$1.21 Earnings Per Share Expected for Cimarex Energy Co (NYSE:XEC) This Quarter

Wall Street brokerages predict that Cimarex Energy Co (NYSE:XEC) will announce $1.21 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Twenty Five analysts have provided estimates for Cimarex Energy’s earnings. The highest EPS estimate is $2.21 and the lowest is $0.63. Cimarex Energy reported earnings of $1.99 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 39.2%. The firm is expected to announce its next quarterly earnings report on Tuesday, November 5th.

According to Zacks, analysts expect that Cimarex Energy will report full year earnings of $4.90 per share for the current financial year, with EPS estimates ranging from $3.59 to $6.56. For the next year, analysts anticipate that the firm will post earnings of $7.06 per share, with EPS estimates ranging from $4.16 to $15.99. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Cimarex Energy.

Cimarex Energy (NYSE:XEC) last announced its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.38). Cimarex Energy had a net margin of 25.66% and a return on equity of 16.59%. The firm had revenue of $546.46 million for the quarter, compared to the consensus estimate of $594.90 million. During the same period in the previous year, the company posted $1.59 earnings per share. Cimarex Energy’s quarterly revenue was down 1.8% on a year-over-year basis.



XEC has been the subject of a number of research reports. Capital One Financial raised Cimarex Energy from an “equal weight” rating to an “overweight” rating in a research note on Thursday, May 23rd. Robert W. Baird reissued an “outperform” rating and set a $82.00 price target (down from $110.00) on shares of Cimarex Energy in a research note on Wednesday, June 5th. Citigroup dropped their price target on Cimarex Energy from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Piper Jaffray Companies set a $68.00 price objective on Cimarex Energy and gave the company a “hold” rating in a research note on Friday, August 16th. Finally, BMO Capital Markets lowered Cimarex Energy from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $82.00 to $67.00 in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company. Cimarex Energy currently has a consensus rating of “Hold” and a consensus price target of $77.39.

Cimarex Energy stock traded up $0.28 during midday trading on Friday, reaching $40.93. 20,721 shares of the stock traded hands, compared to its average volume of 2,032,419. The stock’s fifty day moving average is $48.57 and its 200-day moving average is $62.41. Cimarex Energy has a 12 month low of $37.89 and a 12 month high of $101.19. The stock has a market cap of $4.25 billion, a P/E ratio of 5.53 and a beta of 1.30. The company has a quick ratio of 0.57, a current ratio of 0.64 and a debt-to-equity ratio of 0.56.

Large investors have recently made changes to their positions in the company. Quantamental Technologies LLC acquired a new stake in shares of Cimarex Energy in the 1st quarter worth $31,000. Valeo Financial Advisors LLC boosted its position in shares of Cimarex Energy by 319.8% in the 2nd quarter. Valeo Financial Advisors LLC now owns 487 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 371 shares in the last quarter. Nvwm LLC boosted its position in shares of Cimarex Energy by 462.0% in the 1st quarter. Nvwm LLC now owns 517 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 425 shares in the last quarter. Advisory Services Network LLC boosted its position in shares of Cimarex Energy by 1,170.2% in the 2nd quarter. Advisory Services Network LLC now owns 597 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 550 shares in the last quarter. Finally, Bremer Bank National Association acquired a new stake in shares of Cimarex Energy in the 1st quarter worth $48,000. Institutional investors and hedge funds own 95.69% of the company’s stock.

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, 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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Earnings History and Estimates for Cimarex Energy (NYSE:XEC)

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