Cimarex Energy Co. (NYSE:XEC) – Truist Securiti increased their Q3 2021 earnings per share estimates for shares of Cimarex Energy in a research report issued on Monday, May 10th. Truist Securiti analyst N. Dingmann now forecasts that the oil and gas producer will post earnings per share of $1.93 for the quarter, up from their previous estimate of $1.41. Truist Securiti also issued estimates for Cimarex Energy’s Q4 2021 earnings at $1.92 EPS, FY2021 earnings at $7.42 EPS, Q1 2022 earnings at $2.10 EPS, Q2 2022 earnings at $2.05 EPS, Q3 2022 earnings at $2.17 EPS, Q4 2022 earnings at $2.25 EPS and FY2022 earnings at $8.56 EPS.
Several other equities analysts also recently commented on XEC. Morgan Stanley boosted their price objective on Cimarex Energy from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, April 26th. Susquehanna upped their price target on shares of Cimarex Energy from $60.00 to $70.00 and gave the company a “positive” rating in a research note on Wednesday, February 24th. Raymond James upgraded shares of Cimarex Energy from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $96.00 to $102.00 in a research report on Thursday, April 29th. Mizuho raised their target price on shares of Cimarex Energy from $76.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, April 26th. Finally, Scotiabank upgraded shares of Cimarex Energy from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $65.00 to $75.00 in a report on Wednesday, April 21st. Two equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $64.81.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings data on Tuesday, May 4th. The oil and gas producer reported $1.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.97 by $0.01. The company had revenue of $679.47 million during the quarter, compared to analyst estimates of $584.19 million. Cimarex Energy had a positive return on equity of 7.29% and a negative net margin of 104.14%. During the same quarter in the previous year, the company posted $0.58 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 1st. Shareholders of record on Friday, August 13th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.51%. Cimarex Energy’s payout ratio is 19.73%.
In other news, COO Joseph R. Albi sold 15,000 shares of Cimarex Energy stock in a transaction on Thursday, March 4th. The stock was sold at an average price of $61.43, for a total transaction of $921,450.00. Also, VP Stephen P. Bell sold 6,451 shares of the stock in a transaction dated Friday, March 5th. The shares were sold at an average price of $66.09, for a total transaction of $426,346.59. Insiders sold 26,451 shares of company stock valued at $1,683,447 in the last quarter. 2.00% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Donoghue Forlines LLC purchased a new stake in Cimarex Energy during the fourth quarter valued at about $1,648,000. Retirement Systems of Alabama grew its stake in shares of Cimarex Energy by 148.4% during the fourth quarter. Retirement Systems of Alabama now owns 330,906 shares of the oil and gas producer’s stock valued at $12,412,000 after acquiring an additional 197,678 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Cimarex Energy by 4.9% during the fourth quarter. Victory Capital Management Inc. now owns 4,423,230 shares of the oil and gas producer’s stock worth $165,916,000 after acquiring an additional 207,772 shares during the last quarter. Schroder Investment Management Group increased its holdings in Cimarex Energy by 16.6% during the 4th quarter. Schroder Investment Management Group now owns 839,086 shares of the oil and gas producer’s stock worth $31,474,000 after purchasing an additional 119,344 shares during the last quarter. Finally, Sowell Financial Services LLC boosted its stake in shares of Cimarex Energy by 101.0% during the 4th quarter. Sowell Financial Services LLC now owns 6,328 shares of the oil and gas producer’s stock valued at $237,000 after buying an additional 3,179 shares during the last quarter. 91.50% 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 Texas, Oklahoma, and New Mexico. As of December 31, 2020, it had a total proved reserves of 531.0 million barrels of oil equivalent; 1.36 trillion cubic feet of proved gas reserves; 144.1 million barrels (MMBbls) of proved oil reserves; and 159.8 MMBbls of natural gas liquids reserves primarily located in the Permian Basin and Mid-Continent regions.
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