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Gearing Up for Cimarex Energy’s 2Q16 Earnings

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2Q16 earnings release

Cimarex Energy (XEC) is expected to release its 2Q16 earnings on August 3, 2016, after the Market closes.

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Cimarex Energy’s 2Q16 revenue estimate

Cimarex Energy’s 2Q16 revenue estimates are lower than its revenue for most of the past quarters. For 2Q16, its revenue estimate is ~$288 million. That’s ~32% lower than its 2Q15 revenue but ~20% higher than its 1Q16 revenue.

The higher estimate is likely due to improving crude oil prices (USO) since the beginning of 2016. This could result in higher realized prices for Cimarex Energy in 2Q16.

The above graph shows that Cimarex Energy’s revenues have missed estimates in the previous two quarters. Investors can watch to see how things pan out for the upstream company in 2Q16.

Cimarex Energy’s 2Q16 EPS estimates

Cimarex Energy’s 2Q16 earnings per share (or EPS) estimate is -$0.01. Its 1Q16 loss per share was $0.40. The corresponding quarter’s earnings per share in 2015 were $0.15.

Cimarex Energy’s peers Apache (APA) and Newfield Exploration (NFX) are expected to report earnings per share of -$0.16 and $0.13, respectively, in 2Q16. All these companies make up 6.1% of the SPDR S&P Oil & Gas Exploration & Production ETF (XOP).

XEC’s 2015 revenue and earnings recap

For fiscal 2015, Cimarex Energy (XEC) reported adjusted EPS of $0.01. It reported -$0.26 EPS in 2014. XEC’s 2015 revenue came in at ~$502 million, and its revenue in 2014 was ~$391 million.

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