Raymond James Cuts Forest Oil to Market Perform (FST)
Forest Oil (NYSE: FST) was downgraded by analysts at Raymond James (NYSE: RJF) from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group (NYSE: JEF) reiterated a “hold” rating on shares of Forest Oil in a research note to investors on Monday, May 7th. Separately, analysts at Canaccord Genuity reiterated a “hold” rating on shares of Forest Oil in a research note to investors on Wednesday, May 2nd. Finally, analysts at Societe Generale cut their price target on shares of Forest Oil to $16.50 in a research note to investors on Tuesday, May 1st.
Shares of Forest Oil traded down 1.38% during mid-day trading on Thursday, hitting $8.58. Forest Oil has a 52 week low of $8.50 and a 52 week high of $36.70. The company has a market cap of $984.6 million and a P/E ratio of 9.43.
Forest Oil last announced its earnings results on Monday, April 30th. The company reported $0.11 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.20 by $0.09. On average, analysts predict that Forest Oil will post $0.15 earnings per share next quarter.
Forest Oil Corporation (Forest) 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.