Brokerages Anticipate Cimarex Energy Co (XEC) to Post $1.27 Earnings Per Share

Wall Street analysts expect Cimarex Energy Co (NYSE:XEC) to report earnings of $1.27 per share for the current fiscal quarter, Zacks reports. Twenty Five analysts have issued estimates for Cimarex Energy’s earnings. The lowest EPS estimate is $0.99 and the highest is $1.51. Cimarex Energy reported earnings of $0.60 per share in the same quarter last year, which suggests a positive year over year growth rate of 111.7%. The business is expected to issue its next quarterly earnings report after the market closes on Wednesday, February 14th.

According to Zacks, analysts expect that Cimarex Energy will report full-year earnings of $4.41 per share for the current fiscal year, with EPS estimates ranging from $4.14 to $4.67. For the next financial year, analysts forecast that the firm will report earnings of $5.85 per share, with EPS estimates ranging from $3.51 to $7.93. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Cimarex Energy.

Cimarex Energy (NYSE:XEC) last announced its quarterly earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.12. The business had revenue of $463.68 million for the quarter, compared to the consensus estimate of $451.53 million. Cimarex Energy had a net margin of 20.45% and a return on equity of 16.11%. Cimarex Energy’s revenue for the quarter was up 38.1% on a year-over-year basis. During the same period last year, the company posted $0.53 EPS.

A number of brokerages recently weighed in on XEC. Cowen set a $165.00 price target on shares of Cimarex Energy and gave the company a “buy” rating in a research report on Thursday. KeyCorp reiterated a “buy” rating and issued a $130.00 price target on shares of Cimarex Energy in a research report on Friday, October 20th. Seaport Global Securities upgraded shares of Cimarex Energy from a “sell” rating to a “buy” rating in a research report on Tuesday, December 19th. Jefferies Group set a $115.00 price target on shares of Cimarex Energy and gave the company a “hold” rating in a research report on Thursday, November 16th. Finally, Imperial Capital increased their price target on shares of Cimarex Energy from $135.00 to $141.00 and gave the company an “outperform” rating in a research report on Thursday, November 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. Cimarex Energy has an average rating of “Buy” and an average target price of $138.05.

In other news, Director L Paul Teague sold 3,248 shares of Cimarex Energy stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $125.03, for a total value of $406,097.44. Following the sale, the director now directly owns 41,146 shares in the company, valued at $5,144,484.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lisa A. Stewart acquired 248 shares of the stock in a transaction dated Friday, December 8th. The stock was acquired at an average price of $112.06 per share, for a total transaction of $27,790.88. The disclosure for this purchase can be found here. Insiders have sold a total of 32,264 shares of company stock worth $3,804,134 over the last 90 days. Corporate insiders own 1.70% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Advisor Group Inc. raised its holdings in shares of Cimarex Energy by 5.3% in the second quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock valued at $113,000 after purchasing an additional 60 shares during the last quarter. Virtu KCG Holdings LLC raised its holdings in shares of Cimarex Energy by 0.6% in the second quarter. Virtu KCG Holdings LLC now owns 15,740 shares of the oil and gas producer’s stock valued at $1,480,000 after purchasing an additional 96 shares during the last quarter. D.A. Davidson & CO. raised its holdings in shares of Cimarex Energy by 12.0% in the second quarter. D.A. Davidson & CO. now owns 2,335 shares of the oil and gas producer’s stock valued at $219,000 after purchasing an additional 250 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Cimarex Energy by 8.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 3,485 shares of the oil and gas producer’s stock valued at $328,000 after purchasing an additional 260 shares during the last quarter. Finally, Verition Fund Management LLC raised its holdings in shares of Cimarex Energy by 4.6% in the second quarter. Verition Fund Management LLC now owns 7,949 shares of the oil and gas producer’s stock valued at $747,000 after purchasing an additional 349 shares during the last quarter. Institutional investors own 92.20% of the company’s stock.

Shares of Cimarex Energy (NYSE XEC) traded down $0.60 during trading hours on Friday, hitting $124.04. 827,539 shares of the company were exchanged, compared to its average volume of 934,131. The firm has a market cap of $11,820.00, a P/E ratio of 31.01 and a beta of 1.33. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 0.62. Cimarex Energy has a 1-year low of $89.49 and a 1-year high of $142.88.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be issued a dividend of $0.08 per share. The ex-dividend date is Wednesday, February 14th. This represents a $0.32 annualized dividend and a yield of 0.26%. Cimarex Energy’s dividend payout ratio (DPR) is currently 8.00%.

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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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Earnings History and Estimates for Cimarex Energy (NYSE:XEC)

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