Insider Selling: Forbes Energy Services Director Unloads 2,100 Shares of Stock (FES)
Forbes Energy Services (NYSE:FES) Director William Sherrill sold 2,100 shares of the stock on the open market in a transaction dated Monday, September 16th. The stock was sold at an average price of $4.90, for a total value of $10,290.00. Following the sale, the director now directly owns 12,035 shares of the company’s stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on FES shares. Analysts at Zacks upgraded shares of Forbes Energy Services (NYSE:FES) from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday, August 15th. They now have a $4.60 price target on the stock. Separately, analysts at Global Hunter Securities raised their price target on shares of Forbes Energy Services (NYSE:FES) from $4.75 to $5.50 in a research note to investors on Tuesday, August 13th. They now have a “buy” rating on the stock.
Forbes Energy Services (NYSE:FES) traded up 4.43% during mid-day trading on Tuesday, hitting $4.95. The stock had a trading volume of 14,202 shares. Forbes Energy Services has a one year low of $1.66 and a one year high of $5.31. The stock has a 50-day moving average of $4.6 and a 200-day moving average of $3.96. The company’s market cap is $105.9 million.
Forbes Energy Services (NYSE:FES) last issued its quarterly earnings data on Friday, August 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.07. The company had revenue of $103.70 million for the quarter, compared to the consensus estimate of $109.97 million. During the same quarter last year, the company posted $0.09 earnings per share. On average, analysts predict that Forbes Energy Services will post $-0.19 earnings per share for the current fiscal year.
Forbes Energy Services Ltd. (NYSE:FES) is an independent oilfield services contractor that provides a range of well site services to oil and natural gas drilling and producing companies to help develop and enhance the production of oil and natural gas.
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