CIMAREX ENERGY $58.40 (New York symbol XEC; TSINetwork Rating: Extra Risk) (303-295-3995; www.cimarex.com; Shares outstanding: 85.7 million; Market cap: $5.0 billion; Dividend yield: 0.8%) produces and explores for oil and natural gas. Gas makes up 53% of its output.
Cimarex’s properties are in the Mid-Continent region of the U.S., which includes Oklahoma, Kansas and Texas; the Permian Basin of western Texas and southeastern New Mexico; and the Texas Gulf Coast.
In the three months ended March 31, 2012, Cimarex’s production averaged 603.5 million cubic feet of natural gas equivalent per day (including oil). That’s up 2.5%, from 590 million cubic feet a year earlier.
Even so, Cimarex’s cash flow per share fell slightly, to $3.54 from $3.56, due to lower gas prices.
Cimarex trades at 4.1 times its forecast 2012 cash flow of $14.16 a share, based on the latest quarter. The company’s long-term debt of $572 million is a low 11.4% of its market cap.
To increase its production, Cimarex will spend as much…
Privacy Policy and Terms of Use
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What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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Does TSI Network Use the Information It Receives?
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Changes to this Policy
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