24/7 Wall St. » XEC

Top Pre-Market Analyst Downgrades (ABH, BBX, XEC, LGF, HK, VTNC)

Administrator — Wed, 11 Feb 2009 13:07:59 +0000

These are some of the top pre-market analyst downgrades we have seen this Wednesday morning:

AbitibiBowater (ABH) Cut to Underperform at RBC.
BankAtlantic (BBX) Cut to Underperform at FBR.
Cimarex Energy (XEC) Cut to Neutral at UBS.
Lions Gate (LGF) Cut to Maket Weight at Thomas Weisel.
Petrohawk Energy (HK) Cut to Market Perform at FBR.
Vitran (VTNC) Cut to Hold at Canaccord.

Jon C. Ogg

February 11, 2009

Posted in Analyst Calls Tagged: ABH, BBX, HK, LGF, VTNC, XEC

Cimarex Buys Back Senior Notes, With More Debt (XEC)

247wallst — Tue, 16 Dec 2008 12:57:04 +0000

Cimarex Energy Company is one of those mid-cap energy stocks that is well-liked by institutional investors. Nearly 90% of the company’s stock is held by institutional investors. In good times, that’s good. In bad times, those investors might need the cash themselves. That appears to be what’s happened today.

Cimarex was forced to offer to redeem $125 million of floating rateconvertible senior notes that were not due until 2023. As of close ofbusiness yesterday, $105.6 million of the notes have been tendered.

The company will borrow the money to pay for the buyback with fundsfrom its bank credit facility. The company has a $1 billion facility ofwhich it has permission to borrow $500 million. Now that figure is $375million or so.

Cimarex shares are up more 2.5% in mid-day trading. The stock is down about 67% from its 52-week high.

Paul Ausick
December 16, 2008

Posted in Oil & Gas Tagged: XEC

Pre-Market Analyst Calls (June 5, 2007)

247wallst — Tue, 05 Jun 2007 06:37:56 +0000

AAP raised to Neutral at JPMorgan.
ALDN cut to Mkt Perform at FBR.
ALY started as Outperform at Wachovia.
BEBE cut to Mkt Perform at FBR.
BEN cut to Underweight at JPMorgan.
BHP raised to Buy at Citigroup.
CPO started as Buy at BB&T.
CRZO started as Buy at Sun Trust Robinson Humphrey.
FIF raised to Outperform at Piper Jaffray.
HAS cut to Underweight at JPMorgan.
JNPR cut to Neutral at UBS.
OCNF started as Buy at Cantor Fitzgerald.
OHI started as Neutral at UBS.
OPWV cut to Underweight at JPMorgan; cut to Underperform at CIBC.
ORBC started as Mkt Perform at Piper Jaffray.
REG started as Neutral at Baird.
SFLY started as Strong Buy at JMP Securities.
SWIR raised to Outperform at CIBC.
SLR raised to Neutral at Credit Suisse.
TELK cut to Mkt Perform at Wachovia.
TRMP cut to Underperform at Bear Stearns.
WRI started as Outperform at Baird.
XEC cut to Neutral at UBS.

Jon C. Ogg
June 5, 2007