Vanguard Group Inc. boosted its position in shares of Forum Energy Technologies, Inc. (NYSE:FET) by 3.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,469,195 shares of the oil and gas company’s stock after buying an additional 205,452 shares during the period. Vanguard Group Inc. owned approximately 5.70% of Forum Energy Technologies worth $113,213,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Guggenheim Capital LLC increased its position in shares of Forum Energy Technologies by 136.4% in the fourth quarter. Guggenheim Capital LLC now owns 70,812 shares of the oil and gas company’s stock worth $1,558,000 after buying an additional 40,853 shares during the period. AQR Capital Management LLC increased its position in shares of Forum Energy Technologies by 167.4% in the fourth quarter. AQR Capital Management LLC now owns 40,333 shares of the oil and gas company’s stock worth $887,000 after buying an additional 25,248 shares during the period. Norges Bank acquired a new position in Forum Energy Technologies during the fourth quarter valued at $19,409,000. Teachers Advisors LLC increased its position in Forum Energy Technologies by 1.9% in the fourth quarter. Teachers Advisors LLC now owns 98,747 shares of the oil and gas company’s stock valued at $2,172,000 after buying an additional 1,800 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in Forum Energy Technologies during the first quarter valued at $306,000.
Forum Energy Technologies, Inc. (NYSE:FET) traded down 3.35% during midday trading on Monday, hitting $13.00. 92,637 shares of the stock traded hands. The company’s 50-day moving average is $15.33 and its 200 day moving average is $18.39. The firm’s market cap is $1.25 billion. Forum Energy Technologies, Inc. has a 12-month low of $12.75 and a 12-month high of $26.25.
Forum Energy Technologies (NYSE:FET) last issued its earnings results on Thursday, July 27th. The oil and gas company reported ($0.10) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.01. Forum Energy Technologies had a negative return on equity of 4.55% and a negative net margin of 18.89%. The firm had revenue of $201.10 million for the quarter, compared to analyst estimates of $194.16 million. On average, analysts anticipate that Forum Energy Technologies, Inc. will post ($0.31) EPS for the current fiscal year.
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FET has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Tuesday, April 18th. Societe Generale assumed coverage on shares of Forum Energy Technologies in a research note on Wednesday, June 7th. They set a “buy” rating and a $20.00 target price for the company. Deutsche Bank AG reissued a “buy” rating and issued a $25.00 price objective (down from $26.00) on shares of Forum Energy Technologies in a research note on Tuesday, May 30th. TheStreet cut shares of Forum Energy Technologies from a “c-” rating to a “d+” rating in a research note on Thursday, May 25th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $19.00 price target (down from $25.00) on shares of Forum Energy Technologies in a research note on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $20.50.
Forum Energy Technologies Company Profile
Forum Energy Technologies, Inc is an oilfield products company. The Company designs, manufactures and distributes products, and engages in aftermarket services, parts supply and related services. The Company operates through three segments: Drilling & Subsea, Completions, and Production & Infrastructure.
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