Equities research analysts forecast that Cimarex Energy Co (NYSE:XEC) will report $634.58 million in sales for the current fiscal quarter, according to Zacks Investment Research. Twenty Four analysts have provided estimates for Cimarex Energy’s earnings, with the lowest sales estimate coming in at $567.00 million and the highest estimate coming in at $726.47 million. Cimarex Energy reported sales of $556.27 million in the same quarter last year, which would suggest a positive year over year growth rate of 14.1%. The company is scheduled to report its next quarterly earnings report after the market closes on Monday, August 5th.
According to Zacks, analysts expect that Cimarex Energy will report full year sales of $2.56 billion for the current financial year, with estimates ranging from $2.32 billion to $2.91 billion. For the next year, analysts forecast that the company will post sales of $2.98 billion, with estimates ranging from $2.42 billion to $4.22 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Cimarex Energy.
Cimarex Energy (NYSE:XEC) last released its quarterly earnings data on Wednesday, May 8th. The oil and gas producer reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.17). The firm had revenue of $577.00 million for the quarter, compared to analyst estimates of $581.51 million. Cimarex Energy had a net margin of 26.90% and a return on equity of 19.95%. Cimarex Energy’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.82 EPS.
XEC has been the topic of several research reports. KeyCorp initiated coverage on Cimarex Energy in a research note on Thursday, June 27th. They set an “overweight” rating and a $66.00 price target on the stock. Morgan Stanley set a $85.00 price objective on Cimarex Energy and gave the stock a “buy” rating in a report on Monday, June 24th. Robert W. Baird reaffirmed an “outperform” rating and set a $82.00 price objective (down previously from $110.00) on shares of Cimarex Energy in a report on Wednesday, June 5th. Capital One Financial upgraded shares of Cimarex Energy from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 23rd. Finally, Wells Fargo & Co initiated coverage on shares of Cimarex Energy in a research report on Monday, May 20th. They set a “market perform” rating and a $86.00 target price for the company. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $99.89.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in XEC. Sippican Capital Advisors lifted its stake in shares of Cimarex Energy by 1.4% during the 1st quarter. Sippican Capital Advisors now owns 11,856 shares of the oil and gas producer’s stock valued at $829,000 after buying an additional 162 shares in the last quarter. World Asset Management Inc increased its holdings in Cimarex Energy by 3.2% during the 1st quarter. World Asset Management Inc now owns 5,457 shares of the oil and gas producer’s stock worth $381,000 after acquiring an additional 171 shares during the period. CSat Investment Advisory L.P. increased its holdings in shares of Cimarex Energy by 77.7% in the 4th quarter. CSat Investment Advisory L.P. now owns 549 shares of the oil and gas producer’s stock worth $34,000 after buying an additional 240 shares during the last quarter. Metropolitan Life Insurance Co NY increased its holdings in shares of Cimarex Energy by 2.1% in the 1st quarter. Metropolitan Life Insurance Co NY now owns 14,624 shares of the oil and gas producer’s stock worth $1,022,000 after buying an additional 306 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. increased its holdings in shares of Cimarex Energy by 41.1% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 1,060 shares of the oil and gas producer’s stock worth $65,000 after buying an additional 309 shares during the last quarter. Hedge funds and other institutional investors own 93.28% of the company’s stock.
Shares of NYSE:XEC opened at $59.13 on Thursday. The company has a quick ratio of 0.59, a current ratio of 0.66 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average of $59.35. The firm has a market capitalization of $6.00 billion, a PE ratio of 8.75 and a beta of 1.31. Cimarex Energy has a fifty-two week low of $53.45 and a fifty-two week high of $103.73.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Wednesday, August 14th. Cimarex Energy’s payout ratio is 10.81%.
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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