Analysts expect that Cimarex Energy Co (NYSE:XEC) will post sales of $573.62 million for the current quarter, Zacks Investment Research reports. Twenty One analysts have made estimates for Cimarex Energy’s earnings, with estimates ranging from $526.12 million to $639.44 million. Cimarex Energy reported sales of $463.68 million during the same quarter last year, which would indicate a positive year over year growth rate of 23.7%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, November 6th.

On average, analysts expect that Cimarex Energy will report full-year sales of $2.32 billion for the current year, with estimates ranging from $2.24 billion to $2.45 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.67 billion per share, with estimates ranging from $2.34 billion to $3.21 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Cimarex Energy.

Cimarex Energy (NYSE:XEC) last announced its quarterly earnings data on Tuesday, August 7th. The oil and gas producer reported $1.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.05). Cimarex Energy had a return on equity of 21.47% and a net margin of 27.75%. The company had revenue of $556.27 million for the quarter, compared to the consensus estimate of $557.26 million.

A number of equities research analysts recently weighed in on XEC shares. ValuEngine cut Cimarex Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, July 3rd. JPMorgan Chase & Co. cut Cimarex Energy from an “overweight” rating to a “neutral” rating and set a $110.00 price target on the stock. in a research note on Wednesday, August 8th. Williams Capital restated a “buy” rating and issued a $134.00 price target on shares of Cimarex Energy in a research note on Wednesday, August 8th. Credit Suisse Group dropped their price target on Cimarex Energy from $116.00 to $112.00 and set a “buy” rating on the stock in a research note on Wednesday, August 8th. Finally, Morgan Stanley dropped their price target on Cimarex Energy from $135.00 to $124.00 and set an “overweight” rating on the stock in a research note on Thursday, July 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have given a buy rating to the company’s stock. Cimarex Energy has an average rating of “Buy” and an average target price of $130.62.

XEC traded up $2.28 during trading hours on Wednesday, reaching $94.62. The company’s stock had a trading volume of 1,133,600 shares, compared to its average volume of 1,398,171. Cimarex Energy has a 52 week low of $80.53 and a 52 week high of $130.16. The company has a current ratio of 1.34, a quick ratio of 1.27 and a debt-to-equity ratio of 0.52. The stock has a market cap of $8.81 billion, a PE ratio of 20.22 and a beta of 1.05.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Thursday, November 15th will be given a dividend of $0.18 per share. This is a boost from Cimarex Energy’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.72 annualized dividend and a yield of 0.76%. Cimarex Energy’s dividend payout ratio (DPR) is presently 13.76%.

In other Cimarex Energy news, COO Joseph R. Albi sold 1,750 shares of the stock in a transaction on Wednesday, June 27th. The stock was sold at an average price of $100.10, for a total transaction of $175,175.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director L Paul Teague sold 1,040 shares of the stock in a transaction on Wednesday, June 27th. The stock was sold at an average price of $100.10, for a total value of $104,104.00. Following the transaction, the director now owns 40,106 shares in the company, valued at approximately $4,014,610.60. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. Mount Yale Investment Advisors LLC acquired a new stake in shares of Cimarex Energy during the 2nd quarter worth $115,000. Point72 Hong Kong Ltd acquired a new stake in shares of Cimarex Energy during the 2nd quarter worth $161,000. Eagle Boston Investment Management Inc. acquired a new stake in shares of Cimarex Energy during the 2nd quarter worth $204,000. Delta Capital Management LLC acquired a new stake in shares of Cimarex Energy during the 2nd quarter worth $207,000. Finally, Rampart Investment Management Company LLC grew its holdings in shares of Cimarex Energy by 77.3% during the 1st quarter. Rampart Investment Management Company LLC now owns 2,073 shares of the oil and gas producer’s stock worth $194,000 after purchasing an additional 904 shares in the last quarter. Hedge funds and other institutional investors own 94.96% of the company’s stock.

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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Earnings History and Estimates for Cimarex Energy (NYSE:XEC)

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