Cimarex tops Street 3Q forecasts

DENVER (AP) _ Cimarex Energy Co. (XEC) on Tuesday reported third-quarter net income of $91.4 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Denver-based company said it had profit of 96 cents. Earnings, adjusted for non-recurring costs, were $1.09 per share.

The results topped Wall Street expectations. The average estimate of 28 analysts surveyed by Zacks Investment Research was for earnings of 97 cents per share.

The oil and natural gas company posted revenue of $463.7 million in the period, which also beat Street forecasts. Twenty-six analysts surveyed by Zacks expected $451.3 million.

Cimarex shares have dropped slightly more than 7 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $125.97, an increase of almost 3 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on XEC at https://www.zacks.com/ap/XEC