Oil & Gas Stock New Lows: Forest Oil (NYSE:FST), Talisman Energy (NYSE:TLM), SandRidge Mississippian (NYSE:SDR), PrimeEnergy Corporation (NASDAQ:PNRG)

Posted by on Mar 17, 2014

Law Offices of Howard G. Smith on Mar. 3 announced that it is investigating potential claims on behalf of investors of Forest Oil Corporation (NYSE:FST) concerning possible violations of federal securities laws. The investigation focuses on certain statements issued by Forest Oil concerning the Company’s financial performance and prospects. Forest Oil Corporation (NYSE:FST) shares after opening at $1.73 moved to $1.75 on last trade day and at the end of the day closed at $1.70. Company price to sales ratio in past twelve months was calculated as 0.45 and price to cash ratio as 2.99. Forest Oil Corporation (NYSE:FST) showed a negative weekly performance of -3.95%.

On Mar 12, Canadian energy explorer, Talisman Energy Inc. (NYSE:TLM) completed the divestment of part of its Montney assets, in northeast British Columbia to Progress Energy Canada Ltd. The sale, of about 127,000 net acres, would fetch Talisman Energy cash payment of C$1.5 billion. Talisman Energy Inc. (USA) (NYSE:TLM) shares fell -1.21% in last trading session and ended the day on $9.77. Talisman Energy Inc. (USA) (NYSE:TLM) return on equity ratio is recorded as -14.10% and its return on assets is -6.60%. Talisman Energy Inc. (USA) (NYSE:TLM) yearly performance is -17.20%.

SandRidge Mississippian Trust II(NYSE:SDR) is a statutory trust formed to own overriding royalty interests to be conveyed to the trust by SandRidge Energy, Inc. (SandRidge) in 67 producing horizontal wells, including 13 wells, which are awaiting completion (the Producing Wells), in the Mississippian formation in northern Oklahoma and southern Kansas, and overriding royalty interests in 206 horizontal development wells (The Development Wells) to be drilled in the Mississippian formation (the Development Wells) on properties within an Area of Mutual Interest (the AMI). SandRidge Mississippian Trust II (NYSE:SDR) shares moved down -0.12% in last trading session and was closed at $8.05, while trading in range of $7.86 – $8.15. SandRidge Mississippian Trust II (NYSE:SDR) year to date (YTD) performance is -4.28%.

Matthias Eckenstein, a director on the Board of Directors of PrimeEnergy Corporation (NASDAQ:PNRG), has informed the Board of Directors that he will not stand for re-election as a director of the Company’s Board of Directors at the Annual Meeting of the Company scheduled for May 22, 2014. PrimeEnergy Corporation (NASDAQ:PNRG) weekly performance is -11.09%. On last trading day company shares ended up $48.90. PrimeEnergy Corporation (NASDAQ:PNRG) distance from 50-day simple moving average (SMA50) is -5.79%.

Leave a Reply