Zacks: Analysts Expect Cimarex Energy (XEC) Will Announce Earnings of $1.64 Per Share
Wall Street analysts predict that Cimarex Energy (NYSE:XEC) will report earnings per share (EPS) of $1.64 for the current fiscal quarter, Zacks reports. Twenty Five analysts have made estimates for Cimarex Energy’s earnings. The highest EPS estimate is $1.95 and the lowest is $1.37. Cimarex Energy posted earnings of $1.05 per share during the same quarter last year, which suggests a positive year over year growth rate of 56.2%. The company is expected to announce its next quarterly earnings results after the market closes on Tuesday, May 8th.
On average, analysts expect that Cimarex Energy will report full-year earnings of $7.21 per share for the current financial year, with EPS estimates ranging from $5.93 to $9.21. For the next financial year, analysts forecast that the business will post earnings of $8.43 per share, with EPS estimates ranging from $6.46 to $10.21. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow Cimarex Energy.
Cimarex Energy (NYSE:XEC) last released its earnings results on Wednesday, February 14th. The oil and gas producer reported $1.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.07. Cimarex Energy had a net margin of 25.77% and a return on equity of 18.73%. The business had revenue of $550.90 million during the quarter, compared to analysts’ expectations of $537.74 million. During the same quarter last year, the company earned $0.60 earnings per share. The firm’s revenue was up 44.1% on a year-over-year basis.
In other news, Director Harold R. Logan, Jr. sold 1,900 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $97.82, for a total transaction of $185,858.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.70% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Boston Partners grew its stake in shares of Cimarex Energy by 28.0% during the fourth quarter. Boston Partners now owns 1,812,143 shares of the oil and gas producer’s stock valued at $221,100,000 after purchasing an additional 395,877 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Cimarex Energy by 11.4% during the fourth quarter. Wells Fargo & Company MN now owns 1,506,133 shares of the oil and gas producer’s stock valued at $183,763,000 after purchasing an additional 153,665 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Cimarex Energy by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 969,389 shares of the oil and gas producer’s stock valued at $118,015,000 after purchasing an additional 21,960 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Cimarex Energy by 226.7% during the fourth quarter. American Century Companies Inc. now owns 879,814 shares of the oil and gas producer’s stock valued at $107,346,000 after purchasing an additional 610,508 shares during the last quarter. Finally, APG Asset Management N.V. grew its stake in shares of Cimarex Energy by 6.6% during the fourth quarter. APG Asset Management N.V. now owns 792,417 shares of the oil and gas producer’s stock valued at $80,515,000 after purchasing an additional 49,300 shares during the last quarter. 92.50% of the stock is owned by institutional investors.
NYSE XEC opened at $96.72 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.38 and a quick ratio of 1.30. Cimarex Energy has a twelve month low of $87.98 and a twelve month high of $130.16. The stock has a market capitalization of $8,969.27, a P/E ratio of 20.80 and a beta of 1.19.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Thursday, March 15th will be issued a dividend of $0.16 per share. This is a positive change from Cimarex Energy’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Monday, May 14th. This represents a $0.64 annualized dividend and a dividend yield of 0.66%. Cimarex Energy’s dividend payout ratio (DPR) is presently 6.88%.
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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, 2017, it had a total proved oil and gas reserves of 3.35 trillion cubic feet equivalent (Tcfe) consisting of 1.61 trillion cubic feet of natural gas, 0.82 Tcfe of oil, and 0.92 Tcfe of natural gas liquids primarily located in the Mid-Continent and Permian Basin regions.
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