Welcome to our dedicated page for XEC news (Ticker: XEC), a resource for investors and traders seeking the latest updates and insights on XEC stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect XEC's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of XEC's position in the market.
Cimarex Energy Co. (NYSE: XEC) has announced a cash dividend of $20.3125 per share on its 8⅛ percent Series A Cumulative Perpetual Convertible Preferred Stock. This dividend is payable on July 15, 2021, to shareholders on record as of July 1, 2021, covering the period from April 16, 2021 to July 15, 2021. The company operates primarily in the Permian Basin and Mid-Continent regions of the U.S., focusing on oil and gas exploration and production.
Cimarex Energy Co. (NYSE: XEC) has declared a quarterly dividend of $0.27 per share on its common stock. This dividend is to be paid on September 1, 2021, with the record date set for August 13, 2021. As an independent oil and gas exploration and production company, Cimarex operates primarily in the Permian Basin and Mid-Continent areas of the U.S.
Cimarex Energy Co. (NYSE: XEC) reported a first-quarter 2021 net income of $128.1 million, translating to $1.25 per share. Excluding a $99.4 million mark-to-market loss on derivatives, adjusted net income was $203.7 million or $1.98 per share. The company generated $403 million in operating cash flow, with free cash flow at $231 million. Cimarex plans to sell non-core assets for approximately $115 million and anticipates oil production growth of around 30% by Q4 2021. Despite increased transportation costs due to severe winter weather, Cimarex maintains a strong financial position with $524 million in cash.
U.S. Well Services (Nasdaq: USWS) has filed a patent infringement lawsuit against Halliburton (NYSE: HAL) and Cimarex Energy (NYSE: XEC) in the U.S. District Court for the Western District of Texas. The complaint alleges infringement on multiple patents, particularly focusing on electric hydraulic fracturing technologies. U.S. Well Services holds a robust portfolio with 42 granted patents, 4 allowed, and 185 pending. CEO Joel Broussard emphasized the critical importance of defending their intellectual property to maintain a competitive edge in the hydraulic fracturing market.
Cimarex Energy Co. (NYSE: XEC) announced a conference call scheduled for May 6, 2021, at 9:00 AM MT to discuss its first-quarter 2021 financial results. The results will be disclosed on May 5, 2021, after market close. A live audio webcast will be accessible on the company's website, with an archive available post-event. Cimarex operates primarily in the Permian Basin and Mid-Continent areas of the U.S.
Cimarex Energy Co. (NYSE: XEC) will be presenting at the 21st Annual Simmons Energy Conference on March 23, 2021, at 1:30 PM MT (3:30 PM ET). Tom Jorden, Chairman and CEO, will lead the presentation. A live audio webcast will be accessible on the Company's website's 'Events & Presentations' page, with an archived version available afterward. Based in Denver, Cimarex is an independent oil and gas exploration and production company focusing on the Permian Basin and Mid-Continent areas of the U.S.
Cimarex Energy Co. (NYSE: XEC) has appointed Megan Hays as the new Vice President of Investor Relations. Hays brings 15 years of experience in strategic communications and capital markets, previously serving in a similar role at Concho Resources Inc. She will report to Mark Burford, Senior Vice President and CFO. Burford expressed excitement about Hays's strong industry relationships and expertise in sustainability. Hays holds a degree from Texas Christian University and is involved with the Women's Energy Network.
Cimarex Energy Co. (NYSE: XEC) announced a projected 2021 capital investment of $650 - $750 million, focusing primarily on drilling and completion in the Permian Basin. The capital expenditure is allocated with $500 - 600 million for drilling, approximately $40 million for midstream, and $110 million for other expenses. Oil production is forecasted to average between 75 - 81 MBbls per day in 2021, with an average total equivalent production of 235 - 255 MBOE per day. First quarter guidance anticipates a 5-7% negative impact from weather-related downtimes.
Cimarex Energy Co. (NYSE: XEC) reported a fourth-quarter net income of $24.7 million, or $0.25 per share, compared to a net loss of $384.1 million a year prior. However, the full year net loss was $1,967.5 million, primarily due to a non-cash impairment charge. Average daily oil production decreased to 67.8 MBbls in Q4 and 76.7 MBbls for the year, marking an 11% decline. The company generated $904.2 million in net cash from operations and reported $372 million in free cash flow. Total debt stood at $2 billion with a cash balance of $273.1 million at year-end.
Cimarex Energy Co. (NYSE: XEC) announced a cash dividend of $20.3125 per share on its 8⅛ percent Series A Preferred Stock. The dividend, covering the period from January 16 to April 15, 2021, will be payable on April 15, 2021, to shareholders of record as of April 1, 2021. This reflects the company's ongoing commitment to return value to its investors.
