Forestar Group Inc. (NYSE:FOR)’s share price fell 2.8% during mid-day trading on Friday . The company traded as low as $12.34 and last traded at $12.36, with a volume of 59,832 shares. The stock had previously closed at $12.72.

Separately, Zacks Investment Research downgraded Forestar Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 3rd.

The stock’s market capitalization is $424.99 million. The stock has a 50-day moving average price of $12.20 and a 200-day moving average price of $11.95.

Forestar Group (NYSE:FOR) last announced its earnings results on Friday, July 29th. The oil and gas exploration company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.13. The company earned $46.40 million during the quarter, compared to analysts’ expectations of $44.80 million. During the same quarter last year, the firm posted $0.06 EPS. Forestar Group’s revenue for the quarter was up 6.4% compared to the same quarter last year. Analysts forecast that Forestar Group Inc. will post $0.56 EPS for the current year.

An institutional investor recently raised its position in Forestar Group stock. Schwab Charles Investment Management Inc. increased its position in Forestar Group Inc. (NYSE:FOR) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 107,351 shares of the oil and gas exploration company’s stock after buying an additional 3,370 shares during the period. Schwab Charles Investment Management Inc. owned about 0.31% of Forestar Group worth $1,175,000 as of its most recent filing with the SEC.

Forestar Group Inc is a residential and mixed-use real estate development company. The Company operates through three segments: Real Estate, Oil and Gas, and Other Natural Resources. Its Real Estate segment secures entitlements and develops infrastructure on its lands for single-family residential and mixed-use communities, and manages its undeveloped land, commercial and income producing properties, mainly a hotel and its multifamily properties.