Forest Oil (FST) (HLX) (UPL) (REXX) (PDCO) (PETD) Ratings, Price Targets

Forest Oil (NYSE: FST), Helix Energy Solutions Group (NYSE: HLX), Ultra Petroleum (NYSE: UPL), Rex Energy (NASDAQ: REXX), Patterson Companies (NASDAQ: PDCO) and Petroleum Development (NASDAQ: PETD) ratings and price targets.

Forest Oil (FST) was downgraded by Capital One to a “Neutral” rating.

Helix Energy Solutions Group (HLX) was downgraded by Morgan Stanley (NYSE:MS) from an “Equal Weight” rating to an “Underweight” rating.

Ultra Petroleum (UPL) was downgraded by Capital One to a “Neutral” rating.

Rex Energy (REXX) was downgraded by Capital One to a “Neutral” rating.

Patterson Companies (PDCO) was downgraded by Barclays Capital (NYSE:BCS) from an “Equal Weight” rating to an “Underweight” rating.

Petroleum Development (PETD) was downgraded by Brean Murray Carret & Co. from a “Buy” rating to a “Hold” rating. They have a price target of $46.00 on the company.

Forest Oil (FST) (WR) (XCO) (NEWP) (CWTR) Price Targets Changed by Analysts

Price targets on Forest Oil Co. (NYSE: FST), Westar Energy, Inc. (NYSE: WR), EXCO Resources, Inc. (NYSE: XCO), Newport Co. (NASDAQ: NEWP) and Coldwater Creek Inc. (NASDAQ: CWTR) were adjusted by analysts.

Wunderlich cut their price target on Coldwater Creek Inc. (CWTR) to $34.00.

Barclays Capital cut their price target on Forest Oil Co. (FST) from $44.00 to $31.00. They have an “overweight” rating on the company.

Stifel Nicolaus raised their price target on Newport Co. (NEWP) from $25.00 to $27.00. They have a “buy” rating on the company.

Citigroup (NYSE:C) raised their price target on Westar Energy, Inc. (WR) to $29.00.

RBC Capital cut their price target on EXCO Resources, Inc. (XCO) from $21.00 to $16.00. They have a “sector perform” rating on the company.

Forest Oil closed Monday at $22.81, dropping $0.93, or 3.92 percent. Coldwater Creek ended the session at $1.34, falling $0.08, or 5.63 percent. Newport closed at $18.63, down $0.52, or 2.72 percent. Westar closed at $26.81, losing $0.26, or 0.96 percent. EXCO Resources closed at $15.20, declining $0.65, or 4.10 percent.

SunPower (SPWRA) (LDK) (NE) (FST) (MCD) Price Targets Changed

Price targets on SunPower Co. (NASDAQ: SPWRA), LDK Solar (NYSE: LDK), Noble Corp (NYSE: NE), Forest Oil Co. (NYSE: FST) and McDonald’s (NYSE: MCD) were adjusted by analysts.

Bank of America (NYSE:BAC) raised their price target on McDonald’s (MCD) to $96.00. They have a “buy” rating on the company.

RBC Capital cut their price target on Noble Corp (NE) from $50.00 to $44.00. They have an “outperform” rating on the company.

Jefferies (NYSE:JEF) cut their price target on shares of SunPower Co. (SPWRA) to $18.00. They have a “hold” rating on the company.

HSBC (NYSE:HBC) cut their price target on LDK Solar (LDK) from $9.80 to $5.60. They have an “underweight” rating on the company.

RBC Capital cut their price target on Forest Oil Co. (FST) from $45.00 to $37.00. They now have an “outperform” rating on the company.

Goldman Sachs (NYSE:GS) cut their price target on Forest Oil Co. to $32.00.

Forest Oil closed Thursday at $24.24, falling $3.83, or 13.64 percent. McDonald's closed at $86.06, gaining $0.20, or 0.23 percent. LDK Solar closed at $6.88, dropping $0.18, or 2.55 percent. Noble closed at $37.69, down $0.66, or 1.72 percent. SunPower ended the day at $20.06, climbing $0.19, or 0.96 percent.

Price Targets on (BSFT) (EQY) (ETE) (FOSL) (FST) Updated

Price targets on Broadsoft Inc (NASDAQ: BSFT), Equity One, Inc. (NYSE: EQY), Energy Transfer Equity (NYSE: ETE), Fossil (NASDAQ: FOSL) and Forest Oil Co. (NYSE: FST) updated by analysts.

