Equities research analysts predict that Cimarex Energy Co (NYSE:XEC) will report sales of $640.34 million for the current quarter, according to Zacks. Twenty One analysts have made estimates for Cimarex Energy’s earnings, with the highest sales estimate coming in at $726.47 million and the lowest estimate coming in at $567.00 million. Cimarex Energy reported sales of $556.27 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 15.1%. The firm is expected to announce 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 year, with estimates ranging from $2.35 billion to $2.91 billion. For the next financial year, analysts expect that the business will post sales of $3.05 billion, with estimates ranging from $2.42 billion to $4.22 billion. Zacks’ sales calculations 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 data on Wednesday, May 8th. The oil and gas producer reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.17). The firm had revenue of $577.00 million for the quarter, compared to analysts’ expectations of $581.51 million. Cimarex Energy had a net margin of 26.90% and a return on equity of 19.95%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.82 EPS.
In other news, Director Harold R. Logan, Jr. sold 990 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $70.00, for a total value of $69,300.00. Following the transaction, the director now owns 7,259 shares of the company’s stock, valued at approximately $508,130. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.70% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Boston Partners raised its stake in shares of Cimarex Energy by 20.1% in the 1st quarter. Boston Partners now owns 6,989,669 shares of the oil and gas producer’s stock valued at $488,578,000 after acquiring an additional 1,169,027 shares during the period. BlackRock Inc. raised its stake in shares of Cimarex Energy by 7.6% in the 1st quarter. BlackRock Inc. now owns 6,979,085 shares of the oil and gas producer’s stock valued at $487,836,000 after acquiring an additional 494,463 shares during the period. Diamond Hill Capital Management Inc. raised its stake in shares of Cimarex Energy by 7.9% in the 4th 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 acquiring an additional 445,153 shares during the period. Victory Capital Management Inc. raised its stake in shares of Cimarex Energy by 4.9% in the 1st quarter. Victory Capital Management Inc. now owns 3,144,463 shares of the oil and gas producer’s stock valued at $219,798,000 after acquiring an additional 146,296 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Cimarex Energy by 24.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,565,248 shares of the oil and gas producer’s stock valued at $109,420,000 after acquiring an additional 305,864 shares during the period. 95.93% of the stock is currently owned by institutional investors and hedge funds.
Shares of XEC opened at $71.41 on Friday. 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 company has a market cap of $6.95 billion, a P/E ratio of 9.65 and a beta of 1.31. Cimarex Energy has a 1 year low of $55.62 and a 1 year high of $103.91.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Wednesday, August 14th. Cimarex Energy’s dividend payout ratio is presently 10.81%.
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, 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.
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