Equities analysts expect that Cimarex Energy Co (NYSE:XEC) will report sales of $615.00 million for the current quarter, according to Zacks. Twenty Five analysts have issued estimates for Cimarex Energy’s earnings, with the highest sales estimate coming in at $751.86 million and the lowest estimate coming in at $530.00 million. Cimarex Energy posted sales of $591.49 million in the same quarter last year, which suggests a positive year over year growth rate of 4%. The company is scheduled to report its next earnings results on Tuesday, November 5th.

On average, analysts expect that Cimarex Energy will report full-year sales of $2.41 billion for the current financial year, with estimates ranging from $2.18 billion to $2.90 billion. For the next year, analysts anticipate that the firm will report sales of $2.77 billion, with estimates ranging from $2.30 billion to $4.14 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Cimarex Energy.

Cimarex Energy (NYSE:XEC) last posted its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.82 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by ($0.38). Cimarex Energy had a return on equity of 16.59% and a net margin of 25.66%. The company had revenue of $546.46 million during the quarter, compared to the consensus estimate of $594.90 million. During the same quarter in the prior year, the business earned $1.59 earnings per share. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis.

Several analysts recently commented on the company. Wells Fargo & Co assumed coverage on Cimarex Energy in a research note on Monday, May 20th. They set a “market perform” rating and a $86.00 price objective on the stock. Citigroup dropped their price objective on Cimarex Energy from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Morgan Stanley dropped their price objective on Cimarex Energy from $81.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 14th. Capital One Financial raised Cimarex Energy from an “equal weight” rating to an “overweight” rating in a research note on Thursday, May 23rd. Finally, BMO Capital Markets downgraded Cimarex Energy from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $82.00 to $67.00 in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $77.39.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. World Asset Management Inc raised its position in shares of Cimarex Energy by 3.2% in the first quarter. World Asset Management Inc now owns 5,457 shares of the oil and gas producer’s stock valued at $381,000 after buying an additional 171 shares in the last quarter. First Citizens Bank & Trust Co. raised its position in Cimarex Energy by 2.3% during the second quarter. First Citizens Bank & Trust Co. now owns 9,633 shares of the oil and gas producer’s stock valued at $572,000 after purchasing an additional 217 shares in the last quarter. CIBC Asset Management Inc raised its position in Cimarex Energy by 2.6% during the second quarter. CIBC Asset Management Inc now owns 11,011 shares of the oil and gas producer’s stock valued at $653,000 after purchasing an additional 275 shares in the last quarter. New Mexico Educational Retirement Board raised its position in Cimarex Energy by 3.8% during the second quarter. New Mexico Educational Retirement Board now owns 8,300 shares of the oil and gas producer’s stock valued at $492,000 after purchasing an additional 300 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY raised its position in Cimarex Energy by 2.1% during the first quarter. Metropolitan Life Insurance Co NY now owns 14,624 shares of the oil and gas producer’s stock valued at $1,022,000 after purchasing an additional 306 shares in the last quarter. Institutional investors own 95.69% of the company’s stock.

Cimarex Energy stock traded up $0.27 during mid-day trading on Monday, hitting $40.92. 18,895 shares of the company’s stock were exchanged, compared to its average volume of 2,032,419. The firm has a market capitalization of $4.25 billion, a P/E ratio of 5.54 and a beta of 1.30. Cimarex Energy has a fifty-two week low of $37.89 and a fifty-two week high of $101.19. The company has a quick ratio of 0.57, a current ratio of 0.64 and a debt-to-equity ratio of 0.56. The company’s 50 day simple moving average is $48.57 and its 200-day simple moving average is $62.41.

Cimarex Energy Company Profile

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

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