Cimarex Energy Co (XEC) Expected to Announce Earnings of $1.27 Per Share

Analysts expect Cimarex Energy Co (NYSE:XEC) to report earnings per share (EPS) of $1.27 for the current quarter, according to Zacks Investment Research. Nineteen analysts have issued estimates for Cimarex Energy’s earnings. The lowest EPS estimate is $0.79 and the highest is $1.87. Cimarex Energy reported earnings per share of $1.82 in the same quarter last year, which would indicate a negative year-over-year growth rate of 30.2%. The business is expected to report its next quarterly earnings results on Tuesday, May 14th.

According to Zacks, analysts expect that Cimarex Energy will report full-year earnings of $5.64 per share for the current year, with EPS estimates ranging from $3.51 to $7.92. For the next fiscal year, analysts forecast that the firm will post earnings of $8.12 per share, with EPS estimates ranging from $4.39 to $18.63. Zacks’ earnings per share calculations are an average based on a survey of research analysts that cover Cimarex Energy.

Cimarex Energy (NYSE:XEC) last released its quarterly earnings data on Wednesday, February 20th. The oil and gas producer reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.23. The business had revenue of $624.10 million during the quarter, compared to analyst estimates of $620.20 million. Cimarex Energy had a net margin of 33.85% and a return on equity of 23.51%. Cimarex Energy’s revenue was up 13.3% compared to the same quarter last year. During the same period last year, the business earned $1.47 EPS.



XEC has been the topic of several research reports. Williams Capital set a $129.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Monday, November 19th. Imperial Capital restated an “in-line” rating on shares of Cimarex Energy in a research report on Tuesday, November 20th. Morgan Stanley boosted their price target on shares of Cimarex Energy from $124.00 to $127.00 and gave the stock a “buy” rating in a research report on Tuesday, November 20th. Jefferies Financial Group set a $117.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Tuesday, November 20th. Finally, Cowen initiated coverage on shares of Cimarex Energy in a research report on Thursday, November 29th. They issued a “market perform” rating and a $95.00 price target on the stock. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $108.42.

NYSE:XEC traded down $0.45 on Friday, reaching $70.07. 20,555 shares of the stock traded hands, compared to its average volume of 1,429,306. Cimarex Energy has a 12 month low of $55.62 and a 12 month high of $103.91. The firm has a market cap of $6.73 billion, a P/E ratio of 9.47 and a beta of 1.34. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.93 and a current ratio of 2.01.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.20 per share. This is a positive change from Cimarex Energy’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Tuesday, May 14th. Cimarex Energy’s payout ratio is currently 9.73%.

Several institutional investors and hedge funds have recently modified their holdings of XEC. Capital International Investors bought a new stake in shares of Cimarex Energy in the 3rd quarter valued at about $418,230,000. Norges Bank acquired a new position in shares of Cimarex Energy during the fourth quarter valued at about $52,408,000. Victory Capital Management Inc. grew its holdings in shares of Cimarex Energy by 26.3% during the fourth quarter. Victory Capital Management Inc. now owns 2,998,167 shares of the oil and gas producer’s stock valued at $184,836,000 after buying an additional 624,486 shares during the last quarter. Caymus Capital Partners L.P. acquired a new position in shares of Cimarex Energy during the third quarter valued at about $43,577,000. Finally, Diamond Hill Capital Management Inc. grew its holdings in shares of Cimarex Energy by 7.9% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 6,068,484 shares of the oil and gas producer’s stock valued at $374,122,000 after buying an additional 445,153 shares during the last quarter. 99.60% of the stock is owned by hedge funds and other institutional investors.

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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