CIMAREX ENERGY $99.54 (New York symbol XEC; TSINetwork Rating: Extra Risk) (303-295-3995; www.cimarex.com; Shares outstanding: 86.9 million; Market cap: $8.7 billion; Dividend yield: 0.6%) 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 (47% of production); the Permian Basin of western Texas and southeastern New Mexico (49%); and the Texas Gulf Coast (4%).
In the three months ended September 30, 2013, Cimarex’s production averaged 716.8 million cubic feet of natural gas equivalent per day (including oil). That’s up 12.8% from 635.1 million cubic feet a year earlier.
Thanks to the higher production and increased oil and gas prices, Cimarex’s cash flow per share jumped 41.4%, to $4.27 from $3.02.
The stock trades at 5.8 times Cimarex’s annual cash flow of $17.08 a share, based on the latest quarter. Its total debt of $900 million is a low 10.3% of its market cap. The shares yield 0.6%.
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