Goldman Sachs (NYSE:GS) cut their price target on Broadsoft Inc (BSFT) from $43.00 to $41.00.

Barclays Capital raised their price target on Equity One, Inc. (EQY) from $16.00 to $18.00. They have an “underweight” rating on the company.

Barclays Capital raised their price target on Energy Transfer Equity (ETE) from $51.00 to $53.00. They have an “overweight” rating on the company.

Brean Murray raised their price target on Fossil (FOSL) from $90.00 to $108.00. They have a “buy” rating on the company.

Barclays Capital cut their price target on Forest Oil Co. (FST) from $50.00 to $44.00. They have an “overweight” rating on the company.

Possible Catalysts for Bill Barrett (NYSE:BBG), Chesapeake (NYSE:CHK), Comstock (NYSE:CRK), Crimson (Nasdaq:CXPO), Forest Oil (NYSE:FST), Stone (NYSE:

Barclays talked mid-cap oil and gas companies, and offered up what they view as probable catalysts for Bill Barrett (NYSE:BBG), Chesapeake (NYSE:CHK), Comstock (NYSE:CRK), Crimson (Nasdaq:CXPO), Forest Oil (NYSE:FST), Stone (NYSE:SGY), Venoco (NYSE:VQ), Whiting (NYSE:WLL) and Cimarex (NYSE:XEC).

They said, "Most companies in our universe have announced 2011 capital budgets with the predominant theme being the continued transition from gas to liquids development. We anticipate the shift will enable companies to support steady, higher-margin growth. We are revising our estimates to reflect housekeeping items and introducing new 2012 forecasts."

"Estimate Revisions: We are revising our 2010 and 2011 earnings and cash flow estimates to reflect minor housekeeping items and establishing 2012 estimates. Our 2012 estimates are based on a NYMEX price deck of $90/bbl for oil and $4.50/MMBtu for natural gas. Our 2011 NYMEX price is unchanged at $85/bbl and�$4.00/MMBtu."

"Potential Catalysts: Bill Barrett (BBG) - FY11 budget and production guidance; Chesapeake Energy (CHK) - asset sales; Comstock Resources (CRK) - initial Eagle Ford results; Crimson Exploration (CXPO) - Haynesville/Eagle Fords results; Forest Oil (FST) - FY11 budget and production guidance; PXP - deepwater divestiture; Stone Energy (SGY) - Marcellus Shale results and Rockies exploration; Venoco (VQ) - Monterey Shale exploration; Whiting Petroleum (WLL) - Lewis and Clark results; Cimarex Energy (XEC) - FY11 budget and production guidance."

Forest Oil (NYSE:FST) Spinning Off Lone Pine Resources

Forest Oil (NYSE:FST) said the spinning off of Lone Pine Resources should empower the company to increase their valuation to levels comparable to their Canadian peers.

Canaccord commented on the spinoff, saying , "Forest announced on Monday that its wholly-owned subsidiary Lone Pine Resources has filed a Form S-1 registration statement the U.S. Securities and Exchange Commission (SEC) relating to the proposed initial public offering of shares of common stock of Lone Pine. Lone Pine will be the new parent of Canadian Forest Oil, which owns all of Forest’s Canadian assets. Lone Pine plans to sell up to 19.9% of its common stock in an IPO, which it expects to complete in the first half of 2011. The IPO is estimated to be worth $375 million, putting the valuation of Canadian operations at about $1.9 billion, or about $1 billion higher than the estimate of at least one analyst. Lone Pine intends to use the net proceeds from the offering to repay intercompany debt amounts owed to Forest, and the remainder, if any, for general corporate purposes. Following the offering, Forest intends to distribute, or spin-off, its remaining ownership in Lone Pine to Forest’s shareholders. The spin-off is expected to occur approximately four months after the IPO; however, Forest will retain the right to decide whether to commence the spin-off at its discretion. Forest believes that the separation will enhance Lone Pine’s ability to achieve a valuation comparable to those of stand-alone Canadian peer companies, by allowing Lone Pine to focus its exploration and development efforts at capital levels consistent with its own business strategy. In that regard, Lone Pine intends to focus on growing its estimated proved reserves and production through its repeatable vertical and horizontal development inventory and shale positions with initial investment of capital in excess of cash flow. Lone Pine said that it intends to apply to list its shares on the NYSE under the symbol LPR (NYSE:LPR)."

Forest Oil was trading at $36.40, down $0.08, or 0.22 percent, as of 12:52 PM EST.