Cimarex Energy (NYSE:XEC) Releases Earnings Results, Beats Expectations By $0.18 EPS


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Cimarex Energy (NYSE:XEC) posted its quarterly earnings data on Sunday. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.18, MarketWatch Earnings reports. Cimarex Energy had a positive return on equity of 7.29% and a negative net margin of 104.14%. The firm had revenue of $434.70 million for the quarter, compared to the consensus estimate of $421.94 million. During the same quarter in the previous year, the company earned $1.18 EPS. The business’s revenue for the quarter was down 33.9% compared to the same quarter last year.

Shares of Cimarex Energy stock opened at $52.01 on Tuesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.74. The company has a market cap of $5.30 billion, a PE ratio of -2.53, a price-to-earnings-growth ratio of 8.75 and a beta of 2.40. The firm has a fifty day moving average price of $46.84 and a two-hundred day moving average price of $34.38. Cimarex Energy has a fifty-two week low of $12.15 and a fifty-two week high of $54.36.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 1st. Investors of record on Friday, May 14th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, May 13th. This represents a $1.08 dividend on an annualized basis and a yield of 2.08%. This is a positive change from Cimarex Energy’s previous quarterly dividend of $0.22. Cimarex Energy’s payout ratio is 19.73%.

In other news, Director David A. Hentschel sold 10,000 shares of Cimarex Energy stock in a transaction that occurred on Tuesday, December 15th. The stock was sold at an average price of $38.01, for a total transaction of $380,100.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Joseph R. Albi sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, December 11th. The shares were sold at an average price of $39.54, for a total value of $316,320.00. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

XEC has been the topic of a number of recent analyst reports. Piper Sandler boosted their price target on shares of Cimarex Energy from $34.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday, November 18th. Morgan Stanley increased their price target on shares of Cimarex Energy from $53.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, January 15th. KeyCorp boosted their price objective on shares of Cimarex Energy from $50.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, January 21st. Scotiabank initiated coverage on shares of Cimarex Energy in a research report on Monday, February 1st. They issued a “sector perform” rating and a $50.00 target price for the company. Finally, The Goldman Sachs Group upgraded shares of Cimarex Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $46.00 to $48.00 in a report on Tuesday, December 15th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $42.40.

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, 2019, it had a total proved reserves of 619.6 million barrels of oil equivalent, consisting of 1.53 trillion cubic feet of natural gas; 169.8 million barrels (MMBbls) of oil; and 194.5 MMBbls of natural gas liquids primarily located in the Permian Basin and Mid-Continent regions.

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Earnings History for Cimarex Energy (NYSE:XEC)

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