Analysts Anticipate Cimarex Energy Co (XEC) Will Announce Earnings of $0.96 Per Share

Analysts expect Cimarex Energy Co (NYSE:XEC) to post $0.96 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Twenty Six analysts have issued estimates for Cimarex Energy’s earnings. The highest EPS estimate is $1.27 and the lowest is $0.79. Cimarex Energy reported earnings of $0.41 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 134.1%. The company is expected to announce its next quarterly earnings results after the market closes on Tuesday, November 7th.

On average, analysts expect that Cimarex Energy will report full-year earnings of $4.20 per share for the current year, with EPS estimates ranging from $3.76 to $4.69. For the next fiscal year, analysts anticipate that the business will post earnings of $5.29 per share, with EPS estimates ranging from $2.60 to $7.80. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow Cimarex Energy.

Cimarex Energy (NYSE:XEC) last released its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.11. Cimarex Energy had a net margin of 15.64% and a return on equity of 13.29%. The company had revenue of $456.50 million during the quarter, compared to analysts’ expectations of $441.52 million. During the same quarter in the previous year, the company earned $0.07 earnings per share. The firm’s revenue for the quarter was up 52.7% on a year-over-year basis.

Several equities analysts have weighed in on the stock. Williams Capital raised their target price on shares of Cimarex Energy from $132.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday. Scotiabank set a $143.00 target price on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Saturday, July 1st. Citigroup Inc. reissued a “buy” rating and issued a $120.00 target price on shares of Cimarex Energy in a research report on Friday, October 13th. Jefferies Group LLC set a $98.00 target price on shares of Cimarex Energy and gave the stock a “hold” rating in a research report on Tuesday, August 29th. Finally, BidaskClub upgraded shares of Cimarex Energy from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the stock. Cimarex Energy presently has an average rating of “Buy” and a consensus target price of $135.05.

In related news, CEO Thomas E. Jorden sold 2,500 shares of Cimarex Energy stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $101.67, for a total value of $254,175.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Joseph R. Albi sold 2,000 shares of Cimarex Energy stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $106.16, for a total value of $212,320.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,299 shares of company stock worth $2,204,271. 1.70% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Cimarex Energy by 0.7% in the second quarter. Vanguard Group Inc. now owns 9,899,309 shares of the oil and gas producer’s stock valued at $930,634,000 after purchasing an additional 64,420 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Cimarex Energy by 5.2% during the 2nd quarter. BlackRock Inc. now owns 7,512,811 shares of the oil and gas producer’s stock worth $706,278,000 after acquiring an additional 371,390 shares during the period. State Street Corp boosted its stake in shares of Cimarex Energy by 3.0% during the 2nd quarter. State Street Corp now owns 5,458,745 shares of the oil and gas producer’s stock worth $513,162,000 after acquiring an additional 157,612 shares during the period. FMR LLC boosted its stake in shares of Cimarex Energy by 1.4% during the 2nd quarter. FMR LLC now owns 4,224,735 shares of the oil and gas producer’s stock worth $397,166,000 after acquiring an additional 59,537 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its stake in shares of Cimarex Energy by 8.2% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 4,063,310 shares of the oil and gas producer’s stock worth $381,992,000 after acquiring an additional 307,581 shares during the period. Hedge funds and other institutional investors own 90.06% of the company’s stock.

Shares of Cimarex Energy (NYSE:XEC) opened at 116.32 on Wednesday. The stock has a 50 day moving average of $108.67 and a 200 day moving average of $105.94. Cimarex Energy has a 12 month low of $89.49 and a 12 month high of $146.96. The firm has a market cap of $10.86 billion, a price-to-earnings ratio of 41.66 and a beta of 1.35.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend is Tuesday, November 14th. Cimarex Energy’s dividend payout ratio is currently 12.03%.

