The Company is an independent oil and gas exploration and production company. Its operations are presently focused in Oklahoma, Texas, New Mexico, Kansas, Louisiana, and the Gulf of Mexico.
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Cimarex Energy is increasing oil and gas production at the same time that crude is hitting record prices, a bullish combination for an exploration company. The company has surprised on estimates the last four quarters by an average of 17.89%. Even with the stock soaring, Cimarex still trades with a forward P/E of only 10.82.
As happened in the first quarter as oil and gas prices rose sharply, the brokerage analysts have been scrambling to raise estimates for the second quarter and the full year.
In the last month, second quarter consensus estimates rose by 18 cents to $1.81 from $1.63. For the full year, estimates are up 6% in the last 30 days to $6.81 from $6.40 per share.
Despite the stock trading near 52-week highs, Cimarex still has attractive value characteristics. Its forward P/E is still only 10.82. XEC's price-to-book is 1.69, under the industry average of 2.76.
The company has an excellent five year average return on equity (ROE) of 16.48%. As an added bonus, Cimarex has a dividend yield of 0.40%.