Forest Oil Shares Jumped: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Forest Oil (NYS: FST) rose 13% in a continued move after the company reported earnings.
So what: The earnings report was actually released on Monday after the close, but with the focus on oil's drop and Europe yesterday, the good news was swept under the rug. During the third quarter, revenue was $182.7 million and earnings per share of $0.52 crushed estimates of $0.25 from analysts.
Now what: The stock did rise at the end of the day yesterday, but the move has continued today as investors digest the earnings report and yesterday's conference call. The rise in the price of oil also hasn't hurt today, reversing a move we saw yesterday. I like shares of Forest Oil here and I think the company is executing well and should continue its growth with more wells.
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At the time this article was published Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.