Cimarex Energy (XEC) Beats on Earnings & Revenues in Q1
Cimarex Energy Co. XEC, 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
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