Forest Oil Corp. Downgraded to Hold at Stifel Nicolaus (FST)
Forest Oil Corp. (NYSE:FST) was downgraded by equities researchers at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research report issued on Monday, TheFlyOnTheWall.com reports. The analysts noted that the move was a valuation call.
Forest Oil Corp. (NYSE:FST) traded down 1.68% on Monday, hitting $6.2825. The stock had a trading volume of 787,931 shares. Forest Oil Corp. has a 52-week low of $3.77 and a 52-week high of $9.12. The stock’s 50-day moving average is $5.5 and its 200-day moving average is $4.99. The company’s market cap is $730.1 million.
Forest Oil Corp. (NYSE:FST) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.02 by $0.04. The company had revenue of $116.81 million for the quarter, compared to the consensus estimate of $120.13 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. On average, analysts predict that Forest Oil Corp. will post $0.27 earnings per share for the current fiscal year.
A number of other firms have also recently commented on FST. Analysts at Morgan Stanley upgraded shares of Forest Oil Corp. (NYSE:FST) from an “underweight” rating to an “equal weight” rating in a research note to investors on Thursday, July 18th. They now have a $6.00 price target on the stock, down previously from $7.00. Analysts at Zacks reiterated a “neutral” rating on shares of Forest Oil Corp. (NYSE:FST) in a research note to investors on Tuesday, July 2nd. They now have a $4.25 price target on the stock.
One analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $6.92.
Forest Oil Corporation (NYSE:FST) is an independent oil and gas company engaged in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in North America.
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