Brokerages predict that Cimarex Energy Co (NYSE:XEC) will report earnings per share (EPS) of $1.95 for the current quarter, Zacks Investment Research reports. Seventeen analysts have made estimates for Cimarex Energy’s earnings. The lowest EPS estimate is $1.51 and the highest is $2.29. Cimarex Energy posted earnings of $1.47 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 32.7%. The company is expected to issue its next quarterly earnings results on Wednesday, February 13th.
On average, analysts expect that Cimarex Energy will report full-year earnings of $7.14 per share for the current year, with EPS estimates ranging from $6.30 to $7.68. For the next year, analysts anticipate that the business will report earnings of $8.10 per share, with EPS estimates ranging from $5.36 to $9.47. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that follow Cimarex Energy.
Cimarex Energy (NYSE:XEC) last announced its earnings results on Tuesday, November 6th. The oil and gas producer reported $1.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.52 by $0.47. Cimarex Energy had a return on equity of 23.33% and a net margin of 28.70%. The business had revenue of $591.50 million for the quarter, compared to analyst estimates of $561.67 million. During the same period in the previous year, the company earned $1.09 earnings per share. The company’s revenue for the quarter was up 27.6% compared to the same quarter last year.
A number of analysts have recently issued reports on XEC shares. Wolfe Research raised Cimarex Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, October 17th. Imperial Capital reaffirmed an “in-line” rating on shares of Cimarex Energy in a research report on Tuesday, November 20th. Williams Capital set a $129.00 target price on Cimarex Energy and gave the stock a “buy” rating in a research report on Wednesday, November 7th. ValuEngine raised Cimarex Energy from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 9th. Finally, Morgan Stanley dropped their target price on Cimarex Energy from $123.00 to $118.00 and set a “buy” rating on the stock in a research report on Wednesday, September 26th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $123.90.
A number of institutional investors have recently made changes to their positions in XEC. Mount Yale Investment Advisors LLC acquired a new position in Cimarex Energy in the second quarter valued at approximately $115,000. JNBA Financial Advisors acquired a new position in Cimarex Energy in the third quarter valued at approximately $143,000. Point72 Hong Kong Ltd acquired a new position in Cimarex Energy in the second quarter valued at approximately $161,000. Eagle Boston Investment Management Inc. acquired a new position in Cimarex Energy in the second quarter valued at approximately $204,000. Finally, Glenmede Trust Co. NA boosted its stake in Cimarex Energy by 2,358.0% in the third quarter. Glenmede Trust Co. NA now owns 2,458 shares of the oil and gas producer’s stock valued at $228,000 after acquiring an additional 2,358 shares during the period. 98.53% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE XEC traded down $0.18 during midday trading on Friday, reaching $75.22. 2,293,339 shares of the company’s stock were exchanged, compared to its average volume of 1,436,608. Cimarex Energy has a 52-week low of $73.01 and a 52-week high of $130.16. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of 16.18 and a beta of 1.10. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.62 and a current ratio of 1.69.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 15th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.96%. Cimarex Energy’s dividend payout ratio is currently 15.48%.
About Cimarex Energy
Cimarex Energy Co operates as an independent oil and gas exploration and production company primarily in Oklahoma, Texas, and New Mexico. As of December 31, 2017, it had a total proved oil and gas reserves of 3.35 trillion cubic feet equivalent (Tcfe) consisting of 1.61 trillion cubic feet of natural gas, 0.82 Tcfe of oil, and 0.92 Tcfe of natural gas liquids primarily located in the Mid-Continent and Permian Basin regions.
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