Cimarex Energy Co. (NYSE:XEC) Expected to Announce Quarterly Sales of $584.19 Million

Wall Street analysts expect Cimarex Energy Co. (NYSE:XEC) to post $584.19 million in sales for the current quarter, Zacks reports. Twenty One analysts have made estimates for Cimarex Energy’s earnings. The lowest sales estimate is $460.66 million and the highest is $692.23 million. Cimarex Energy reported sales of $472.83 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 23.6%. The company is expected to issue its next quarterly earnings report after the market closes on Wednesday, May 5th.

According to Zacks, analysts expect that Cimarex Energy will report full-year sales of $2.44 billion for the current financial year, with estimates ranging from $2.07 billion to $2.79 billion. For the next financial year, analysts anticipate that the business will report sales of $2.57 billion, with estimates ranging from $2.19 billion to $3.23 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Cimarex Energy.

Cimarex Energy (NYSE:XEC) last posted its earnings results on Sunday, February 21st. The oil and gas producer reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.18. The company had revenue of $434.70 million during the quarter, compared to analyst estimates of $421.94 million. Cimarex Energy had a positive return on equity of 7.29% and a negative net margin of 104.14%. The business’s revenue was down 33.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.18 earnings per share.

Several equities analysts have recently commented on XEC shares. MKM Partners raised Cimarex Energy from a “neutral” rating to a “buy” rating in a report on Wednesday, April 28th. Morgan Stanley upped their target price on Cimarex Energy from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, April 26th. Bank of America reiterated a “neutral” rating on shares of Cimarex Energy in a research report on Monday, March 22nd. Susquehanna boosted their price objective on Cimarex Energy from $60.00 to $70.00 and gave the stock a “positive” rating in a research report on Wednesday, February 24th. Finally, Evercore ISI upgraded Cimarex Energy from an “in-line” rating to an “outperform” rating and set a $75.00 price objective for the company in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $62.42.

In other news, VP Stephen P. Bell sold 6,451 shares of the stock in a transaction on Friday, March 5th. The stock was sold at an average price of $66.09, for a total transaction of $426,346.59. Also, CFO G Mark Burford sold 5,000 shares of the stock in a transaction on Monday, March 8th. The shares were sold at an average price of $67.13, for a total value of $335,650.00. Following the sale, the chief financial officer now owns 174,528 shares of the company’s stock, valued at approximately $11,716,064.64. The disclosure for this sale can be found here. Insiders have sold a total of 26,451 shares of company stock valued at $1,683,447 in the last quarter. Insiders own 2.00% of the company’s stock.

Large investors have recently made changes to their positions in the company. NEXT Financial Group Inc acquired a new stake in Cimarex Energy during the 4th quarter valued at $27,000. Inspire Advisors LLC acquired a new stake in Cimarex Energy during the 4th quarter valued at $28,000. Contravisory Investment Management Inc. acquired a new stake in Cimarex Energy during the 1st quarter valued at $28,000. Royal London Asset Management Ltd. acquired a new stake in Cimarex Energy during the 4th quarter valued at $42,000. Finally, Ironwood Financial llc raised its stake in Cimarex Energy by 112.7% during the 1st quarter. Ironwood Financial llc now owns 1,059 shares of the oil and gas producer’s stock valued at $63,000 after purchasing an additional 561 shares during the period. Institutional investors own 91.50% of the company’s stock.

Shares of NYSE:XEC traded down $0.06 during trading on Thursday, hitting $67.16. 865,931 shares of the company traded hands, compared to its average volume of 1,199,736. The stock has a market capitalization of $6.91 billion, a price-to-earnings ratio of -3.27, a PEG ratio of 8.75 and a beta of 2.40. The business’s fifty day moving average is $62.47 and its 200-day moving average is $47.01. Cimarex Energy has a one year low of $21.65 and a one year high of $69.35. The company has a quick ratio of 0.74, a current ratio of 0.84 and a debt-to-equity ratio of 1.07.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 1st. Stockholders of record on Friday, May 14th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Thursday, May 13th. This is an increase from Cimarex Energy’s previous quarterly dividend of $0.22. Cimarex Energy’s dividend payout ratio is 19.73%.

Cimarex Energy Company Profile

Cimarex Energy Co operates as an independent oil and gas exploration and production company primarily in Texas, Oklahoma, and New Mexico. As of December 31, 2020, it had a total proved reserves of 531.0 million barrels of oil equivalent; 1.36 trillion cubic feet of proved gas reserves; 144.1 million barrels (MMBbls) of proved oil reserves; and 159.8 MMBbls of natural gas liquids reserves primarily located in the Permian Basin and Mid-Continent regions.

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Earnings History and Estimates for Cimarex Energy (NYSE:XEC)

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