Zacks: Analysts Anticipate Cimarex Energy Co (XEC) to Post $1.03 Earnings Per Share
Wall Street analysts expect Cimarex Energy Co (NYSE:XEC) to report earnings per share (EPS) of $1.03 for the current quarter, Zacks Investment Research reports. Thirty One analysts have issued estimates for Cimarex Energy’s earnings, with estimates ranging from $0.81 to $1.22. Cimarex Energy posted earnings per share of $0.07 in the same quarter last year, which indicates a positive year-over-year growth rate of 1,371.4%. The company is expected to issue its next earnings report on Wednesday, August 2nd.
On average, analysts expect that Cimarex Energy will report full year earnings of $4.65 per share for the current financial year, with EPS estimates ranging from $3.49 to $5.76. For the next fiscal year, analysts anticipate that the business will report earnings of $6.24 per share, with EPS estimates ranging from $2.28 to $9.60. Zacks’ earnings per share 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 Wednesday, May 10th. The oil and gas producer reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.20. The firm had revenue of $447.20 million during the quarter, compared to analyst estimates of $423.62 million. Cimarex Energy had a negative net margin of 7.78% and a positive return on equity of 9.03%. The business’s quarterly revenue was up 85.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.40) EPS.
XEC has been the topic of several analyst reports. FBR & Co set a $141.00 target price on Cimarex Energy and gave the company a “buy” rating in a research note on Thursday, May 18th. Credit Suisse Group initiated coverage on Cimarex Energy in a research note on Thursday, June 1st. They issued an “outperform” rating and a $138.00 target price on the stock. Scotiabank set a $164.00 target price on Cimarex Energy and gave the company a “buy” rating in a research note on Monday, March 27th. Barclays PLC reiterated an “overweight” rating and issued a $129.00 target price (down previously from $139.00) on shares of Cimarex Energy in a research note on Saturday, April 22nd. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $166.00 target price (up previously from $164.00) on shares of Cimarex Energy in a research note on Saturday, April 22nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company. Cimarex Energy currently has a consensus rating of “Buy” and a consensus target price of $141.23.
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In other Cimarex Energy news, CEO Thomas E. Jorden sold 2,500 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $116.40, for a total value of $291,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director L Paul Teague sold 1,038 shares of the company’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $120.00, for a total value of $124,560.00. Following the completion of the sale, the director now owns 44,394 shares of the company’s stock, valued at $5,327,280. The disclosure for this sale can be found here. Insiders have sold 8,538 shares of company stock valued at $1,001,760 over the last quarter. 1.70% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of XEC. Public Employees Retirement System of Ohio boosted its stake in shares of Cimarex Energy by 2.7% in the first quarter. Public Employees Retirement System of Ohio now owns 51,868 shares of the oil and gas producer’s stock valued at $6,198,000 after buying an additional 1,350 shares during the last quarter. Boston Common Asset Management LLC boosted its stake in shares of Cimarex Energy by 31.0% in the first quarter. Boston Common Asset Management LLC now owns 40,833 shares of the oil and gas producer’s stock valued at $4,879,000 after buying an additional 9,659 shares during the last quarter. Achmea Investment Management B.V. bought a new stake in shares of Cimarex Energy during the first quarter valued at about $534,000. Bank of Nova Scotia boosted its stake in shares of Cimarex Energy by 913.7% in the first quarter. Bank of Nova Scotia now owns 21,704 shares of the oil and gas producer’s stock valued at $2,593,000 after buying an additional 19,563 shares during the last quarter. Finally, Janus Capital Management LLC boosted its stake in shares of Cimarex Energy by 52.1% in the first quarter. Janus Capital Management LLC now owns 712,058 shares of the oil and gas producer’s stock valued at $85,084,000 after buying an additional 243,969 shares during the last quarter. Institutional investors own 93.12% of the company’s stock.
Shares of Cimarex Energy (XEC) traded up 1.83% during midday trading on Monday, hitting $93.00. 2,357,323 shares of the stock were exchanged. Cimarex Energy has a 52-week low of $91.26 and a 52-week high of $146.96. The firm’s 50-day moving average is $109.22 and its 200 day moving average is $124.06. The firm’s market cap is $8.69 billion.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.34%. The ex-dividend date is Friday, August 11th. Cimarex Energy’s payout ratio is -25.20%.
About Cimarex Energy
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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