-$0.61 EPS Expected for Cimarex Energy Co (NYSE:XEC) This Quarter

Brokerages expect Cimarex Energy Co (NYSE:XEC) to report earnings of ($0.61) per share for the current fiscal quarter, according to Zacks. Twenty Two analysts have provided estimates for Cimarex Energy’s earnings, with the lowest EPS estimate coming in at ($1.35) and the highest estimate coming in at $0.55. Cimarex Energy reported earnings per share of $0.82 during the same quarter last year, which indicates a negative year-over-year growth rate of 174.4%. The company is scheduled to announce its next earnings report on Monday, August 3rd.

On average, analysts expect that Cimarex Energy will report full year earnings of ($0.46) per share for the current year, with EPS estimates ranging from ($2.17) to $5.26. For the next fiscal year, analysts anticipate that the firm will post earnings of $0.48 per share, with EPS estimates ranging from ($1.83) to $4.66. Zacks’ EPS averages are an average based on a survey of analysts that cover Cimarex Energy.

Cimarex Energy (NYSE:XEC) last announced its earnings results on Wednesday, May 6th. The oil and gas producer reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.17. The company had revenue of $472.83 million for the quarter, compared to analyst estimates of $504.50 million. Cimarex Energy had a positive return on equity of 10.09% and a negative net margin of 44.65%. The firm’s quarterly revenue was down 18.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 earnings per share.

A number of equities research analysts recently issued reports on the company. MKM Partners increased their price target on Cimarex Energy from $61.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. BMO Capital Markets raised Cimarex Energy from a “market perform” rating to an “outperform” rating and set a $23.00 price target on the stock in a research report on Monday, March 16th. Morgan Stanley increased their price target on Cimarex Energy from $26.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday. SunTrust Banks reduced their price target on Cimarex Energy from $25.00 to $22.00 in a research report on Wednesday, April 15th. Finally, R. F. Lafferty initiated coverage on Cimarex Energy in a research report on Wednesday. They set a “buy” rating and a $42.00 price target on the stock. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the stock. Cimarex Energy currently has an average rating of “Buy” and an average target price of $40.30.

In related news, CEO Thomas E. Jorden bought 10,971 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was acquired at an average cost of $16.58 per share, with a total value of $181,899.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Harold R. Logan, Jr. bought 2,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were bought at an average cost of $32.72 per share, with a total value of $65,440.00. Following the completion of the transaction, the director now owns 11,156 shares in the company, valued at $365,024.32. The disclosure for this purchase can be found here. Insiders bought a total of 24,971 shares of company stock valued at $440,279 over the last quarter. 2.00% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in Cimarex Energy by 48.8% during the 1st quarter. BlackRock Inc. now owns 9,163,055 shares of the oil and gas producer’s stock worth $154,214,000 after purchasing an additional 3,005,325 shares during the last quarter. Victory Capital Management Inc. raised its position in Cimarex Energy by 0.3% during the 1st quarter. Victory Capital Management Inc. now owns 4,349,452 shares of the oil and gas producer’s stock worth $73,202,000 after purchasing an additional 13,871 shares during the last quarter. Principal Financial Group Inc. raised its position in Cimarex Energy by 25.5% during the 4th quarter. Principal Financial Group Inc. now owns 2,004,838 shares of the oil and gas producer’s stock worth $105,233,000 after purchasing an additional 407,565 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Cimarex Energy by 43.3% in the 1st quarter. JPMorgan Chase & Co. now owns 1,868,776 shares of the oil and gas producer’s stock worth $31,451,000 after acquiring an additional 564,838 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Cimarex Energy by 4.1% in the 4th quarter. Geode Capital Management LLC now owns 1,679,989 shares of the oil and gas producer’s stock worth $88,065,000 after acquiring an additional 65,464 shares in the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

NYSE:XEC traded down $0.29 during trading hours on Monday, reaching $26.81. 1,678,418 shares of the company were exchanged, compared to its average volume of 2,242,926. The company has a market capitalization of $2.77 billion, a P/E ratio of -2.66 and a beta of 2.31. Cimarex Energy has a 1-year low of $12.15 and a 1-year high of $67.67. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.08 and a quick ratio of 1.01. The business has a 50 day moving average of $21.51 and a 200 day moving average of $36.31.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Thursday, August 13th. Cimarex Energy’s payout ratio is 19.73%.

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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