Equities analysts predict that Cimarex Energy Co (NYSE:XEC) will announce earnings of $1.95 per share for the current quarter, according to Zacks Investment Research. Seventeen analysts have issued estimates for Cimarex Energy’s earnings, with the highest EPS estimate coming in at $2.29 and the lowest estimate coming in at $1.51. Cimarex Energy posted earnings per share of $1.47 in the same quarter last year, which indicates a positive year over year growth rate of 32.7%. The company is scheduled to announce 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 fiscal year, with EPS estimates ranging from $6.30 to $7.68. For the next fiscal year, analysts forecast that the company will post earnings of $8.10 per share, with EPS estimates ranging from $5.36 to $9.47. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Cimarex Energy.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings results on Tuesday, November 6th. The oil and gas producer reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.47. The company had revenue of $591.50 million for the quarter, compared to analysts’ expectations of $561.67 million. Cimarex Energy had a net margin of 28.70% and a return on equity of 23.33%. The business’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same period last year, the firm posted $1.09 earnings per share.
A number of equities analysts have recently weighed in on XEC shares. Imperial Capital reduced their price target on shares of Cimarex Energy from $156.00 to $128.00 and set an “outperform” rating on the stock in a research report on Thursday, August 9th. Credit Suisse Group lowered shares of Cimarex Energy from an “outperform” rating to a “neutral” rating in a report on Thursday, August 9th. Morgan Stanley dropped their price objective on shares of Cimarex Energy from $124.00 to $123.00 and set an “overweight” rating on the stock in a report on Thursday, August 16th. KLR Group restated a “buy” rating and set a $117.00 price objective on shares of Cimarex Energy in a report on Monday, August 20th. Finally, Williams Capital set a $129.00 price objective on shares of Cimarex Energy and gave the stock a “buy” rating in a report on Monday, August 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $123.90.
A number of hedge funds have recently modified their holdings of XEC. Janney Montgomery Scott LLC increased its stake in Cimarex Energy by 31.5% in the 2nd quarter. Janney Montgomery Scott LLC now owns 8,069 shares of the oil and gas producer’s stock valued at $821,000 after buying an additional 1,931 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Cimarex Energy by 45.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 4,627 shares of the oil and gas producer’s stock valued at $471,000 after buying an additional 1,450 shares during the last quarter. Aperio Group LLC increased its stake in Cimarex Energy by 49.7% in the 2nd quarter. Aperio Group LLC now owns 65,324 shares of the oil and gas producer’s stock valued at $6,646,000 after buying an additional 21,698 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in Cimarex Energy by 84.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 4,344 shares of the oil and gas producer’s stock valued at $442,000 after buying an additional 1,992 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Cimarex Energy by 6.0% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 287,151 shares of the oil and gas producer’s stock valued at $29,215,000 after buying an additional 16,269 shares during the last quarter. Hedge funds and other institutional investors own 98.53% of the company’s stock.
Shares of NYSE XEC traded down $0.18 during midday trading on Friday, reaching $75.22. 2,293,339 shares of the stock were exchanged, compared to its average volume of 1,436,608. The stock has a market cap of $7.74 billion, a price-to-earnings ratio of 16.18 and a beta of 1.10. Cimarex Energy has a 12 month low of $73.01 and a 12 month high of $130.16. The company has a quick ratio of 1.62, a current ratio of 1.69 and a debt-to-equity ratio of 0.49.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 15th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.96%. Cimarex Energy’s payout ratio is currently 15.48%.
Cimarex Energy Company Profile
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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