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Cimarex Energy Co. Message Board

  • tobinator00 tobinator00 May 5, 2003 1:35 PM Flag

    XEC 1st Quarter Estimate

    Here's what I have:

    I have a spreadsheet XEC. Here's what I come up with:

    Natural Gas Production............13,000 mmcf (A)
    Average Price of Gas..............$5.25/mcf (B)
    Natural Gas Revenue ($1000's)...68,250

    Oil Production...........603,000 bbls
    Average Oil Price........$30.00 (C)
    Oil Revenue ($1000's)....18,090

    Other Revenue ($1000's)..500

    Total Revenue ($1000's)............86,840
    Operating Expenses ($1000's)....37,750(D)

    Income Before Taxes ($1000's)......49,090
    Income Taxes @35% ($1000's).....17,181

    1st Quarter Earnings ($1000's)....31,909

    Shares Outstanding (1000's).......41,100

    Diluted Earnings per Share........$0.78

    Notes:
    (A) Estimated based on last quarter.
    (B) Estimated gas unit price
    (C) Estimated Oil Price
    (D) All expenses lumped together.

    FYI: If their average gas comes in at $5.50, EPS = $0.83. $5.75 gas gets EPS = $0.88.

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    • Something interesting I've noticed. Analysts have only given a .48 target to XEC for next quarter. That assumes they will only get $3.75 -$4.00 for gas in the second quarter. Well, already, April is in the books. They should have gotten $5.50 + for the month, and the 12 month strip aint lookin' bad. Real good chance they will either blow out earnings next quarter, or the analysts will have to raise their projections soon.

      Gopher

    • tobinator, thanks for your work...now lets hope there isn't a nasty surprise of some kind lurking. Response to earnings last quarter wasn't that great....E&Ps are flat to lower today dispite a surge in NG prices and better crude....Don't like it when the stocks don't follow the commods.

      Nevertheless, replaced more of XEC sold above $20 today, figuring numbers like yours stand a pretty good chance of propelling the stock over $21....if NG prices stay above $5.50.

 
XEC
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