Cimarex Energy (XEC) Releases Quarterly Earnings Results, Beats Estimates By $0.47 EPS

Share on StockTwits

Cimarex Energy (NYSE:XEC) posted its quarterly earnings data on Tuesday. The oil and gas producer reported $1.99 EPS for the quarter, topping the consensus estimate of $1.52 by $0.47, Briefing.com reports. The firm had revenue of $591.50 million during the quarter, compared to analyst estimates of $561.67 million. Cimarex Energy had a net margin of 27.75% and a return on equity of 21.47%. Cimarex Energy’s revenue was up 27.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.09 EPS.

Shares of XEC stock traded up $8.44 during trading hours on Wednesday, hitting $91.60. The company’s stock had a trading volume of 2,583,928 shares, compared to its average volume of 1,580,129. The company has a market capitalization of $7.70 billion, a P/E ratio of 19.70 and a beta of 1.04. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.34 and a quick ratio of 1.27. Cimarex Energy has a 12-month low of $77.63 and a 12-month high of $130.16.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Thursday, November 15th will be issued a $0.18 dividend. This is an increase from Cimarex Energy’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Wednesday, November 14th. Cimarex Energy’s dividend payout ratio is 13.76%.

A number of research analysts have issued reports on XEC shares. SunTrust Banks lowered shares of Cimarex Energy from a “buy” rating to a “hold” rating and set a $94.00 price target on the stock. in a research note on Friday, September 7th. Morgan Stanley cut their price target on shares of Cimarex Energy from $123.00 to $118.00 and set a “buy” rating on the stock in a research note on Wednesday, September 26th. Williams Capital restated a “buy” rating and set a $134.00 price target on shares of Cimarex Energy in a research note on Monday, July 23rd. Jefferies Financial Group set a $118.00 price target on shares of Cimarex Energy and gave the company a “buy” rating in a research note on Wednesday, July 18th. Finally, Wolfe Research upgraded shares of Cimarex Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, October 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $130.67.

In other Cimarex Energy news, Director Lisa A. Stewart acquired 320 shares of the company’s stock in a transaction dated Thursday, August 30th. The shares were acquired at an average cost of $84.05 per share, with a total value of $26,896.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 1.70% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Paloma Partners Management Co boosted its holdings in Cimarex Energy by 20.4% during the second quarter. Paloma Partners Management Co now owns 71,280 shares of the oil and gas producer’s stock worth $7,252,000 after buying an additional 12,079 shares in the last quarter. Swiss National Bank boosted its holdings in Cimarex Energy by 3.5% during the second quarter. Swiss National Bank now owns 315,161 shares of the oil and gas producer’s stock worth $32,064,000 after buying an additional 10,600 shares in the last quarter. Investec Asset Management LTD boosted its holdings in Cimarex Energy by 173.1% during the second quarter. Investec Asset Management LTD now owns 118,291 shares of the oil and gas producer’s stock worth $12,035,000 after buying an additional 74,981 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in Cimarex Energy by 41.5% during the second quarter. Canada Pension Plan Investment Board now owns 48,423 shares of the oil and gas producer’s stock worth $4,927,000 after buying an additional 14,213 shares in the last quarter. Finally, Advanced Asset Management Advisors Inc purchased a new stake in Cimarex Energy during the second quarter worth $621,000. 98.15% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: This piece was first posted by Week Herald and is the property of of Week Herald. If you are viewing this piece on another publication, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark legislation. The original version of this piece can be viewed at https://weekherald.com/2018/11/07/cimarex-energy-xec-releases-quarterly-earnings-results-beats-estimates-by-0-47-eps.html.

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, 2017, it had a total proved oil and gas reserves of 3.35 trillion cubic feet equivalent (Tcfe) consisting of 1.61 trillion cubic feet of natural gas, 0.82 Tcfe of oil, and 0.92 Tcfe of natural gas liquids primarily located in the Mid-Continent and Permian Basin regions.

Read More: Should You Consider an Index Fund?

Earnings History for Cimarex Energy (NYSE:XEC)

Receive News & Ratings for Cimarex Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cimarex Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply