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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Cimarex Quarterly Profit Rises 0 comments
    Feb 19, 2014 11:07 AM | about stocks: XEC

    Originally published at www.seclive.com

    Cimarex Energy Co. (NYSE:XEC) announced its fourth quarter financial results for the fiscal year 2013, reporting a rise in quarterly profits from a year ago. The company's earnings jumped from $99.15M and $1.14 per share to $206.83M and $2.37 per share. Revenue also rose from $440.87M to $516.60M, falling short of $526.41M analyst expectations. Fueled primarily from work in the Permian Basin, oil production increased 17% while gas production improved 6%. Despite adverse weather conditions that had a negative impact on production, this quarter's production still beat the year-ago quarter from 676.7 million cubic feet equivalent (MMcfe) per day to 704.9 MMcfe. The company is forecasting oil production growth between 17% and 19% with overall company production volumes up 13%.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: financial results, earnings Stocks: XEC
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