Forest Oil Corp. Downgraded to Market Perform at Wells Fargo & Co. (FST)
Forest Oil Corp. (NYSE:FST) was downgraded by investment analysts at Wells Fargo & Co. from an “outperform” rating to a “market perform” rating in a note issued to investors on Wednesday, TheFlyOnTheWall.com reports.
Shares of Forest Oil Corp. (NYSE:FST) traded down 35.92% during mid-day trading on Wednesday, hitting $2.0699. The stock had a trading volume of 25,243,684 shares. Forest Oil Corp. has a 1-year low of $2.85 and a 1-year high of $6.67. The stock’s 50-day moving average is $3.21 and its 200-day moving average is $4.50. The company’s market cap is $240.7 million.
Forest Oil Corp. (NYSE:FST) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.02 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.03 by $0.01. The company had revenue of $88.49 million for the quarter, compared to the consensus estimate of $96.31 million. Analysts expect that Forest Oil Corp. will post $0.18 EPS for the current fiscal year.
FST has been the subject of a number of other recent research reports. Analysts at Barclays initiated coverage on shares of Forest Oil Corp. in a research note on Monday, February 3rd. They set an “underweight” rating and a $3.00 price target on the stock. Separately, analysts at Socgen reiterated a “hold” rating on shares of Forest Oil Corp. in a research note on Tuesday, January 14th. They now have a $4.00 price target on the stock, down previously from $7.00. Finally, analysts at Robert W. Baird downgraded shares of Forest Oil Corp. from an “outperform” rating to a “neutral” rating in a research note on Tuesday, December 17th. They now have a $4.00 price target on the stock, down previously from $7.00. Five research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Forest Oil Corp. currently has an average rating of “Hold” and a consensus target price of $4.83.
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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