Brokerages forecast that Cimarex Energy Co (NYSE:XEC) will report sales of $452.73 million for the current fiscal quarter, Zacks Investment Research reports. Thirty analysts have issued estimates for Cimarex Energy’s earnings. The lowest sales estimate is $420.28 million and the highest is $490.28 million. Cimarex Energy posted sales of $298.87 million during the same quarter last year, which would indicate a positive year over year growth rate of 51.5%. The firm is scheduled 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 sales of $452.73 million for the current fiscal year, with estimates ranging from $1.75 billion to $2.09 billion. For the next fiscal year, analysts forecast that the business will post sales of $2.34 billion per share, with estimates ranging from $1.62 billion to $2.83 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Cimarex Energy.
Cimarex Energy (NYSE:XEC) last issued its quarterly earnings results on Wednesday, May 10th. The oil and gas producer reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.20. Cimarex Energy had a negative net margin of 7.78% and a positive return on equity of 9.03%. The firm had revenue of $447.20 million during the quarter, compared to the consensus estimate of $423.62 million. During the same period in the prior year, the firm earned ($0.40) EPS. The business’s revenue was up 85.9% on a year-over-year basis.
A number of equities research analysts have recently issued reports on XEC shares. FBR & Co set a $141.00 target price on shares of Cimarex Energy and gave the company a “buy” rating in a research report on Thursday, May 18th. Credit Suisse Group started coverage on shares of Cimarex Energy in a research report on Thursday, June 1st. They issued an “outperform” rating and a $138.00 target price for the company. Scotiabank set a $164.00 target price on shares of Cimarex Energy and gave the company a “buy” rating in a research report on Monday, March 27th. Barclays PLC reissued an “overweight” rating and issued a $129.00 target price (down previously from $139.00) on shares of Cimarex Energy in a research report on Saturday, April 22nd. Finally, Citigroup Inc. reissued a “buy” rating and issued a $166.00 target price (up previously from $164.00) on shares of Cimarex Energy in a research report on Saturday, April 22nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $138.90.
In other Cimarex Energy news, Director L Paul Teague sold 1,038 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $120.00, for a total transaction of $124,560.00. Following the completion of the sale, the director now owns 44,394 shares of the company’s stock, valued at approximately $5,327,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Stephen P. Bell sold 5,000 shares of the stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $117.24, for a total transaction of $586,200.00. The disclosure for this sale can be found here. Insiders sold 8,538 shares of company stock valued at $1,001,760 in the last ninety days. 1.70% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Sippican Capital Advisors increased its stake in Cimarex Energy by 9.7% in the second quarter. Sippican Capital Advisors now owns 6,767 shares of the oil and gas producer’s stock worth $636,000 after buying an additional 601 shares in the last quarter. Tealwood Asset Management Inc. purchased a new stake in Cimarex Energy during the second quarter worth $946,000. Louisiana State Employees Retirement System increased its stake in Cimarex Energy by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 5,900 shares of the oil and gas producer’s stock worth $555,000 after buying an additional 100 shares in the last quarter. LS Investment Advisors LLC increased its stake in Cimarex Energy by 14.6% in the second quarter. LS Investment Advisors LLC now owns 3,640 shares of the oil and gas producer’s stock worth $342,000 after buying an additional 464 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its stake in Cimarex Energy by 509.5% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 15,439 shares of the oil and gas producer’s stock worth $1,451,000 after buying an additional 12,906 shares in the last quarter. 92.70% of the stock is owned by institutional investors and hedge funds.
Cimarex Energy (NYSE XEC) traded down 0.20% during trading on Friday, hitting $93.94. 833,486 shares of the stock were exchanged. Cimarex Energy has a 52 week low of $89.49 and a 52 week high of $146.96. The firm has a 50-day moving average of $104.05 and a 200-day moving average of $121.82. The stock’s market capitalization is $8.77 billion.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.34%. The ex-dividend date is Friday, August 11th. Cimarex Energy’s dividend payout ratio is currently -25.20%.
Cimarex Energy Company Profile
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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