State Street Corp raised its position in Forum Energy Technologies, Inc. (NYSE:FET) by 10.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,770,754 shares of the oil and gas company’s stock after acquiring an additional 172,953 shares during the quarter. State Street Corp owned approximately 1.84% of Forum Energy Technologies worth $27,626,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Cramer Rosenthal Mcglynn LLC lifted its stake in Forum Energy Technologies by 24.7% in the second quarter. Cramer Rosenthal Mcglynn LLC now owns 928,550 shares of the oil and gas company’s stock valued at $14,485,000 after acquiring an additional 184,205 shares during the last quarter. Royal Bank of Canada lifted its stake in Forum Energy Technologies by 1.1% in the second quarter. Royal Bank of Canada now owns 938,757 shares of the oil and gas company’s stock valued at $14,645,000 after acquiring an additional 9,980 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Forum Energy Technologies by 69.7% in the second quarter. Goldman Sachs Group Inc. now owns 186,810 shares of the oil and gas company’s stock valued at $2,915,000 after acquiring an additional 76,721 shares during the last quarter. QS Investors LLC lifted its stake in Forum Energy Technologies by 205.7% in the second quarter. QS Investors LLC now owns 8,323 shares of the oil and gas company’s stock valued at $130,000 after acquiring an additional 5,600 shares during the last quarter. Finally, Voya Investment Management LLC lifted its stake in Forum Energy Technologies by 54.6% in the second quarter. Voya Investment Management LLC now owns 1,081,632 shares of the oil and gas company’s stock valued at $16,873,000 after acquiring an additional 382,159 shares during the last quarter. Hedge funds and other institutional investors own 98.58% of the company’s stock.

A number of analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Forum Energy Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Cowen and Company set a $11.00 target price on shares of Forum Energy Technologies and gave the stock a “hold” rating in a research note on Friday, October 6th. Capital One Financial Corporation cut shares of Forum Energy Technologies from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 28th. Citigroup Inc. raised their target price on shares of Forum Energy Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, October 5th. Finally, BidaskClub cut shares of Forum Energy Technologies from a “sell” rating to a “strong sell” rating in a research note on Friday, August 4th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $18.20.

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Forum Energy Technologies, Inc. (NYSE:FET) opened at $14.25 on Monday. Forum Energy Technologies, Inc. has a 1 year low of $10.05 and a 1 year high of $26.25. The company has a quick ratio of 1.76, a current ratio of 3.74 and a debt-to-equity ratio of 0.34.

Forum Energy Technologies (NYSE:FET) last released its quarterly earnings results on Tuesday, October 31st. The oil and gas company reported ($0.10) EPS for the quarter, hitting analysts’ consensus estimates of ($0.10). Forum Energy Technologies had a negative net margin of 16.85% and a negative return on equity of 3.97%. The business had revenue of $198.70 million for the quarter, compared to analyst estimates of $200.96 million. During the same period last year, the firm earned ($0.19) earnings per share. Forum Energy Technologies’s revenue for the quarter was up 43.7% compared to the same quarter last year. analysts forecast that Forum Energy Technologies, Inc. will post -0.36 earnings per share for the current year.

About Forum Energy Technologies

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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Institutional Ownership by Quarter for Forum Energy Technologies (NYSE:FET)

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