Carrizo Oil & Gas (CRZO), Forest Oil Co. (FST), Parker Drilling Company (PKD), Clear Channel Outdoor Holdings, Inc. (CCO), Novartis (NVS), Monster Worldwide, Inc. (MWW) and Tyson Foods, Inc. (TSN) had ratings and price targets adjusted by analysts.
Imperial Capital downgraded Carrizo Oil & Gas (CRZO) to an "Outperform" rating.
Capital One upgraded Forest Oil Co. (FST) to a "Neutral" rating.
Global Hunter Securities initiated coverage on Parker Drilling Company (PKD). They placed an "Accumulate" rating on the company.
Wells Fargo & Co. downgraded Clear Channel Outdoor Holdings, Inc. (CCO) from an "Outperform" rating to a "Market Perform" rating.
JPMorgan Chase & Co. downgraded Novartis (NVS) from an "Overweight" rating to a "Neutral" rating.
Evercore Partners upgraded Monster Worldwide, Inc. (MWW) from an "Equal Weight" rating to a "Overweight" rating.
Davenport upgraded Tyson Foods, Inc. (TSN) from a "Neutral" rating to a "Buy" rating.
Showing posts with label Forest Oil. Show all posts
Showing posts with label Forest Oil. Show all posts
Tuesday, March 6, 2012
Thursday, September 23, 2010
Exxon (NYSE:XOM), Forest Oil (NYSE:FST) Downgraded by Howard Weil, Hess (NYSE:HES) Upgraded
Howard Weil sent a couple of mixed signals with the oil sector, downgrading ExxonMobil (NYSE:XOM) and Forest Oil (NYSE:FST), while upgrading Hess Corp. (NYSE:HES).
Exxon was downgraded from "Focus Stock" to "Market Outperform" with the price target lowered from $81 to $77.
The oil giant closed at $61.45, providing an approximate 25 percent upside for the stock.
Forest Oil was downgraded from "Market Outperform" to "Market Perform," with the price target lowered from $39 to $34. Forest closed Wednesday at $29.22, down $0.29, or 0.98 percent.
Hess on the other hand was upgraded from "Market Perform" to "Market Outperform. The price target on Hess was downwardly revised from $78 to $73.
Hess closed at $65.40, gaining $0.25, or 0.46 percent.
Exxon was downgraded from "Focus Stock" to "Market Outperform" with the price target lowered from $81 to $77.
The oil giant closed at $61.45, providing an approximate 25 percent upside for the stock.
Forest Oil was downgraded from "Market Outperform" to "Market Perform," with the price target lowered from $39 to $34. Forest closed Wednesday at $29.22, down $0.29, or 0.98 percent.
Hess on the other hand was upgraded from "Market Perform" to "Market Outperform. The price target on Hess was downwardly revised from $78 to $73.
Hess closed at $65.40, gaining $0.25, or 0.46 percent.
Wednesday, September 15, 2010
Forest Oil (NYSE:FST) Upgraded by Barclays (NYSE:BCS)
Barclays upgraded Forest Oil (NYSE:FST) from "Equalweight" to "Overweight," with a price target of $40 on them, up from the prior price target of $38.
Short term, if Forest continues to be successful at Granite Wash, that should increase upside production for 2010 and 2011, while ongoing success at Eagle Ford and Nikanassin would contribute to longer term growth.
"Continued success in the Granite Wash could drive some upside to our production estimates in '10 and '11. Success in the Nikanassin play in Canada and Eagle Ford Shale could have a greater impact to the growth profile in 2012 and beyond," said Barclays.
Forest closed at $29.21 Tuesday, falling $0.14, or 0.48 percent.
Short term, if Forest continues to be successful at Granite Wash, that should increase upside production for 2010 and 2011, while ongoing success at Eagle Ford and Nikanassin would contribute to longer term growth.
"Continued success in the Granite Wash could drive some upside to our production estimates in '10 and '11. Success in the Nikanassin play in Canada and Eagle Ford Shale could have a greater impact to the growth profile in 2012 and beyond," said Barclays.
Forest closed at $29.21 Tuesday, falling $0.14, or 0.48 percent.
Tuesday, August 3, 2010
Forest Oil (NYSE:FST) Earnings Down 10 Percent
While the Forest Oil Corp. (NYSE:FST) was able to barely beat analysts' estimates, earnings for the second quarter still dropped 10 percent, as the company cited lower natural gas prices as the reason for the poor performance.
Earnings for the quarter reached $33.3 million, or 29 cents a share, falling from the $37.1 million, or 36 cents a share last year in the same quarter.
The market was looking for revenue of $220 million, but Forest was oil able to generate $208.1 million. Even so, that was a 14 percent gain.
Forest President and Chief Executive Officer H. Craig Clark, said, “We have the ability to annually grow net sales volumes at double digit rates at attractive rates of return while spending near our cash flow. The growth from the Texas Panhandle, along with the other core assets in the portfolio, has resulted in an increase to our net sales volume guidance for 2010. As a result of a significant project inventory in our core areas we expect the asset base to continue to yield growth well into the future.”
The challenge in the natural gas sector isn't going to be sales, it's the abundance of supply which will challenge pricing in the years ahead, and all those with a large exposure to natural gas will have to deal with that.
Forest Oil closed Monday's session at $29.80, gaining $1.21, or 4.23 percent.
Earnings for the quarter reached $33.3 million, or 29 cents a share, falling from the $37.1 million, or 36 cents a share last year in the same quarter.
The market was looking for revenue of $220 million, but Forest was oil able to generate $208.1 million. Even so, that was a 14 percent gain.
Forest President and Chief Executive Officer H. Craig Clark, said, “We have the ability to annually grow net sales volumes at double digit rates at attractive rates of return while spending near our cash flow. The growth from the Texas Panhandle, along with the other core assets in the portfolio, has resulted in an increase to our net sales volume guidance for 2010. As a result of a significant project inventory in our core areas we expect the asset base to continue to yield growth well into the future.”
The challenge in the natural gas sector isn't going to be sales, it's the abundance of supply which will challenge pricing in the years ahead, and all those with a large exposure to natural gas will have to deal with that.
Forest Oil closed Monday's session at $29.80, gaining $1.21, or 4.23 percent.
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