Cimarex Energy Co (NYSE:XEC) Expected to Post Earnings of $1.20 Per Share

Equities research analysts expect that Cimarex Energy Co (NYSE:XEC) will post earnings per share of $1.20 for the current quarter, Zacks Investment Research reports. Twenty Three analysts have issued estimates for Cimarex Energy’s earnings, with estimates ranging from $0.85 to $1.65. Cimarex Energy posted earnings of $1.98 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 39.4%. The company is expected to report its next quarterly earnings results on Wednesday, February 19th.

According to Zacks, analysts expect that Cimarex Energy will report full-year earnings of $4.12 per share for the current year, with EPS estimates ranging from $3.65 to $4.58. For the next financial year, analysts anticipate that the company will report earnings of $5.63 per share, with EPS estimates ranging from $3.19 to $9.58. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Cimarex Energy.

Cimarex Energy (NYSE:XEC) last announced its earnings results on Monday, November 4th. The oil and gas producer reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.02). Cimarex Energy had a return on equity of 13.02% and a net margin of 21.13%. The company had revenue of $582.31 million during the quarter, compared to analysts’ expectations of $575.31 million. During the same quarter last year, the firm posted $1.99 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis.

Several analysts have weighed in on XEC shares. Piper Jaffray Companies set a $68.00 price target on shares of Cimarex Energy and gave the stock a “hold” rating in a research note on Friday, August 16th. KeyCorp lowered their price target on shares of Cimarex Energy from $60.00 to $54.00 and set an “overweight” rating for the company in a research note on Tuesday, October 15th. Imperial Capital lowered their price target on shares of Cimarex Energy from $58.00 to $51.00 and set an “in-line” rating for the company in a research note on Wednesday, August 7th. Bank of America lowered their price target on shares of Cimarex Energy from $87.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, Williams Capital reissued a “buy” rating and issued a $64.00 price target on shares of Cimarex Energy in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $73.16.

Several large investors have recently modified their holdings of the company. First Citizens Bank & Trust Co. raised its stake in shares of Cimarex Energy by 2.3% during the second quarter. First Citizens Bank & Trust Co. now owns 9,633 shares of the oil and gas producer’s stock valued at $572,000 after acquiring an additional 217 shares during the last quarter. CIBC Asset Management Inc raised its stake in Cimarex Energy by 2.6% in the second quarter. CIBC Asset Management Inc now owns 11,011 shares of the oil and gas producer’s stock worth $653,000 after buying an additional 275 shares in the last quarter. New Mexico Educational Retirement Board raised its stake in Cimarex Energy by 3.8% in the second quarter. New Mexico Educational Retirement Board now owns 8,300 shares of the oil and gas producer’s stock worth $492,000 after buying an additional 300 shares in the last quarter. Sippican Capital Advisors raised its stake in Cimarex Energy by 2.8% in the second quarter. Sippican Capital Advisors now owns 12,186 shares of the oil and gas producer’s stock worth $723,000 after buying an additional 330 shares in the last quarter. Finally, DNB Asset Management AS raised its stake in Cimarex Energy by 3.4% in the third quarter. DNB Asset Management AS now owns 11,005 shares of the oil and gas producer’s stock worth $528,000 after buying an additional 360 shares in the last quarter. 93.13% of the stock is owned by hedge funds and other institutional investors.

NYSE:XEC traded down $0.76 during midday trading on Friday, hitting $45.79. The company had a trading volume of 803,478 shares, compared to its average volume of 2,211,428. Cimarex Energy has a 52-week low of $37.19 and a 52-week high of $89.78. The stock’s fifty day moving average price is $45.10 and its 200-day moving average price is $51.06. The company has a market capitalization of $4.77 billion, a PE ratio of 6.19 and a beta of 1.32. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.56.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Thursday, November 14th. Cimarex Energy’s dividend payout ratio (DPR) is 10.81%.

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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