Equities analysts expect that Cimarex Energy Co (NYSE:XEC) will post sales of $592.60 million for the current quarter, Zacks reports. Twenty Five analysts have provided estimates for Cimarex Energy’s earnings, with estimates ranging from $530.00 million to $651.60 million. Cimarex Energy posted sales of $591.49 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 0.2%. The business is expected to issue its next earnings results on Tuesday, November 5th.

On average, analysts expect that Cimarex Energy will report full year sales of $2.36 billion for the current financial year, with estimates ranging from $2.18 billion to $2.55 billion. For the next financial year, analysts forecast that the company will report sales of $2.73 billion, with estimates ranging from $2.30 billion to $4.14 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Cimarex Energy.

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

Several brokerages recently issued reports on XEC. Capital One Financial upgraded Cimarex Energy from an “equal weight” rating to an “overweight” rating in a report on Thursday, May 23rd. BMO Capital Markets cut 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 report on Thursday, July 11th. Williams Capital restated a “buy” rating and issued a $83.00 target price on shares of Cimarex Energy in a research note on Monday, July 22nd. SunTrust Banks set a $60.00 price objective on Cimarex Energy and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, KeyCorp initiated coverage on Cimarex Energy in a research report on Thursday, June 27th. They set an “overweight” rating and a $66.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the stock. Cimarex Energy currently has a consensus rating of “Hold” and a consensus price target of $77.39.

Shares of NYSE XEC traded up $1.72 during midday trading on Tuesday, hitting $46.04. 280,967 shares of the stock traded hands, compared to its average volume of 1,890,943. The company has a market cap of $4.57 billion, a PE ratio of 6.22 and a beta of 1.33. Cimarex Energy has a one year low of $37.19 and a one year high of $101.19. The business has a 50 day moving average price of $43.25 and a two-hundred day moving average price of $58.98. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.57 and a current ratio of 0.64.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Thursday, November 14th. Cimarex Energy’s payout ratio is 10.81%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Valeo Financial Advisors LLC lifted its stake in Cimarex Energy by 319.8% in the 2nd quarter. Valeo Financial Advisors LLC now owns 487 shares of the oil and gas producer’s stock valued at $29,000 after buying an additional 371 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in Cimarex Energy in the 1st quarter valued at approximately $31,000. Nvwm LLC increased its holdings in Cimarex Energy by 462.0% in the 1st quarter. Nvwm LLC now owns 517 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 425 shares during the last quarter. Advisory Services Network LLC grew its stake in shares of Cimarex Energy by 1,170.2% in the second quarter. Advisory Services Network LLC now owns 597 shares of the oil and gas producer’s stock worth $36,000 after acquiring an additional 550 shares in the last quarter. Finally, Bremer Bank National Association acquired a new position in shares of Cimarex Energy in the first quarter worth $48,000. 96.14% of the stock is currently owned by institutional investors.

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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