$1.23 EPS Expected for Cimarex Energy Co (XEC) This Quarter
Wall Street brokerages expect Cimarex Energy Co (NYSE:XEC) to announce $1.23 earnings per share for the current quarter, according to Zacks. Twenty Five analysts have provided estimates for Cimarex Energy’s earnings, with the lowest EPS estimate coming in at $0.94 and the highest estimate coming in at $1.51. Cimarex Energy posted earnings of $0.60 per share during the same quarter last year, which suggests a positive year over year growth rate of 105%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, February 21st.
On average, analysts expect that Cimarex Energy will report full year earnings of $4.36 per share for the current year, with EPS estimates ranging from $4.04 to $4.61. For the next financial year, analysts expect that the firm will report earnings of $5.47 per share, with EPS estimates ranging from $2.62 to $7.06. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow Cimarex Energy.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings data on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.12. The business had revenue of $463.68 million during the quarter, compared to analysts’ expectations of $451.53 million. Cimarex Energy had a return on equity of 16.11% and a net margin of 20.45%. The business’s quarterly revenue was up 38.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 EPS.
Shares of Cimarex Energy (XEC) opened at $112.33 on Friday. The firm has a market capitalization of $10,769.24, a P/E ratio of 29.75 and a beta of 1.34. Cimarex Energy has a 52 week low of $89.49 and a 52 week high of $144.30. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.42 and a current ratio of 1.51.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend is Wednesday, February 14th. Cimarex Energy’s payout ratio is currently 8.51%.
In related news, CEO Thomas E. Jorden sold 2,500 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $125.10, for a total transaction of $312,750.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Stephen P. Bell sold 3,696 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $125.11, for a total value of $462,406.56. The disclosure for this sale can be found here. In the last three months, insiders sold 29,764 shares of company stock worth $3,496,934. Corporate insiders own 1.70% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC boosted its position in Cimarex Energy by 37.9% during the third quarter. Parametric Portfolio Associates LLC now owns 258,902 shares of the oil and gas producer’s stock worth $29,429,000 after purchasing an additional 71,140 shares in the last quarter. Optimum Investment Advisors purchased a new stake in Cimarex Energy during the third quarter worth $281,000. Belpointe Asset Management LLC purchased a new stake in Cimarex Energy during the third quarter worth $311,000. IFM Investors Pty Ltd purchased a new stake in Cimarex Energy during the third quarter worth $330,000. Finally, Sterling Capital Management LLC boosted its position in Cimarex Energy by 48.0% during the third quarter. Sterling Capital Management LLC now owns 3,700 shares of the oil and gas producer’s stock worth $421,000 after purchasing an additional 1,200 shares in the last quarter. 92.35% of the stock is currently owned by hedge funds and other institutional investors.
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.
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