Today, Research Analysts Set Expectations for Cimarex Energy Co.’s Q3 2018 Earnings (XEC)

Today, Research Analysts Set Expectations for Cimarex Energy Co.’s Q3 2018 Earnings (XEC)
Cimarex Energy Co. (NYSE:XEC) – Investment analysts at KeyCorp lifted their Q3 2018 earnings estimates for Cimarex Energy in a report issued on Tuesday. KeyCorp analyst D. Deckelbaum now forecasts that the brokerage will post earnings of $1.40 per share for the quarter, up from their previous estimate of $1.30. KeyCorp also issued estimates for Cimarex Energy’s FY2018 earnings at $5.57 EPS.

A number of other analysts have also weighed in on the stock. KLR Group upgraded shares of Cimarex Energy from a “hold” rating to an “accumulate” rating and raised their price objective for the company from $143.00 to $152.00 in a research note on Monday, November 7th. Stifel Nicolaus raised their price objective on shares of Cimarex Energy from $142.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, November 1st. Citigroup Inc. raised their price objective on shares of Cimarex Energy from $149.00 to $157.00 and gave the company a “buy” rating in a research note on Monday, September 12th. FBR & Co restated a “buy” rating on shares of Cimarex Energy in a research note on Thursday, November 3rd. Finally, Canaccord Genuity reduced their price objective on shares of Cimarex Energy from $112.00 to $94.00 and set a “hold” rating for the company in a research note on Thursday, August 11th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $127.58.

Shares of Cimarex Energy (NYSE:XEC) traded down 1.32% during mid-day trading on Friday, hitting $128.00. 426,127 shares of the company were exchanged. Cimarex Energy has a 52 week low of $72.77 and a 52 week high of $142.20. The company has a 50 day moving average of $131.19 and a 200 day moving average of $124.84. The company’s market capitalization is $12.16 billion.

A number of institutional investors have recently modified their holdings of XEC. Suntrust Banks Inc. increased its position in shares of Cimarex Energy by 0.3% in the second quarter. Suntrust Banks Inc. now owns 2,607 shares of the company’s stock valued at $310,000 after buying an additional 8 shares during the period. Conning Inc. increased its position in shares of Cimarex Energy by 0.4% in the second quarter. Conning Inc. now owns 2,640 shares of the company’s stock valued at $315,000 after buying an additional 10 shares during the period. Municipal Employees Retirement System of Michigan increased its position in shares of Cimarex Energy by 0.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,000 shares of the company’s stock valued at $403,000 after buying an additional 10 shares during the period. Cleararc Capital Inc. increased its position in shares of Cimarex Energy by 1.0% in the second quarter. Cleararc Capital Inc. now owns 2,319 shares of the company’s stock valued at $277,000 after buying an additional 22 shares during the period. Finally, BOKF NA increased its position in shares of Cimarex Energy by 2.3% in the third quarter. BOKF NA now owns 1,525 shares of the company’s stock valued at $205,000 after buying an additional 35 shares during the period. Institutional investors own 92.89% of the company’s stock.

In related news, SVP Francis Brian Barron sold 500 shares of the stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $135.54, for a total value of $67,770.00. Following the transaction, the senior vice president now owns 67,039 shares in the company, valued at approximately $9,086,466.06. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Joseph R. Albi sold 3,093 shares of the stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $123.47, for a total transaction of $381,892.71. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date is Thursday, November 10th. Cimarex Energy’s dividend payout ratio (DPR) is presently -2.70%.

Cimarex Energy Company Profile

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