Cimarex Energy Co (NYSE:XEC) – Equities researchers at Scotiabank dropped their Q2 2020 EPS estimates for Cimarex Energy in a note issued to investors on Tuesday, July 28th. Scotiabank analyst M. Sorenson now forecasts that the oil and gas producer will post earnings per share of ($0.41) for the quarter, down from their previous estimate of ($0.35). Scotiabank has a “Sector Perform” rating and a $35.00 price target on the stock. Scotiabank also issued estimates for Cimarex Energy’s FY2020 earnings at $0.06 EPS, Q2 2022 earnings at $1.02 EPS, FY2022 earnings at $4.18 EPS and FY2024 earnings at $8.15 EPS.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings results on Wednesday, May 6th. The oil and gas producer reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.17. Cimarex Energy had a negative net margin of 44.65% and a positive return on equity of 10.09%. The firm had revenue of $472.83 million during the quarter, compared to analyst estimates of $504.50 million. During the same period in the previous year, the business earned $1.20 EPS. The business’s revenue for the quarter was down 18.0% on a year-over-year basis.
Shares of NYSE:XEC opened at $24.46 on Friday. Cimarex Energy has a 52-week low of $12.15 and a 52-week high of $55.29. The firm has a fifty day moving average of $27.03 and a 200 day moving average of $28.90. The firm has a market capitalization of $2.52 billion, a PE ratio of -2.40 and a beta of 2.31. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.01 and a current ratio of 1.08.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Thursday, August 13th. Cimarex Energy’s payout ratio is presently 19.73%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank boosted its position in shares of Cimarex Energy by 8.9% during the second quarter. Comerica Bank now owns 64,438 shares of the oil and gas producer’s stock valued at $1,704,000 after purchasing an additional 5,261 shares in the last quarter. UBS Group AG boosted its position in shares of Cimarex Energy by 58.6% during the second quarter. UBS Group AG now owns 93,884 shares of the oil and gas producer’s stock valued at $2,581,000 after purchasing an additional 34,700 shares in the last quarter. Northeast Financial Consultants Inc bought a new stake in shares of Cimarex Energy during the second quarter valued at approximately $227,000. State of Michigan Retirement System boosted its position in shares of Cimarex Energy by 32.0% during the second quarter. State of Michigan Retirement System now owns 37,192 shares of the oil and gas producer’s stock valued at $1,022,000 after purchasing an additional 9,012 shares in the last quarter. Finally, Duality Advisers LP bought a new stake in shares of Cimarex Energy during the second quarter valued at approximately $6,021,000. Institutional investors own 95.55% of the company’s stock.
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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