Forest Oil Rises On Unusually High Volume (FST)

NEW YORK ( TheStreet) -- Forest Oil (NYSE: FST) is trading at unusually high volume Friday with 15.6 million shares changing hands. It is currently at four times its average daily volume and trading up 44 cents (+6.8%) at $6.90 as of 3:45 p.m. ET.

Forest Oil has a market cap of $815 million and is part of the basic materials sector and energy industry. Shares are down 48.9% year to date as of the close of trading on Thursday.

Forest Oil Corporation, an independent oil and gas company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. The company has a P/E ratio of 10.6, above the average energy industry P/E ratio of 7.4 and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Forest Oil as a hold. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, expanding profit margins and notable return on equity. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, feeble growth in the company's earnings per share and deteriorating net income. You can view the full Forest Oil Ratings Report.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.

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