Brokerages expect Cimarex Energy Co. (NYSE:XEC) to post earnings per share (EPS) of $1.61 for the current fiscal quarter, according to Zacks. Twenty Three analysts have issued estimates for Cimarex Energy’s earnings, with the highest EPS estimate coming in at $2.16 and the lowest estimate coming in at $0.89. Cimarex Energy reported earnings per share of ($0.51) during the same quarter last year, which would suggest a positive year-over-year growth rate of 415.7%. The firm is expected to announce its next earnings report on Wednesday, August 4th.
According to Zacks, analysts expect that Cimarex Energy will report full-year earnings of $7.56 per share for the current financial year, with EPS estimates ranging from $4.68 to $9.73. For the next year, analysts expect that the company will post earnings of $8.57 per share, with EPS estimates ranging from $6.08 to $12.10. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Cimarex Energy.
Cimarex Energy (NYSE:XEC) last announced its earnings results on Tuesday, May 4th. The oil and gas producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.01. The firm had revenue of $679.47 million during the quarter, compared to analysts’ expectations of $584.19 million. Cimarex Energy had a positive return on equity of 7.29% and a negative net margin of 104.14%. During the same period in the prior year, the firm earned $0.58 EPS.
XEC has been the subject of several analyst reports. KeyCorp upped their price objective on Cimarex Energy from $70.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, April 15th. Morgan Stanley upped their price objective on Cimarex Energy from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, April 26th. Truist Securities upped their price objective on Cimarex Energy from $60.00 to $80.00 in a research note on Tuesday. Bank of America reaffirmed a “neutral” rating on shares of Cimarex Energy in a research note on Monday, March 22nd. Finally, Truist increased their target price on Cimarex Energy from $60.00 to $80.00 in a research note on Tuesday. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Cimarex Energy has a consensus rating of “Buy” and a consensus target price of $64.81.
In other Cimarex Energy news, COO Joseph R. Albi sold 15,000 shares of the stock in a transaction on Thursday, March 4th. The stock was sold at an average price of $61.43, for a total transaction of $921,450.00. Also, CFO G Mark Burford sold 5,000 shares of the stock in a transaction on Monday, March 8th. The shares were sold at an average price of $67.13, for a total value of $335,650.00. Following the sale, the chief financial officer now owns 174,528 shares in the company, valued at approximately $11,716,064.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,451 shares of company stock worth $1,683,447. 2.00% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in XEC. First Mercantile Trust Co. boosted its holdings in shares of Cimarex Energy by 6.1% during the first quarter. First Mercantile Trust Co. now owns 3,110 shares of the oil and gas producer’s stock worth $185,000 after purchasing an additional 180 shares during the last quarter. Private Capital Group LLC boosted its holdings in shares of Cimarex Energy by 11.1% during the fourth quarter. Private Capital Group LLC now owns 2,389 shares of the oil and gas producer’s stock worth $90,000 after purchasing an additional 239 shares during the last quarter. Addison Capital Co boosted its holdings in shares of Cimarex Energy by 0.9% during the first quarter. Addison Capital Co now owns 27,876 shares of the oil and gas producer’s stock worth $1,656,000 after purchasing an additional 240 shares during the last quarter. Ieq Capital LLC boosted its holdings in shares of Cimarex Energy by 0.4% during the first quarter. Ieq Capital LLC now owns 58,002 shares of the oil and gas producer’s stock worth $3,445,000 after purchasing an additional 247 shares during the last quarter. Finally, Profund Advisors LLC boosted its holdings in shares of Cimarex Energy by 4.7% during the fourth quarter. Profund Advisors LLC now owns 9,241 shares of the oil and gas producer’s stock worth $347,000 after purchasing an additional 418 shares during the last quarter. Hedge funds and other institutional investors own 91.50% of the company’s stock.
Shares of NYSE XEC opened at $71.49 on Friday. The business has a 50-day moving average price of $64.20 and a 200 day moving average price of $49.37. The company has a quick ratio of 0.74, a current ratio of 0.84 and a debt-to-equity ratio of 1.07. The stock has a market cap of $7.35 billion, a PE ratio of -3.48, a price-to-earnings-growth ratio of 8.75 and a beta of 2.40. Cimarex Energy has a 52-week low of $22.39 and a 52-week high of $73.96.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 1st. Investors of record on Friday, August 13th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.51%. Cimarex Energy’s payout ratio is currently 19.73%.
About Cimarex Energy
Cimarex Energy Co operates as an independent oil and gas exploration and production company primarily in Texas, Oklahoma, and New Mexico. As of December 31, 2020, it had a total proved reserves of 531.0 million barrels of oil equivalent; 1.36 trillion cubic feet of proved gas reserves; 144.1 million barrels (MMBbls) of proved oil reserves; and 159.8 MMBbls of natural gas liquids reserves primarily located in the Permian Basin and Mid-Continent regions.
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