$1.10 Earnings Per Share Expected for Cimarex Energy Co (NYSE:XEC) This Quarter

Wall Street analysts predict that Cimarex Energy Co (NYSE:XEC) will report earnings per share of $1.10 for the current quarter, according to Zacks Investment Research. Twenty Five analysts have provided estimates for Cimarex Energy’s earnings, with the lowest EPS estimate coming in at $0.63 and the highest estimate coming in at $1.48. Cimarex Energy posted earnings per share of $1.99 in the same quarter last year, which would suggest a negative year-over-year growth rate of 44.7%. The firm is scheduled to report its next earnings report on Tuesday, November 5th.

According to Zacks, analysts expect that Cimarex Energy will report full year earnings of $4.68 per share for the current financial year, with EPS estimates ranging from $3.61 to $5.87. For the next financial year, analysts expect that the company will post earnings of $6.84 per share, with EPS estimates ranging from $4.16 to $15.99. Zacks’ EPS calculations are an average based on a survey of research analysts that follow Cimarex Energy.

Cimarex Energy (NYSE:XEC) last announced its earnings results on Monday, August 5th. The oil and gas producer reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.38). The firm had revenue of $546.46 million for the quarter, compared to analyst estimates of $594.90 million. Cimarex Energy had a return on equity of 16.59% and a net margin of 25.66%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.59 EPS.

Several equities research analysts have weighed in on the stock. Imperial Capital lowered their price objective on shares of Cimarex Energy from $58.00 to $51.00 and set an “in-line” rating for the company in a research report on Wednesday, August 7th. Morgan Stanley lowered their price objective on shares of Cimarex Energy from $81.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th. Bank of America lowered their price objective on shares of Cimarex Energy from $87.00 to $75.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Williams Capital restated a “buy” rating and issued a $83.00 price objective on shares of Cimarex Energy in a research report on Monday, July 22nd. Finally, MKM Partners lowered their price objective on shares of Cimarex Energy from $70.00 to $64.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $77.39.

Several hedge funds and other institutional investors have recently modified their holdings of the company. First Citizens Bank & Trust Co. boosted its stake in shares of Cimarex Energy by 2.3% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 9,633 shares of the oil and gas producer’s stock valued at $572,000 after purchasing an additional 217 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Cimarex Energy by 2.6% during the 2nd quarter. CIBC Asset Management Inc now owns 11,011 shares of the oil and gas producer’s stock worth $653,000 after acquiring an additional 275 shares during the last quarter. New Mexico Educational Retirement Board boosted its stake in Cimarex Energy by 3.8% during the 2nd quarter. New Mexico Educational Retirement Board now owns 8,300 shares of the oil and gas producer’s stock worth $492,000 after acquiring an additional 300 shares during the last quarter. Metropolitan Life Insurance Co NY boosted its stake in Cimarex Energy by 2.1% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 14,624 shares of the oil and gas producer’s stock worth $1,022,000 after acquiring an additional 306 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in Cimarex Energy by 3.9% during the 1st quarter. Rockefeller Capital Management L.P. now owns 8,312 shares of the oil and gas producer’s stock worth $581,000 after acquiring an additional 312 shares during the last quarter. 96.14% of the stock is currently owned by institutional investors.

Shares of Cimarex Energy stock traded up $1.72 during mid-day trading on Friday, reaching $46.04. 280,967 shares of the stock were exchanged, compared to its average volume of 1,890,943. The company has a current ratio of 0.64, a quick ratio of 0.57 and a debt-to-equity ratio of 0.56. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 6.22 and a beta of 1.33. Cimarex Energy has a fifty-two week low of $37.19 and a fifty-two week high of $101.19. The firm has a 50-day simple moving average of $43.25 and a 200 day simple moving average of $58.98.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Thursday, November 14th. Cimarex Energy’s dividend payout ratio (DPR) is presently 10.81%.

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, 2018, it had a total proved reserves of 591.2 million barrels of oil equivalent, consisting of 1.59 trillion cubic feet of natural gas; 146.5 million barrels (MMBbls) of oil; and 179.4 MMBbls of natural gas liquids primarily located in the Permian Basin and Mid-Continent regions.

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