$510.44 Million in Sales Expected for Cimarex Energy Co (XEC) This Quarter

Analysts expect Cimarex Energy Co (NYSE:XEC) to report sales of $510.44 million for the current quarter, Zacks Investment Research reports. Twenty Six analysts have made estimates for Cimarex Energy’s earnings, with the highest sales estimate coming in at $577.91 million and the lowest estimate coming in at $463.64 million. Cimarex Energy reported sales of $382.16 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 33.6%. The firm is expected to report its next quarterly earnings report on Wednesday, February 21st.

According to Zacks, analysts expect that Cimarex Energy will report full year sales of $510.44 million for the current fiscal year, with estimates ranging from $1.78 billion to $1.96 billion. For the next financial year, analysts expect that the company will post sales of $2.29 billion per share, with estimates ranging from $1.88 billion to $2.62 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Cimarex Energy.

Cimarex Energy (NYSE:XEC) last announced its quarterly earnings results on Tuesday, November 7th. The oil and gas producer reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.12. Cimarex Energy had a net margin of 20.45% and a return on equity of 16.11%. The business had revenue of $463.68 million for the quarter, compared to analyst estimates of $451.53 million. During the same quarter in the prior year, the business earned $0.53 EPS. Cimarex Energy’s quarterly revenue was up 38.1% on a year-over-year basis.

A number of brokerages recently commented on XEC. KeyCorp reiterated a “buy” rating and issued a $130.00 price target on shares of Cimarex Energy in a research note on Friday, October 20th. Piper Jaffray Companies decreased their price target on shares of Cimarex Energy from $141.00 to $116.00 and set a “neutral” rating on the stock in a research note on Monday, September 18th. Robert W. Baird assumed coverage on shares of Cimarex Energy in a research note on Tuesday, December 19th. They issued an “outperform” rating and a $137.00 price target on the stock. Seaport Global Securities upgraded shares of Cimarex Energy from a “sell” rating to a “buy” rating in a research report on Tuesday, December 19th. Finally, Imperial Capital increased their target price on shares of Cimarex Energy from $135.00 to $141.00 and gave the stock an “outperform” rating in a research report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. Cimarex Energy has an average rating of “Buy” and a consensus price target of $136.71.

Shares of Cimarex Energy (NYSE XEC) traded up $2.46 on Friday, reaching $128.66. 864,800 shares of the company were exchanged, compared to its average volume of 918,067. Cimarex Energy has a twelve month low of $89.49 and a twelve month high of $144.30. The firm has a market cap of $12,260.00, a price-to-earnings ratio of 32.17 and a beta of 1.33. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.42 and a current ratio of 1.51.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend is Wednesday, February 14th. Cimarex Energy’s dividend payout ratio (DPR) is presently 8.00%.

In other news, VP Krista L. Johnson sold 5,341 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $116.46, for a total transaction of $622,012.86. Following the completion of the sale, the vice president now owns 42,938 shares of the company’s stock, valued at approximately $5,000,559.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Francis Brian Barron sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $112.59, for a total transaction of $337,770.00. Following the sale, the senior vice president now directly owns 87,723 shares of the company’s stock, valued at approximately $9,876,732.57. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,264 shares of company stock valued at $3,804,134. 1.70% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the company. Advisor Group Inc. lifted its holdings in shares of Cimarex Energy by 5.3% during the 2nd quarter. Advisor Group Inc. now owns 1,200 shares of the oil and gas producer’s stock worth $113,000 after acquiring an additional 60 shares during the period. Virtu KCG Holdings LLC lifted its stake in Cimarex Energy by 0.6% in the 2nd quarter. Virtu KCG Holdings LLC now owns 15,740 shares of the oil and gas producer’s stock valued at $1,480,000 after purchasing an additional 96 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Cimarex Energy by 8.3% in the 2nd quarter. Pacer Advisors Inc. now owns 1,935 shares of the oil and gas producer’s stock valued at $182,000 after purchasing an additional 148 shares during the last quarter. D.A. Davidson & CO. lifted its stake in Cimarex Energy by 12.0% in the 2nd quarter. D.A. Davidson & CO. now owns 2,335 shares of the oil and gas producer’s stock valued at $219,000 after purchasing an additional 250 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in Cimarex Energy by 8.1% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 3,485 shares of the oil and gas producer’s stock valued at $328,000 after purchasing an additional 260 shares during the last quarter. 92.03% of the stock is owned by institutional investors.

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About Cimarex Energy

Cimarex Energy Co is an independent oil and gas exploration and production company. The Company operates in exploration and production (E&P) segment. Its operations are located in Oklahoma, Texas and New Mexico. Its E&P activities take place primarily in two areas: the Permian Basin and the Mid-Continent region.

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