I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community.
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Latest posts by Kristian Marshall (see all)
- Eye-Catching Stock to Track: Berry Petroleum Corporation (NASDAQ: BRY) - November 5, 2019
- Hot Stock in the Spotlight: Cimarex Energy Co. (NYSE: XEC) - October 29, 2019
- Stock under Consideration: WPX Energy Inc. (NYSE: WPX) - October 27, 2019
DENVER, October 29, 2019 – Shares of Cimarex Energy Co. (NYSE: XEC) inclined 2.75% to $45.99. The stock grabbed the investor’s attention and traded 1.574M shares as compared to its average daily volume of 2.01M shares. The stock’s institutional ownership stands at 97.31%.
Cimarex Energy Co. (XEC) reported first quarter 2019 net income of $26.30M, or $0.26 per share, compared to $186.30M, or $1.96 per share, in the same period a year ago. First quarter adjusted net income (non-GAAP) was $117.30M, or $1.20 per share, compared to first quarter 2018 adjusted net income (non-GAAP) of $173.60M, or $1.82 per share. Net cash provided by operating activities was $250.10M in the first quarter of 2019 compared to $383.10M in the same period a year ago. Adjusted cash flow from operations (non-GAAP) was $351.10M in the first quarter of 2019 compared to $367.20M in the first quarter a year ago.
Total company production volumes for the quarter averaged 258.0K barrels of oil equivalent (MBOE) per day. Oil production averaged 79.415K barrels (bbls) per day, up 22 percent from the same period a year ago and down less than one percent sequentially.
Cimarex invested $368.0M in exploration and development (E&D) during the first quarter, of which $319.0M is attributable to drilling and completion activities. First quarter investments were funded with cash flow from operations and cash on the balance sheet. Total debt at March 31, 2019 consisted of $2.00B of long-term notes. Cimarex had no borrowings under its revolving credit facility and a cash balance of $21.0M. Debt was 36 percent of total capitalization.
XEC has a market value of $4.67B while its EPS was booked as $6.19 in the last 12 months. The stock has 101.46M shares outstanding. In the profitability analysis, the company has gross profit margin of 76.90% while net profit margin was 25.20%. Beta value of the company was 1.35; beta is used to measure riskiness of the security. Analyst recommendation for this stock stands at 2.20.