Wall Street analysts forecast that Cimarex Energy Co (NYSE:XEC) will announce sales of $579.74 million for the current quarter, Zacks reports. Twenty Two analysts have provided estimates for Cimarex Energy’s earnings, with the highest sales estimate coming in at $640.20 million and the lowest estimate coming in at $526.12 million. Cimarex Energy posted sales of $463.68 million in the same quarter last year, which suggests a positive year-over-year growth rate of 25%. The company is expected to report its next quarterly earnings results on Tuesday, November 6th.
According to Zacks, analysts expect that Cimarex Energy will report full-year sales of $2.34 billion for the current financial year, with estimates ranging from $2.24 billion to $2.50 billion. For the next year, analysts forecast that the firm will post sales of $2.70 billion per share, with estimates ranging from $2.34 billion to $3.21 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Cimarex Energy.
Cimarex Energy (NYSE:XEC) last announced its quarterly earnings data on Tuesday, August 7th. The oil and gas producer reported $1.59 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.05). Cimarex Energy had a net margin of 27.75% and a return on equity of 21.47%. The firm had revenue of $556.27 million for the quarter, compared to analyst estimates of $557.26 million.
XEC has been the subject of several research analyst reports. ValuEngine downgraded shares of Cimarex Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, July 3rd. Williams Capital restated a “buy” rating and set a $134.00 price objective on shares of Cimarex Energy in a research report on Monday, July 23rd. Morgan Stanley lowered their price objective on shares of Cimarex Energy from $138.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, May 24th. Citigroup upped their price target on shares of Cimarex Energy from $119.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, June 15th. Finally, Jefferies Financial Group set a $118.00 price target on shares of Cimarex Energy and gave the stock a “buy” rating in a report on Wednesday, July 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $132.33.
XEC traded down $1.88 during trading on Friday, hitting $83.59. 1,424,300 shares of the stock traded hands, compared to its average volume of 1,401,377. Cimarex Energy has a twelve month low of $80.53 and a twelve month high of $130.16. The company has a market cap of $8.21 billion, a P/E ratio of 17.97 and a beta of 1.04. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.34 and a quick ratio of 1.27.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be paid a $0.18 dividend. 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 dividend yield of 0.86%. Cimarex Energy’s payout ratio is currently 13.76%.
In related news, Director L Paul Teague sold 1,040 shares of the business’s stock in a transaction on Wednesday, June 27th. The shares were sold at an average price of $100.10, for a total value of $104,104.00. Following the sale, the director now owns 40,106 shares of the company’s stock, valued at $4,014,610.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Lisa A. Stewart acquired 320 shares of Cimarex Energy stock in a transaction that occurred on Thursday, August 30th. The stock was acquired at an average cost of $84.05 per share, for a total transaction of $26,896.00. The disclosure for this purchase can be found here. Insiders own 1.70% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Glen Harbor Capital Management LLC boosted its position in Cimarex Energy by 12.8% during the first quarter. Glen Harbor Capital Management LLC now owns 4,664 shares of the oil and gas producer’s stock valued at $436,000 after acquiring an additional 528 shares during the last quarter. Alps Advisors Inc. boosted its position in Cimarex Energy by 11.8% during the first quarter. Alps Advisors Inc. now owns 5,194 shares of the oil and gas producer’s stock valued at $486,000 after acquiring an additional 550 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in Cimarex Energy by 0.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 125,550 shares of the oil and gas producer’s stock valued at $11,739,000 after acquiring an additional 578 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its position in Cimarex Energy by 9.7% during the second quarter. Nissay Asset Management Corp Japan ADV now owns 7,091 shares of the oil and gas producer’s stock valued at $721,000 after acquiring an additional 628 shares during the last quarter. Finally, Trust Co. of Vermont boosted its position in Cimarex Energy by 2.7% during the first quarter. Trust Co. of Vermont now owns 28,840 shares of the oil and gas producer’s stock valued at $2,696,000 after acquiring an additional 750 shares during the last quarter. 99.73% of the stock is currently owned by institutional investors.
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, 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.
See Also: Dividend
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cimarex Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cimarex Energy and related companies with MarketBeat.com's FREE daily email newsletter.