allstate Corp increased its position in Cimarex Energy by 4.4% during the 1st quarter. Allstate Corp now owns 22,825 shares of the oil and gas producer’s stock worth $1,595,000 after purchasing an additional 963 shares in the last quarter. Nordea Investment Management AB increased its position in Cimarex Energy by 1.8% during the 1st quarter. Nordea Investment Management AB now owns 170,427 shares of the oil and gas producer’s stock worth $11,913,000 after purchasing an additional 3,070 shares in the last quarter. Monarch Alternative Capital LP acquired a new stake in Cimarex Energy during the 1st quarter worth approximately $25,730,000. Finally, Weiss Asset Management LP acquired a new stake in Cimarex Energy during the 1st quarter worth approximately $1,903,000. Institutional investors and hedge funds own 95.93% of the company’s stock.
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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