Cimarex: 4Q Earnings Snapshot
DENVER (AP) _ Cimarex Energy Co. (XEC) on Wednesday reported fourth-quarter net income of $316.2 million.
The Denver-based company said it had profit of $3.32 per share. Earnings, adjusted for non-recurring gains, came to $1.98 per share.
The results topped Wall Street expectations. The average estimate of 18 analysts surveyed by Zacks Investment Research was for earnings of $1.75 per share.
The oil and natural gas company posted revenue of $624.1 million in the period, which also topped Street forecasts. Eighteen analysts surveyed by Zacks expected $615.3 million.
For the year, the company reported profit of $791.9 million, or $8.32 per share. Revenue was reported as $2.34 billion.
Cimarex shares have increased 24 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $76.57, a decrease of 22 percent in the last 12 months.