Brokerages expect that Cimarex Energy Co (NYSE:XEC) will report sales of $553.45 million for the current fiscal quarter, according to Zacks. Twenty Six analysts have made estimates for Cimarex Energy’s earnings, with the lowest sales estimate coming in at $445.42 million and the highest estimate coming in at $607.17 million. Cimarex Energy posted sales of $447.18 million in the same quarter last year, which suggests a positive year-over-year growth rate of 23.8%. The company is scheduled to announce its next quarterly earnings results on Wednesday, May 9th.
According to Zacks, analysts expect that Cimarex Energy will report full year sales of $553.45 million for the current year, with estimates ranging from $2.00 billion to $2.63 billion. For the next year, analysts anticipate that the firm will post sales of $2.86 billion per share, with estimates ranging from $2.37 billion to $3.20 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Cimarex Energy.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings results on Wednesday, February 14th. The oil and gas producer reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.07. Cimarex Energy had a return on equity of 18.73% and a net margin of 25.77%. The business had revenue of $550.90 million during the quarter, compared to the consensus estimate of $537.74 million. During the same quarter last year, the firm posted $0.60 EPS. The company’s quarterly revenue was up 44.1% on a year-over-year basis.
Several equities research analysts have issued reports on XEC shares. KeyCorp reaffirmed a “buy” rating on shares of Cimarex Energy in a report on Wednesday, November 8th. SunTrust Banks raised their price target on Cimarex Energy to $127.00 and gave the company a “hold” rating in a report on Thursday, November 9th. Imperial Capital raised their price target on Cimarex Energy from $135.00 to $141.00 and gave the company an “outperform” rating in a report on Thursday, November 9th. Capital One Financial reaffirmed an “overweight” rating on shares of Cimarex Energy in a report on Wednesday, November 8th. Finally, UBS Group downgraded Cimarex Energy from a “positive” rating to a “neutral” rating in a report on Monday, November 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $139.71.
In related news, Director Lisa A. Stewart purchased 248 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were bought at an average price of $112.06 per share, for a total transaction of $27,790.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas E. Jorden sold 2,500 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $122.88, for a total value of $307,200.00. The disclosure for this sale can be found here. Insiders sold 15,729 shares of company stock worth $1,800,003 in the last 90 days. 1.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Advisor Group Inc. increased its position in shares of Cimarex Energy by 5.3% in the second quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock worth $113,000 after purchasing an additional 60 shares during the period. Assetmark Inc. increased its position in shares of Cimarex Energy by 1,015.9% in the fourth quarter. Assetmark Inc. now owns 982 shares of the oil and gas producer’s stock worth $120,000 after purchasing an additional 894 shares during the period. LMR Partners LLP bought a new position in shares of Cimarex Energy in the fourth quarter worth $200,000. Eagle Ridge Investment Management bought a new position in shares of Cimarex Energy in the fourth quarter worth $204,000. Finally, Capital Advisors Inc. OK bought a new position in shares of Cimarex Energy in the fourth quarter worth $205,000. Institutional investors own 91.68% of the company’s stock.
Shares of Cimarex Energy (NYSE:XEC) traded down $0.42 during trading on Friday, reaching $97.92. The company’s stock had a trading volume of 1,627,563 shares, compared to its average volume of 1,340,000. Cimarex Energy has a fifty-two week low of $89.49 and a fifty-two week high of $130.16. The firm has a market cap of $9,330.00, a P/E ratio of 21.57 and a beta of 1.14. The company has a quick ratio of 1.42, a current ratio of 1.38 and a debt-to-equity ratio of 0.58.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Thursday, March 15th will be given a dividend of $0.16 per share. This is a boost from Cimarex Energy’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Monday, May 14th. This represents a $0.64 annualized dividend and a yield of 0.65%. Cimarex Energy’s dividend payout ratio (DPR) is presently 7.05%.
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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