Cimarex Energy Co (XEC) Announces Quarterly Earnings Results
Cimarex Energy Co (NYSE:XEC) announced its quarterly earnings data on Tuesday. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.11, Briefing.com reports. The company had revenue of $456.50 million for the quarter, compared to analysts’ expectations of $441.52 million. Cimarex Energy had a negative net margin of 7.78% and a positive return on equity of 9.03%. Cimarex Energy’s revenue was up 52.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.07 EPS.
Cimarex Energy (NYSE XEC) traded up 1.49% on Tuesday, hitting $93.86. 1,451,705 shares of the stock were exchanged. The company’s 50-day moving average is $94.55 and its 200-day moving average is $114.34. The company’s market cap is $8.77 billion. Cimarex Energy has a 52 week low of $89.49 and a 52 week high of $146.96.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.32 dividend on an annualized basis and a yield of 0.34%. Cimarex Energy’s dividend payout ratio (DPR) is -25.20%.
Several brokerages have commented on XEC. BidaskClub upgraded shares of Cimarex Energy from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Citigroup Inc. decreased their target price on shares of Cimarex Energy from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. Stifel Nicolaus restated a “buy” rating and set a $169.00 target price on shares of Cimarex Energy in a research report on Friday, July 14th. Jefferies Group LLC restated a “hold” rating and set a $119.00 target price on shares of Cimarex Energy in a research report on Thursday, July 6th. Finally, Scotiabank set a $143.00 target price on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Saturday, July 1st. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the stock. Cimarex Energy presently has an average rating of “Hold” and a consensus price target of $138.19.
In related news, CEO Thomas E. Jorden sold 2,500 shares of the stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $116.40, for a total value of $291,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Stephen P. Bell sold 5,000 shares of the stock in a transaction on Friday, May 19th. The shares were sold at an average price of $117.24, for a total value of $586,200.00. The disclosure for this sale can be found here. Insiders sold a total of 8,538 shares of company stock valued at $1,001,760 in the last quarter. 1.70% of the stock is currently owned by corporate insiders.
About Cimarex Energy
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.
Receive News & Ratings for Cimarex Energy Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cimarex Energy Co and related companies with MarketBeat.com's FREE daily email newsletter.