CIMAREX ENERGY $148.50 (New York symbol XEC; TSINetwork Rating: Extra Risk) (303-295-3995; www.cimarex.com; Shares outstanding: 87.0 million; Market cap: $12.5 billion; Dividend yield: 0.4%) produces and explores for natural gas and oil. Gas makes up 48% of its output.
Cimarex’s properties are in the Mid-Continent region of the U.S., which includes Oklahoma, Kansas and Texas (50% of production); the Permian Basin of western Texas and southeastern New Mexico (47%); and the Texas Gulf Coast (3%).
In the three months ended March 31, 2014, Cimarex’s production averaged 740.4 million cubic feet of natural gas equivalent per day (including oil). That’s up 12.0% from 661.1 million cubic feet a year earlier.
Thanks to the higher production and increased oil and gas prices, Cimarex’s cash flow per share rose 39.9%, to $4.00 from $2.86.
The stock trades at 9.3 times Cimarex’s annual cash flow of $16 a share, based on the latest quarter. Its total debt of $1.03 billion is a low 8.2% of its market cap. The stock yields 0.4%.
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