Zacks: Brokerages Expect Cimarex Energy Co (XEC) Will Announce Earnings of $1.39 Per Share
Analysts expect Cimarex Energy Co (NYSE:XEC) to report $1.39 earnings per share (EPS) for the current quarter, according to Zacks. Twenty Six analysts have issued estimates for Cimarex Energy’s earnings, with the highest EPS estimate coming in at $1.64 and the lowest estimate coming in at $1.18. Cimarex Energy reported earnings per share of $0.60 in the same quarter last year, which indicates a positive year over year growth rate of 131.7%. The company is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, February 14th.
On average, analysts expect that Cimarex Energy will report full-year earnings of $4.59 per share for the current fiscal year, with EPS estimates ranging from $4.36 to $4.84. For the next fiscal year, analysts expect that the business will report earnings of $7.16 per share, with EPS estimates ranging from $4.32 to $9.35. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that follow Cimarex Energy.
A number of brokerages have recently commented on XEC. Morgan Stanley lowered their price objective on Cimarex Energy from $168.00 to $165.00 and set an “overweight” rating for the company in a research report on Wednesday. SunTrust Banks raised Cimarex Energy from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a report on Tuesday. Deutsche Bank assumed coverage on Cimarex Energy in a report on Thursday, February 1st. They issued a “buy” rating and a $164.00 price target for the company. Stifel Nicolaus set a $188.00 price target on Cimarex Energy and gave the company a “buy” rating in a report on Monday, January 29th. Finally, Jefferies Group set a $122.00 price target on Cimarex Energy and gave the company a “hold” rating in a report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the company. Cimarex Energy currently has a consensus rating of “Buy” and a consensus price target of $141.38.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp lifted its stake in Cimarex Energy by 3.0% in the second quarter. State Street Corp now owns 5,458,745 shares of the oil and gas producer’s stock valued at $513,162,000 after buying an additional 157,612 shares during the last quarter. Boston Partners raised its stake in shares of Cimarex Energy by 28.0% during the fourth quarter. Boston Partners now owns 1,812,143 shares of the oil and gas producer’s stock worth $221,100,000 after purchasing an additional 395,877 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Cimarex Energy by 41.8% during the third quarter. Ameriprise Financial Inc. now owns 1,623,569 shares of the oil and gas producer’s stock worth $184,549,000 after purchasing an additional 478,543 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Cimarex Energy by 2.2% during the third quarter. Principal Financial Group Inc. now owns 1,579,168 shares of the oil and gas producer’s stock worth $179,504,000 after purchasing an additional 34,393 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Cimarex Energy by 11.4% during the fourth quarter. Wells Fargo & Company MN now owns 1,506,133 shares of the oil and gas producer’s stock worth $183,763,000 after purchasing an additional 153,665 shares during the last quarter. Institutional investors own 92.34% of the company’s stock.
Shares of Cimarex Energy (NYSE XEC) remained flat at $$100.19 during trading on Monday. The stock had a trading volume of 1,769,676 shares, compared to its average volume of 1,076,470. Cimarex Energy has a 52 week low of $89.49 and a 52 week high of $136.31. The firm has a market capitalization of $9,544.19, a price-to-earnings ratio of 26.65 and a beta of 1.14. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 0.62.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Wednesday, February 14th. Cimarex Energy’s dividend payout ratio is currently 8.51%.
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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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