Forest Oil Corp. Lowered to Underweight at Morgan Stanley (FST)
Forest Oil Corp. (NYSE:FST) was downgraded by equities research analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research note issued to investors on Tuesday, AnalystRatings.NET reports. They currently have a $4.00 price objective on the stock, down from their previous price objective of $6.00. Morgan Stanley’s target price would suggest a potential downside of 26.87% from the stock’s previous close.
The analysts wrote, “Forest’s relatively low asset value upside in the form of potential downspacing, stacked pay, or emerging plays is likely to cause FST shares to underperform peers exposed to those sources of upside. We are downgrading FST to UW from EW and lowering our PT to $4 from $6.”
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs Group Inc. downgraded shares of Forest Oil Corp. to a “sell” rating in a research note to investors on Tuesday. Finally, analysts at Robert W. Baird initiated coverage on shares of Forest Oil Corp. in a research note to investors on Wednesday, October 16th. They set an “outperform” rating on the stock. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Forest Oil Corp. has an average rating of “Hold” and an average price target of $6.39.
Forest Oil Corp. (NYSE:FST) traded down 8.04% on Tuesday, hitting $5.03. 6,755,477 shares of the company’s stock traded hands. Forest Oil Corp. has a 52-week low of $3.77 and a 52-week high of $8.69. The stock has a 50-day moving average of $5.87 and a 200-day moving average of $5.02. The company’s market cap is $584.6 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. Analysts expect that Forest Oil Corp. will post $0.27 EPS for the current fiscal year.
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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