Cimarex Energy (NYSE:XEC) posted its quarterly earnings data on Sunday. The oil and gas producer reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.18, MarketWatch Earnings reports. Cimarex Energy had a positive return on equity of 7.29% and a negative net margin of 104.14%. The company had revenue of $434.70 million during the quarter, compared to analysts’ expectations of $421.94 million. During the same period last year, the firm earned $1.18 EPS. The firm’s revenue for the quarter was down 33.9% on a year-over-year basis.
Cimarex Energy stock traded up $4.11 during midday trading on Tuesday, reaching $56.12. The stock had a trading volume of 64,986 shares, compared to its average volume of 1,256,605. Cimarex Energy has a twelve month low of $12.15 and a twelve month high of $54.36. The stock has a market capitalization of $5.72 billion, a PE ratio of -2.57, a price-to-earnings-growth ratio of 8.75 and a beta of 2.40. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.74 and a current ratio of 0.84. The stock’s 50-day simple moving average is $46.84 and its 200 day simple moving average is $34.38.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 1st. Investors of record on Friday, May 14th will be issued a $0.27 dividend. The ex-dividend date is Thursday, May 13th. This represents a $1.08 dividend on an annualized basis and a yield of 1.92%. This is a boost from Cimarex Energy’s previous quarterly dividend of $0.22. Cimarex Energy’s dividend payout ratio (DPR) is presently 19.73%.
Several analysts have recently commented on the company. Truist cut Cimarex Energy from a “buy” rating to a “hold” rating and set a $40.00 price target for the company. in a report on Thursday, December 10th. Cowen raised their price objective on Cimarex Energy from $48.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, January 19th. Morgan Stanley raised their price target on Cimarex Energy from $53.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, January 15th. KeyCorp raised their price target on Cimarex Energy from $50.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, January 21st. Finally, The Goldman Sachs Group raised Cimarex Energy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $46.00 to $48.00 in a research report on Tuesday, December 15th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $42.40.
Cimarex Energy Company Profile
Cimarex Energy Co operates as an independent oil and gas exploration and production company primarily in Texas, Oklahoma, and New Mexico. As of December 31, 2019, it had a total proved reserves of 619.6 million barrels of oil equivalent, consisting of 1.53 trillion cubic feet of natural gas; 169.8 million barrels (MMBbls) of oil; and 194.5 MMBbls of natural gas liquids primarily located in the Permian Basin and Mid-Continent regions.
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