Equities researchers at RBC Capital reduced their price target on shares of Forest Oil Corp. (NYSE:FST) from $4.50 to $3.00 in a research report issued on Wednesday, Analyst Ratings Net reports. RBC Capital’s target price points to a potential downside of 7.12% from the stock’s previous close. Forest Oil Corporation (NYSE:FST) stock opened at $2.24 in last session, and closed at $2.01, while the day range of FST stock is $1.94-$2.46.The stock showed a negative weekly performance of -37.58%.
Alcoa Inc (NYSE:AA), the aluminum producer that has of late come to known for running away from high-cost low-margin operations has announced a new electricity deal for its projects in Quebec province of Canada. The company said it reached a deal with Hydro-Quebec for the renewal of power supply contract stretching to 2036. Under the latest contract, Hydro-Quebec will supply power for the operations at Deschambault and Becancour until 2030. And the Baie-Comeau facility has had its power plan renewed until 2036. But even with the deal that now settles some of the company’s electricity concerns, Alcoa announced that no more potlines will be opened to replace those that it had shut down. Alcoa Inc (NYSE:AA) has earmarked $250 million for investment over the next five years at its remaining three aluminum facilities in Quebec. Alcoa Inc (NYSE:AA) stock opened at $11.65, in last session and closed at $12.05, by gained 3.70%.The 52 week range was $7.63-$12.16.Company’s market capitalization is $12.99 billion.
Petroleo Brasileiro S.A. (NYSE: PBR), better known as Petrobras, reported fourth-quarter and full-year 2013 results after markets closed on Tuesday. The Brazilian behemoth posted full-year sales of 349.9 billion reais (about $150 billion at one real equal to $0.43). Net income for the year rose 11% to $10.13 billion, but fourth-quarter net profit fell 19% year-over-year to $2.7 billion. Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) stock loosed -2.29% and finished the last session at $11.07.The EPS of the stock remained 1.85.Company’s market capitalization is $72.20 billion.
Chesapeake Energy Corporation (NYSE:CHK) released the earnings results from its fourth quarter of the year, greatly missing expectations. The Chesapeake Energy Corporation reported earnings of 27 cents per share, excluding items, on revenue of $4.54 billion. Analysts had been expecting Chesapeake to report 41 cents per share in earnings on $4.86 billion in revenue. Chesapeake Energy Corporation (NYSE:CHK) stock opened the session at $26.10, and closed the session at $25.61.The 52 week range of the CHK stock remained $18.21-$29.06 and the day range was $24.75-$26.10.