WARNING: “Analysts Anticipate Cimarex Energy Co (XEC) Will Announce Earnings of $0.96 Per Share” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this article on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark law. The correct version of this article can be read at https://ledgergazette.com/2017/10/18/analysts-anticipate-cimarex-energy-co-xec-will-announce-earnings-of-0-96-per-share.html.

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.

Get a free copy of the Zacks research report on Cimarex

On average, analysts expect that Cimarex Energy will report full-year earnings of $4.20 per share for the current year, with EPS estimates ranging from $3.76 to $4.69. For the next fiscal year, analysts anticipate that the business will post earnings of $5.29 per share, with EPS estimates ranging from $2.60 to $7.80. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow Cimarex Energy.

Cimarex Energy (NYSE:XEC) last released its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.11. Cimarex Energy had a net margin of 15.64% and a return on equity of 13.29%. The company had revenue of $456.50 million during the quarter, compared to analysts’ expectations of $441.52 million. During the same quarter in the previous year, the company earned $0.07 earnings per share. The firm’s revenue for the quarter was up 52.7% on a year-over-year basis.

Several equities analysts have weighed in on the stock. Williams Capital raised their target price on shares of Cimarex Energy from $132.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday. Scotiabank set a $143.00 target price on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Saturday, July 1st. Citigroup Inc. reissued a “buy” rating and issued a $120.00 target price on shares of Cimarex Energy in a research report on Friday, October 13th. Jefferies Group LLC set a $98.00 target price on shares of Cimarex Energy and gave the stock a “hold” rating in a research report on Tuesday, August 29th. Finally, BidaskClub upgraded shares of Cimarex Energy from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the stock. Cimarex Energy presently has an average rating of “Buy” and a consensus target price of $135.05.

In related news, CEO Thomas E. Jorden sold 2,500 shares of Cimarex Energy stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $101.67, for a total value of $254,175.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Joseph R. Albi sold 2,000 shares of Cimarex Energy stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $106.16, for a total value of $212,320.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,299 shares of company stock worth $2,204,271. 1.70% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Cimarex Energy by 0.7% in the second quarter. Vanguard Group Inc. now owns 9,899,309 shares of the oil and gas producer’s stock valued at $930,634,000 after purchasing an additional 64,420 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Cimarex Energy by 5.2% during the 2nd quarter. BlackRock Inc. now owns 7,512,811 shares of the oil and gas producer’s stock worth $706,278,000 after acquiring an additional 371,390 shares during the period. State Street Corp boosted its stake in shares of Cimarex Energy by 3.0% during the 2nd quarter. State Street Corp now owns 5,458,745 shares of the oil and gas producer’s stock worth $513,162,000 after acquiring an additional 157,612 shares during the period. FMR LLC boosted its stake in shares of Cimarex Energy by 1.4% during the 2nd quarter. FMR LLC now owns 4,224,735 shares of the oil and gas producer’s stock worth $397,166,000 after acquiring an additional 59,537 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its stake in shares of Cimarex Energy by 8.2% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 4,063,310 shares of the oil and gas producer’s stock worth $381,992,000 after acquiring an additional 307,581 shares during the period. Hedge funds and other institutional investors own 90.06% of the company’s stock.

Shares of Cimarex Energy (NYSE:XEC) opened at 116.32 on Wednesday. The stock has a 50 day moving average of $108.67 and a 200 day moving average of $105.94. Cimarex Energy has a 12 month low of $89.49 and a 12 month high of $146.96. The firm has a market cap of $10.86 billion, a price-to-earnings ratio of 41.66 and a beta of 1.35.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend is Tuesday, November 14th. Cimarex Energy’s dividend payout ratio is currently 12.03%.

WARNING: “Analysts Anticipate Cimarex Energy Co (XEC) Will Announce Earnings of $0.96 Per Share” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this article on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark law. The correct version of this article can be read at https://ledgergazette.com/2017/10/18/analysts-anticipate-cimarex-energy-co-xec-will-announce-earnings-of-0-96-per-share.html.

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.

Get a free copy of the Zacks research report on Cimarex Energy (XEC)

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

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