Cimarex Energy Co (XEC) Set to Announce Earnings on Tuesday
Cimarex Energy Co (NYSE:XEC) is set to release its earnings data after the market closes on Tuesday, November 7th. Analysts expect Cimarex Energy to post earnings of $0.97 per share for the quarter.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.11. Cimarex Energy had a return on equity of 13.29% and a net margin of 15.64%. The company had revenue of $456.50 million for the quarter, compared to the consensus estimate of $441.52 million. During the same quarter last year, the business posted $0.07 earnings per share. The firm’s revenue was up 52.7% compared to the same quarter last year. On average, analysts expect Cimarex Energy to post $4.27 EPS for the current fiscal year and $5.25 EPS for the next fiscal year.
Shares of Cimarex Energy Co (NYSE:XEC) opened at 117.14 on Tuesday. The company has a 50 day moving average price of $112.71 and a 200-day moving average price of $105.60. The stock has a market cap of $10.94 billion, a P/E ratio of 41.96 and a beta of 1.35. Cimarex Energy Co has a 12 month low of $89.49 and a 12 month 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 given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend is Tuesday, November 14th. Cimarex Energy’s payout ratio is 12.03%.
In other news, Director Harold R. Logan, Jr. sold 913 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $105.83, for a total transaction of $96,622.79. Following the sale, the director now directly owns 9,299 shares in the company, valued at approximately $984,113.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas E. Jorden sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $101.67, for a total transaction of $254,175.00. The disclosure for this sale can be found here. Insiders have sold a total of 21,299 shares of company stock worth $2,204,271 over the last 90 days. Corporate insiders own 1.70% of the company’s stock.
Several brokerages recently weighed in on XEC. Stifel Nicolaus reaffirmed a “buy” rating and issued a $169.00 target price on shares of Cimarex Energy in a report on Friday, July 14th. Citigroup Inc. dropped their target price on shares of Cimarex Energy from $150.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, July 13th. Imperial Capital began coverage on shares of Cimarex Energy in a report on Tuesday, September 19th. They issued an “outperform” rating and a $135.00 target price for the company. Barclays PLC upped their target price on shares of Cimarex Energy from $117.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, October 11th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $130.00 target price on shares of Cimarex Energy in a report on Friday, October 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $136.18.
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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