Brokerages predict that Cimarex Energy Co (NYSE:XEC) will post $553.24 million in sales for the current quarter, Zacks Investment Research reports. Twenty Six analysts have provided estimates for Cimarex Energy’s earnings. The lowest sales estimate is $445.42 million and the highest is $607.17 million. Cimarex Energy posted sales of $447.18 million during the same quarter last year, which would indicate a positive year over year growth rate of 23.7%. The company is expected to issue its next quarterly earnings report on Wednesday, May 9th.
On average, analysts expect that Cimarex Energy will report full-year sales of $553.24 million for the current financial year, with estimates ranging from $2.00 billion to $2.63 billion. For the next financial year, analysts expect that the business will report sales of $2.86 billion per share, with estimates ranging from $2.37 billion to $3.20 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Cimarex Energy.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings results on Wednesday, February 14th. The oil and gas producer reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.07. The business had revenue of $550.90 million during the quarter, compared to analysts’ expectations of $537.74 million. Cimarex Energy had a return on equity of 18.73% and a net margin of 25.77%. The firm’s revenue for the quarter was up 44.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 EPS.
In related news, SVP Francis Brian Barron sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $112.59, for a total transaction of $337,770.00. Following the completion of the sale, the senior vice president now directly owns 87,723 shares of the company’s stock, valued at approximately $9,876,732.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas E. Jorden sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $113.14, for a total value of $565,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 14,400 shares of company stock valued at $1,621,348 over the last three months. 1.70% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of XEC. Assetmark Inc. lifted its stake in shares of Cimarex Energy by 1,015.9% during the 4th quarter. Assetmark Inc. now owns 982 shares of the oil and gas producer’s stock worth $120,000 after acquiring an additional 894 shares during the last quarter. LMR Partners LLP bought a new stake in shares of Cimarex Energy during the 4th quarter worth approximately $200,000. Eagle Ridge Investment Management bought a new stake in shares of Cimarex Energy during the 4th quarter worth approximately $204,000. Capital Advisors Inc. OK bought a new stake in shares of Cimarex Energy during the 4th quarter worth approximately $205,000. Finally, Signition LP bought a new stake in shares of Cimarex Energy during the 4th quarter worth approximately $206,000. 92.46% of the stock is owned by hedge funds and other institutional investors.
Cimarex Energy (NYSE:XEC) opened at $95.38 on Tuesday. The firm has a market capitalization of $9,090.00, a P/E ratio of 21.01 and a beta of 1.24. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.30 and a current ratio of 1.38. Cimarex Energy has a 1-year low of $89.49 and a 1-year high of $130.16.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Thursday, March 15th will be paid a dividend of $0.16 per share. This is a positive change from Cimarex Energy’s previous quarterly dividend of $0.08. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Monday, May 14th. Cimarex Energy’s dividend payout ratio (DPR) is currently 7.05%.
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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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