Brokerages Anticipate Cimarex Energy Co (XEC) Will Announce Earnings of $1.20 Per Share
Equities research analysts expect Cimarex Energy Co (NYSE:XEC) to post $1.20 earnings per share for the current quarter, according to Zacks. Twenty Six analysts have made estimates for Cimarex Energy’s earnings, with the highest EPS estimate coming in at $1.51 and the lowest estimate coming in at $0.94. Cimarex Energy posted earnings of $0.60 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 100%. The business is scheduled to report its next earnings report on Wednesday, February 21st.
On average, analysts expect that Cimarex Energy will report full-year earnings of $4.31 per share for the current fiscal year, with EPS estimates ranging from $3.99 to $4.59. For the next year, analysts expect that the company will post earnings of $5.38 per share, with EPS estimates ranging from $2.62 to $7.80. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Cimarex Energy.
Cimarex Energy (NYSE:XEC) last posted its quarterly earnings data on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.12. The company had revenue of $463.68 million during the quarter, compared to analysts’ expectations of $451.53 million. Cimarex Energy had a net margin of 20.45% and a return on equity of 16.11%. The firm’s revenue for the quarter was up 38.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 earnings per share.
A number of equities research analysts have recently commented on XEC shares. Stifel Nicolaus set a $168.00 target price on shares of Cimarex Energy and gave the company a “buy” rating in a research report on Thursday, October 5th. Williams Capital reiterated a “buy” rating and issued a $136.00 target price on shares of Cimarex Energy in a research report on Wednesday, August 9th. Cowen and Company set a $135.00 target price on shares of Cimarex Energy and gave the company a “buy” rating in a research report on Friday, August 25th. Citigroup Inc. reduced their target price on shares of Cimarex Energy from $135.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, July 21st. Finally, KeyCorp reiterated a “buy” rating and issued a $130.00 target price on shares of Cimarex Energy in a research report on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $135.81.
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Shares of Cimarex Energy (NYSE XEC) traded down $0.71 during midday trading on Friday, hitting $125.05. 465,500 shares of the stock were exchanged, compared to its average volume of 827,732. The firm has a market capitalization of $11,912.38, a PE ratio of 32.91 and a beta of 1.35. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.51 and a quick ratio of 1.42. Cimarex Energy has a 1-year low of $89.49 and a 1-year high of $146.96.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend is Tuesday, November 14th. Cimarex Energy’s payout ratio is 8.51%.
In related news, VP Joseph R. Albi sold 2,750 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $99.02, for a total value of $272,305.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Stephen P. Bell sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $102.54, for a total transaction of $256,350.00. The disclosure for this sale can be found here. In the last three months, insiders sold 26,107 shares of company stock valued at $2,918,092. Insiders own 1.70% of the company’s stock.
A number of large investors have recently modified their holdings of XEC. Renaissance Technologies LLC raised its holdings in Cimarex Energy by 16.6% in the first quarter. Renaissance Technologies LLC now owns 61,698 shares of the oil and gas producer’s stock valued at $7,372,000 after acquiring an additional 8,800 shares in the last quarter. DnB Asset Management AS raised its holdings in Cimarex Energy by 12.9% in the second quarter. DnB Asset Management AS now owns 13,959 shares of the oil and gas producer’s stock valued at $1,312,000 after acquiring an additional 1,600 shares in the last quarter. Xact Kapitalforvaltning AB raised its holdings in Cimarex Energy by 17.0% in the second quarter. Xact Kapitalforvaltning AB now owns 8,339 shares of the oil and gas producer’s stock valued at $784,000 after acquiring an additional 1,213 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in Cimarex Energy in the second quarter valued at approximately $423,000. Finally, Capstone Asset Management Co. raised its holdings in Cimarex Energy by 7.5% in the second quarter. Capstone Asset Management Co. now owns 6,464 shares of the oil and gas producer’s stock valued at $608,000 after acquiring an additional 450 shares in the last quarter. 91.05% of the stock is currently owned by hedge funds and other institutional investors.
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.
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