Cimarex Energy (XEC) Announces Earnings Results, Beats Estimates By $0.47 EPS

Cimarex Energy (NYSE:XEC) released its quarterly earnings results on Tuesday. The oil and gas producer reported $1.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.52 by $0.47, Briefing.com reports. Cimarex Energy had a net margin of 27.75% and a return on equity of 21.47%. The business had revenue of $591.50 million for the quarter, compared to analyst estimates of $561.67 million. During the same period in the previous year, the company earned $1.09 earnings per share. The business’s revenue for the quarter was up 27.6% on a year-over-year basis.

Shares of XEC traded up $10.79 during trading hours on Wednesday, reaching $93.94. 308,325 shares of the company traded hands, compared to its average volume of 1,580,129. The firm has a market capitalization of $7.70 billion, a PE ratio of 20.17 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. Cimarex Energy has a 12-month low of $77.63 and a 12-month high of $130.16.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Thursday, November 15th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This is a positive change from Cimarex Energy’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.77%. Cimarex Energy’s payout ratio is 13.76%.

Several equities analysts have issued reports on XEC shares. SunTrust Banks lowered shares of Cimarex Energy from a “buy” rating to a “hold” rating and set a $94.00 price target on the stock. in a report on Friday, September 7th. Morgan Stanley cut their price target on shares of Cimarex Energy from $123.00 to $118.00 and set a “buy” rating on the stock in a report on Wednesday, September 26th. Williams Capital reaffirmed a “buy” rating and issued a $134.00 price target on shares of Cimarex Energy in a report on Monday, July 23rd. 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. Finally, Wolfe Research raised shares of Cimarex Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, October 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $130.67.

In related news, Director Lisa A. Stewart acquired 320 shares of the company’s stock in a transaction dated Thursday, August 30th. The shares were purchased at an average cost of $84.05 per share, with a total value of $26,896.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in XEC. Mount Yale Investment Advisors LLC purchased a new stake in shares of Cimarex Energy during the second quarter valued at $115,000. JNBA Financial Advisors purchased a new stake in Cimarex Energy in the third quarter valued at $143,000. Point72 Hong Kong Ltd purchased a new stake in Cimarex Energy in the second quarter valued at $161,000. Eagle Boston Investment Management Inc. purchased a new stake in Cimarex Energy in the second quarter valued at $204,000. Finally, Delta Capital Management LLC purchased a new stake in Cimarex Energy in the second quarter valued at $207,000. 98.15% of the stock is currently owned by hedge funds and other institutional investors.

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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: Return on Investment (ROI)

Earnings History for Cimarex Energy (NYSE:XEC)

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