Cimarex Energy Co. , incorporated on Feb 14, 2002, is an independent oil & gas exploration and production firm. The company’s operations are located mainly in Oklahoma, Texas and New Mexico. Its exploration and production (E&P) activities take place primarily in two areas: the Permian Basin and the Mid-Continent region.
Currently, the company has a Zacks Rank #3 (Hold) but that could change following its first quarter 2017 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key details from the just-released announcement below:
Earnings:Cimarex Energy beats on earnings. Earnings per share from (excluding special items) came in at $1.05, surpassed the Zacks Consensus Estimate of 85 cents.
Revenue:Revenues of $447.2 million came above the Zacks Consensus Estimate of $428 million.
Key Stats: In the quarter under review, total production averaged 1,063 million cubic feet equivalent (MMcfe) per day, up 9% year over year. Oil volumes increased 15% year over year to 52.2 thousand barrels per day (MBbls/d) and natural gas volumes jumped 3% to 487.2 MMcf, whereas natural gas liquids (NGL) volumes inched up 17.7% to 43.8 MBbls/d.
Year-over-year realized prices for natural gas, crude oil and NGL increased 57%, 70%, and 107% to $3.01 per thousand cubic feet, $47.71 per barrel and $20.40 per barrel, respectively, in the reported quarter.
Check back later for our full write up on this Cimarex Energy earnings report later!
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Cimarex Energy (XEC) Beats on Earnings & Revenues in Q1
Cimarex Energy Co. , incorporated on Feb 14, 2002, is an independent oil & gas exploration and production firm. The company’s operations are located mainly in Oklahoma, Texas and New Mexico. Its exploration and production (E&P) activities take place primarily in two areas: the Permian Basin and the Mid-Continent region.
Currently, the company has a Zacks Rank #3 (Hold) but that could change following its first quarter 2017 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key details from the just-released announcement below:
Earnings:Cimarex Energy beats on earnings. Earnings per share from (excluding special items) came in at $1.05, surpassed the Zacks Consensus Estimate of 85 cents.
Revenue:Revenues of $447.2 million came above the Zacks Consensus Estimate of $428 million.
Key Stats: In the quarter under review, total production averaged 1,063 million cubic feet equivalent (MMcfe) per day, up 9% year over year. Oil volumes increased 15% year over year to 52.2 thousand barrels per day (MBbls/d) and natural gas volumes jumped 3% to 487.2 MMcf, whereas natural gas liquids (NGL) volumes inched up 17.7% to 43.8 MBbls/d.
Year-over-year realized prices for natural gas, crude oil and NGL increased 57%, 70%, and 107% to $3.01 per thousand cubic feet, $47.71 per barrel and $20.40 per barrel, respectively, in the reported quarter.
Check back later for our full write up on this Cimarex Energy earnings report later!
Cimarex Energy Co Price and EPS Surprise
Cimarex Energy Co Price and EPS Surprise | Cimarex Energy Co Quote
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>