DryShips Inc. (NASDAQ:DRYS) Up 1.62%, Forest Oil Corporation (NYSE:FST) Up 5.20%

Posted by Chris Bell May 3, 2013 0 Comment 2166 views


Northern, WI 05/03/2013 (GDPInsider) –  DryShips Inc. (NASDAQ:DRYS) opened trading at 1.85 after closing previously at 1.89. The stock has rallyied past its previous close and is now up a modest 1.86% with a range of 1.84 and 1.90. Volume is 1.25 million and the stock is trading 39.70% below its 52-week high of 3.14 and 29.69% above its 52-week low of 1.46.

DryShips Inc. is a holding company which specializes in the ocean transport of drybulk cargoes and crude oil. The company owns a fleet of drybulk carrier vessels, oil tankers and is also engaged in offshore drilling services. DryShips Inc. is heavily reliant on the economic outputs of large economies like the U.S. and China. Movements in the Baltic Index have fluctuated in recent months and DRYS has more or less mirrored its price movements against the Baltic Index. The stock is trading down 0.90% on its 50-day simple moving average but is up 3.41% on its 20-day simple moving average. The target price for the stock is 2.30 and sales Q/Q has risen 30.92%. The company has a market cap of $746.96 million and a forward P/E of 6.38. The stock has a RSI of 53.42 indicating that it is neither oversold nor overbought at these levels.

Is DRYS a solid investment at these levels? Get exclusive data and trends here.

Forest Oil Corporation (NYSE:FST) opened trading today at 4.31 and is up 5.20% on volume of 1.17 million. The stock is trading below its average volume of 4.14 million and has a range of 4.26 and 4.50. The technical chart for FST shows a southward trend which has prevailed since February 2013. The stock is down 61.01% on its 52-week high of 11.54 but up 11.11% on its 52-week low of 4.05.

Forest Oil is coming off a freshly signed deal with Schlumberger and the Eagle Ford joint venture is expected by some analysts to add a boost to FST. Oil and gas had it’s up and downs in recent years but much of the world continues to rely on fossil fuels to satisfy its energy needs. Forest Oil has is estimated to have 1,904 billions of cubic feet equivalents and as December 2011, 97% of its reserves were situated in the United States.

Forest Oil has a market cap of 504.72 million and a forward P/E of 6.71. The stock has a target price of 7.19 and a RSI of 46.95.

How Should Investors Trade FST Now? Get exclusive insights and updates here.

 

 

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About Chris Bell

Chris Bell is an investing reporter for GDP Insider. Chris covers financial markets and Wall Street, concentrating on developments affecting individual investors and their portfolios. Chris is also over consumer reporter and covers a wide variety of issues ranging from housing to immigration to urban poverty. Chris graduated from the University of Scranton with a degree in Communication and Philosophy. Chris's diligent investigations earned him the honor of being named "Best Reporter" once by the Headliners Foundation of Texas and once by the Houston Press Club.

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