Cimarex Energy Co (XEC) Expected to Post Quarterly Sales of $451.19 Million
Analysts expect Cimarex Energy Co (NYSE:XEC) to report $451.19 million in sales for the current fiscal quarter, according to Zacks Investment Research. Twenty Five analysts have issued estimates for Cimarex Energy’s earnings, with the lowest sales estimate coming in at $427.00 million and the highest estimate coming in at $500.54 million. Cimarex Energy reported sales of $335.72 million during the same quarter last year, which indicates a positive year over year growth rate of 34.4%. The firm is scheduled to announce its next earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that Cimarex Energy will report full-year sales of $451.19 million for the current fiscal year, with estimates ranging from $1.75 billion to $1.91 billion. For the next financial year, analysts anticipate that the firm will report sales of $2.19 billion per share, with estimates ranging from $1.65 billion to $2.66 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Cimarex Energy.
Cimarex Energy (NYSE:XEC) last posted its earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.11. Cimarex Energy had a net margin of 15.64% and a return on equity of 13.29%. The firm had revenue of $456.50 million during the quarter, compared to the consensus estimate of $441.52 million. During the same quarter last year, the firm earned $0.07 EPS. The firm’s revenue for the quarter was up 52.7% on a year-over-year basis.
A number of equities analysts have weighed in on XEC shares. Scotiabank set a $143.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a research note on Saturday, July 1st. Stifel Nicolaus reaffirmed a “buy” rating on shares of Cimarex Energy in a research note on Wednesday, June 28th. BMO Capital Markets set a $150.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a research note on Monday, May 15th. Williams Capital raised shares of Cimarex Energy from a “hold” rating to a “buy” rating and increased their price target for the stock from $148.00 to $160.00 in a research note on Monday, May 15th. They noted that the move was a valuation call. Finally, KLR Group reaffirmed a “buy” rating and set a $151.00 price target (up previously from $149.00) on shares of Cimarex Energy in a research note on Wednesday, May 17th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $136.40.
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In other Cimarex Energy news, SVP John Lambuth sold 2,136 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $99.84, for a total transaction of $213,258.24. Following the completion of the transaction, the senior vice president now directly owns 106,532 shares of the company’s stock, valued at approximately $10,636,154.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Thomas E. Jorden sold 2,500 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $101.67, for a total transaction of $254,175.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,886 shares of company stock valued at $996,088. 1.70% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in XEC. Turner Investments LLC acquired a new position in Cimarex Energy during the 2nd quarter worth $100,000. Advisor Group Inc. grew its holdings in Cimarex Energy by 5.3% during the 2nd quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock worth $113,000 after acquiring an additional 60 shares in the last quarter. Global X Management Co. LLC grew its holdings in Cimarex Energy by 14.7% during the 2nd quarter. Global X Management Co. LLC now owns 1,265 shares of the oil and gas producer’s stock worth $119,000 after acquiring an additional 162 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Cimarex Energy by 0.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 1,427 shares of the oil and gas producer’s stock worth $134,000 after acquiring an additional 10 shares in the last quarter. Finally, Pacer Advisors Inc. grew its holdings in Cimarex Energy by 8.3% during the 2nd quarter. Pacer Advisors Inc. now owns 1,935 shares of the oil and gas producer’s stock worth $182,000 after acquiring an additional 148 shares in the last quarter. 91.31% of the stock is owned by institutional investors.
Shares of Cimarex Energy (XEC) opened at 100.32 on Tuesday. The firm has a market cap of $9.37 billion, a P/E ratio of 35.93 and a beta of 1.32. Cimarex Energy has a 12-month low of $89.49 and a 12-month high of $146.96. The company has a 50-day moving average of $98.09 and a 200 day moving average of $107.67.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend is Tuesday, November 14th. Cimarex Energy’s dividend payout ratio is currently 12.03%.
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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