Raymond James Downgrades Independent Oil & Gas Stocks NFX, KWK & XEC

This morning, Raymond James downgraded Independent Oil & Gas stocks Newfield Exploration (NYSE: NFX) and Quicksilver Resources (NYSE: KWK) from Market Perform to Underperform. Both stocks are currently down 1%

Raymond James also downgraded Cimarex Energy (NYSE: XEC) from Strong Buy to Outperform. However, shares are being clobbered in the first hour of trading, currently down 3%.

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