Zacks: Analysts Expect Cimarex Energy Co (XEC) to Announce $1.33 EPS
Brokerages predict that Cimarex Energy Co (NYSE:XEC) will announce earnings of $1.33 per share for the current quarter, Zacks Investment Research reports. Twenty One analysts have made estimates for Cimarex Energy’s earnings, with the highest EPS estimate coming in at $1.67 and the lowest estimate coming in at $0.79. Cimarex Energy posted earnings per share of $1.82 in the same quarter last year, which suggests a negative year over year growth rate of 26.9%. The business is expected to announce its next quarterly earnings results after the market closes on Wednesday, May 8th.
On average, analysts expect that Cimarex Energy will report full-year earnings of $6.75 per share for the current financial year, with EPS estimates ranging from $3.51 to $8.34. For the next fiscal year, analysts anticipate that the company will post earnings of $8.80 per share, with EPS estimates ranging from $4.39 to $18.69. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Cimarex Energy.
Cimarex Energy (NYSE:XEC) last posted its earnings results on Wednesday, February 20th. The oil and gas producer reported $1.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.75 by $0.23. The company had revenue of $624.10 million during the quarter, compared to analyst estimates of $620.20 million. Cimarex Energy had a return on equity of 23.51% and a net margin of 33.85%. The business’s revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.47 earnings per share.
NYSE:XEC opened at $68.69 on Wednesday. The company has a market cap of $6.97 billion, a PE ratio of 9.28 and a beta of 1.33. Cimarex Energy has a 52 week low of $55.62 and a 52 week high of $103.91. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.01 and a quick ratio of 1.93.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.16%. This is an increase from Cimarex Energy’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Tuesday, May 14th. Cimarex Energy’s dividend payout ratio is 9.73%.
In other Cimarex Energy news, Director Harold R. Logan, Jr. sold 990 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $70.00, for a total value of $69,300.00. Following the completion of the sale, the director now directly owns 7,259 shares in the company, valued at $508,130. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.70% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Cimarex Energy in the fourth quarter worth approximately $26,000. First Bank & Trust acquired a new stake in Cimarex Energy in the fourth quarter worth approximately $28,000. CSat Investment Advisory L.P. lifted its position in Cimarex Energy by 77.7% in the fourth quarter. CSat Investment Advisory L.P. now owns 549 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 240 shares during the period. Huntington National Bank lifted its position in Cimarex Energy by 948.3% in the fourth quarter. Huntington National Bank now owns 629 shares of the oil and gas producer’s stock worth $39,000 after purchasing an additional 569 shares during the period. Finally, Bremer Trust National Association acquired a new stake in Cimarex Energy in the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 94.29% of the company’s stock.
About Cimarex Energy
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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