Brokerages forecast that Cimarex Energy Co (NYSE:XEC) will post $1.01 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Thirty analysts have made estimates for Cimarex Energy’s earnings, with the lowest EPS estimate coming in at $0.81 and the highest estimate coming in at $1.22. Cimarex Energy reported earnings of $0.07 per share during the same quarter last year, which would suggest a positive year over year growth rate of 1,342.9%. The business is expected to announce its next quarterly earnings results after the market closes on Tuesday, August 8th.
On average, analysts expect that Cimarex Energy will report full-year earnings of $4.52 per share for the current fiscal year, with EPS estimates ranging from $3.49 to $5.76. For the next year, analysts expect that the business will report earnings of $5.98 per share, with EPS estimates ranging from $2.28 to $9.60. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Cimarex Energy.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings data on Wednesday, May 10th. The oil and gas producer reported $1.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.20. The business had revenue of $447.20 million during the quarter, compared to analysts’ expectations of $423.62 million. Cimarex Energy had a positive return on equity of 9.03% and a negative net margin of 7.78%. The company’s revenue for the quarter was up 85.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.40) EPS.
XEC has been the subject of a number of recent analyst reports. UBS AG restated a “neutral” rating and issued a $134.00 price objective (up previously from $131.00) on shares of Cimarex Energy in a research report on Friday, May 12th. Scotiabank set a $143.00 price target on shares of Cimarex Energy and gave the company a “buy” rating in a research report on Saturday, July 1st. Jefferies Group LLC reiterated a “hold” rating and set a $119.00 price target on shares of Cimarex Energy in a research report on Thursday, July 6th. Citigroup Inc. reduced their price target on shares of Cimarex Energy from $150.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, July 13th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $169.00 price target on shares of Cimarex Energy in a research report on Friday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the company’s stock. Cimarex Energy currently has a consensus rating of “Hold” and an average price target of $138.90.
Shares of Cimarex Energy (XEC) traded down 0.20% during trading on Thursday, hitting $93.94. The stock had a trading volume of 833,486 shares. The stock’s market cap is $8.77 billion. The stock’s 50-day moving average is $104.05 and its 200-day moving average is $121.82. Cimarex Energy has a 12-month low of $89.49 and a 12-month high of $146.96.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be issued a $0.08 dividend. The ex-dividend date is Friday, August 11th. This represents a $0.32 dividend on an annualized basis and a yield of 0.34%. Cimarex Energy’s dividend payout ratio is currently -25.20%.
In related news, CEO Thomas E. Jorden sold 2,500 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $116.40, for a total transaction of $291,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director L Paul Teague sold 1,038 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $120.00, for a total transaction of $124,560.00. Following the sale, the director now directly owns 44,394 shares of the company’s stock, valued at approximately $5,327,280. The disclosure for this sale can be found here. Insiders sold a total of 8,538 shares of company stock worth $1,001,760 in the last quarter. 1.70% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC purchased a new position in Cimarex Energy during the fourth quarter valued at approximately $7,189,000. Ladenburg Thalmann Financial Services Inc. boosted its position in Cimarex Energy by 8.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 882 shares of the oil and gas producer’s stock valued at $122,000 after buying an additional 69 shares during the period. Putnam Investments LLC boosted its position in Cimarex Energy by 7.6% in the fourth quarter. Putnam Investments LLC now owns 11,502 shares of the oil and gas producer’s stock valued at $1,563,000 after buying an additional 817 shares during the period. Elkhorn Investments LLC purchased a new position in Cimarex Energy during the fourth quarter valued at approximately $869,000. Finally, Quadrature Capital Ltd boosted its position in Cimarex Energy by 122.8% in the fourth quarter. Quadrature Capital Ltd now owns 12,125 shares of the oil and gas producer’s stock valued at $1,648,000 after buying an additional 6,683 shares during the period. Hedge funds and other institutional investors own 92.70% of the company’s stock.
About Cimarex Energy
Cimarex Energy Co is an independent oil and gas exploration and production company. The Company operates in exploration and production (E&P) segment. Its operations are located in Oklahoma, Texas and New Mexico. Its E&P activities take place primarily in two areas: the Permian Basin and the Mid-Continent region.
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