Brokerages predict that Cimarex Energy Co (NYSE:XEC) will report $640.34 million in sales for the current fiscal quarter, according to Zacks. Twenty One analysts have issued estimates for Cimarex Energy’s earnings. The highest sales estimate is $726.47 million and the lowest is $567.00 million. Cimarex Energy posted sales of $556.27 million in the same quarter last year, which would indicate a positive year over year growth rate of 15.1%. The firm is expected to issue its next earnings report on Tuesday, August 6th.
On average, analysts expect that Cimarex Energy will report full-year sales of $2.60 billion for the current financial year, with estimates ranging from $2.35 billion to $2.91 billion. For the next year, analysts expect that the business will post sales of $3.04 billion, with estimates ranging from $2.42 billion to $4.22 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Cimarex Energy.
Cimarex Energy (NYSE:XEC) last announced its earnings results on Wednesday, May 8th. The oil and gas producer reported $1.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.37 by ($0.17). Cimarex Energy had a return on equity of 19.95% and a net margin of 26.90%. The company had revenue of $577.00 million for the quarter, compared to analyst estimates of $581.51 million. During the same quarter in the previous year, the company posted $1.82 earnings per share. Cimarex Energy’s revenue for the quarter was up 1.7% on a year-over-year basis.
A number of equities analysts have recently issued reports on XEC shares. Morgan Stanley set a $100.00 target price on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Thursday, May 16th. Capital One Financial raised shares of Cimarex Energy from an “equal weight” rating to an “overweight” rating in a research note on Thursday. Imperial Capital reissued an “outperform” rating and set a $82.00 price target (down from $84.00) on shares of Cimarex Energy in a research note on Friday, May 10th. Susquehanna Bancshares raised shares of Cimarex Energy from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $74.00 to $88.00 in a research note on Friday, February 8th. Finally, Ifs Securities reissued a “market perform” rating on shares of Cimarex Energy in a research note on Sunday, February 3rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $105.83.
Shares of XEC stock traded down $0.08 during trading hours on Friday, reaching $64.00. 1,355,598 shares of the company were exchanged, compared to its average volume of 1,436,683. Cimarex Energy has a fifty-two week low of $55.62 and a fifty-two week high of $103.91. The firm has a market capitalization of $6.49 billion, a price-to-earnings ratio of 8.65 and a beta of 1.31. The company has a current ratio of 0.66, a quick ratio of 0.59 and a debt-to-equity ratio of 0.58.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Wednesday, August 14th. Cimarex Energy’s dividend payout ratio is 10.81%.
In other news, Director Harold R. Logan, Jr. sold 990 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $70.00, for a total transaction of $69,300.00. Following the completion of the sale, the director now owns 7,259 shares of the company’s stock, valued at $508,130. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. First Hawaiian Bank raised its position in shares of Cimarex Energy by 29.4% in the fourth quarter. First Hawaiian Bank now owns 4,726 shares of the oil and gas producer’s stock valued at $292,000 after purchasing an additional 1,074 shares during the period. James Investment Research Inc. bought a new position in shares of Cimarex Energy in the fourth quarter valued at about $1,005,000. Strs Ohio raised its position in shares of Cimarex Energy by 3.7% in the fourth quarter. Strs Ohio now owns 10,261 shares of the oil and gas producer’s stock valued at $632,000 after purchasing an additional 365 shares during the period. IFM Investors Pty Ltd raised its position in shares of Cimarex Energy by 13.1% in the fourth quarter. IFM Investors Pty Ltd now owns 5,727 shares of the oil and gas producer’s stock valued at $353,000 after purchasing an additional 663 shares during the period. Finally, Grace & White Inc. NY raised its position in shares of Cimarex Energy by 332.3% in the fourth quarter. Grace & White Inc. NY now owns 47,418 shares of the oil and gas producer’s stock valued at $2,923,000 after purchasing an additional 36,450 shares during the period. Hedge funds and other institutional investors own 93.30% of the company’s stock.
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, 2018, it had a total proved reserves of 591.2 million barrels of oil equivalent, consisting of 1.59 trillion cubic feet of natural gas; 146.5 million barrels (MMBbls) of oil; and 179.4 MMBbls of natural gas liquids primarily located in the Permian Basin and Mid-Continent regions.
Featured Story: Forex
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cimarex Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cimarex Energy and related companies with MarketBeat.com's FREE daily email newsletter.