CIMAREX ENERGY $118.11 (New York symbol XEC; TSINetwork Rating: Extra Risk) (303-295-3995; www.cimarex.com; Shares outstanding: 87.0 million; Market cap: $10.0 billion; Dividend yield: 0.5%) produces and explores for oil and gas. Gas makes up 50% of its output.
Cimarex’s properties are in the Mid-Continent region of the U.S., which includes Oklahoma, Kansas and Texas (49% of production); the Permian Basin of western Texas and southeastern New Mexico (47%); and the Texas Gulf Coast (4%).
In the three months ended December 31, 2013, Cimarex’s production averaged 704.9 million cubic feet of natural gas equivalent per day (including oil). That’s up 4.2% from 676.7 million cubic feet a year earlier.
Thanks to the higher production and increased oil and gas prices, Cimarex’s cash flow per share rose 6.8%, to $4.40 from $4.12.
The stock trades at 6.7 times Cimarex’s annual cash flow of $17.60 a share, based on the latest quarter. Its total debt of $934 million is a low 9.3% of its market cap. The stock yields 0.5%.
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