Brokerages Expect Cimarex Energy Co (XEC) Will Post Quarterly Sales of $512.31 Million

Brokerages expect Cimarex Energy Co (NYSE:XEC) to report $512.31 million in sales for the current quarter, Zacks Investment Research reports. Twenty Five analysts have provided estimates for Cimarex Energy’s earnings. The highest sales estimate is $577.91 million and the lowest is $464.97 million. Cimarex Energy posted sales of $382.16 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 34.1%. The company is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, February 14th.

According to Zacks, analysts expect that Cimarex Energy will report full-year sales of $512.31 million for the current fiscal year, with estimates ranging from $1.79 billion to $1.96 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.28 billion per share, with estimates ranging from $1.88 billion to $2.62 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Cimarex Energy.

Cimarex Energy (NYSE:XEC) last issued its earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.12. The firm had revenue of $463.68 million for 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 was up 38.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.53 earnings per share.

Several analysts recently weighed in on the stock. Cowen set a $165.00 target price on shares of Cimarex Energy and gave the company a “buy” rating in a report on Thursday. KeyCorp reissued a “buy” rating on shares of Cimarex Energy in a report on Wednesday, November 8th. Williams Capital raised their price objective on shares of Cimarex Energy from $132.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, October 18th. Susquehanna Bancshares cut shares of Cimarex Energy from a “positive” rating to a “neutral” rating in a report on Monday, November 13th. Finally, UBS Group cut shares of Cimarex Energy from a “positive” rating to a “neutral” rating in a report on Monday, November 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $138.05.

In other news, CEO Thomas E. Jorden sold 2,500 shares of Cimarex Energy stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $122.88, for a total value of $307,200.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lisa A. Stewart bought 248 shares of the business’s stock in a transaction dated Friday, December 8th. The stock was acquired at an average cost of $112.06 per share, for a total transaction of $27,790.88. The disclosure for this purchase can be found here. Insiders sold a total of 32,264 shares of company stock worth $3,804,134 over the last ninety days. Corporate insiders own 1.70% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. grew its position in Cimarex Energy by 9.2% in the 2nd quarter. Franklin Resources Inc. now owns 52,048 shares of the oil and gas producer’s stock valued at $4,893,000 after buying an additional 4,400 shares during the last quarter. Nationwide Fund Advisors grew its position in Cimarex Energy by 14.7% in the 2nd quarter. Nationwide Fund Advisors now owns 73,015 shares of the oil and gas producer’s stock valued at $6,864,000 after buying an additional 9,339 shares during the last quarter. Amalgamated Bank grew its position in Cimarex Energy by 74.2% in the 2nd quarter. Amalgamated Bank now owns 10,277 shares of the oil and gas producer’s stock valued at $966,000 after buying an additional 4,377 shares during the last quarter. ProShare Advisors LLC grew its position in Cimarex Energy by 98.8% in the 2nd quarter. ProShare Advisors LLC now owns 36,789 shares of the oil and gas producer’s stock valued at $3,459,000 after buying an additional 18,281 shares during the last quarter. Finally, New York State Common Retirement Fund grew its position in Cimarex Energy by 17.1% in the 2nd quarter. New York State Common Retirement Fund now owns 366,928 shares of the oil and gas producer’s stock valued at $34,495,000 after buying an additional 53,649 shares during the last quarter. 92.20% of the stock is currently owned by institutional investors and hedge funds.

Shares of Cimarex Energy (XEC) opened at $124.04 on Friday. The firm has a market cap of $11,873.32, a P/E ratio of 32.99 and a beta of 1.33. Cimarex Energy has a 1-year low of $89.49 and a 1-year high of $142.88. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 0.62.

The firm 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. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.26%. Cimarex Energy’s payout ratio is 8.51%.

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

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