Rhumbline Advisers lifted its stake in Forum Energy Technologies, Inc. (NYSE:FET) by 16.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 85,909 shares of the oil and gas company’s stock after acquiring an additional 12,377 shares during the period. Rhumbline Advisers owned 0.09% of Forum Energy Technologies worth $1,340,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of FET. Vanguard Group Inc. increased its position in Forum Energy Technologies by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 5,469,195 shares of the oil and gas company’s stock worth $113,213,000 after buying an additional 205,452 shares during the period. Dimensional Fund Advisors LP increased its position in Forum Energy Technologies by 7.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,978,173 shares of the oil and gas company’s stock worth $103,046,000 after buying an additional 364,686 shares during the period. BlackRock Inc. increased its position in Forum Energy Technologies by 28,940.8% in the 1st quarter. BlackRock Inc. now owns 4,365,706 shares of the oil and gas company’s stock worth $90,370,000 after buying an additional 4,350,673 shares during the period. Hillman Co. increased its position in Forum Energy Technologies by 1.5% in the 2nd quarter. Hillman Co. now owns 2,361,295 shares of the oil and gas company’s stock worth $36,836,000 after buying an additional 35,485 shares during the period. Finally, Champlain Investment Partners LLC increased its position in Forum Energy Technologies by 2.2% in the 1st quarter. Champlain Investment Partners LLC now owns 2,361,150 shares of the oil and gas company’s stock worth $48,876,000 after buying an additional 50,355 shares during the period.

COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by Watch List News and is the sole property of of Watch List News. If you are reading this piece of content on another website, it was copied illegally and reposted in violation of US and international trademark and copyright legislation. The original version of this piece of content can be read at https://www.watchlistnews.com/forum-energy-technologies-inc-fet-position-lifted-by-rhumbline-advisers/1579298.html.

Several brokerages have commented on FET. Barclays PLC downgraded Forum Energy Technologies from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $24.00 to $16.00 in a research report on Wednesday, July 12th. Cowen and Company reaffirmed a “hold” rating and issued a $15.00 price target on shares of Forum Energy Technologies in a research report on Tuesday, July 11th. BidaskClub raised Forum Energy Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Guggenheim downgraded Forum Energy Technologies from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 27th. Finally, Zacks Investment Research raised Forum Energy Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $19.81.

Shares of Forum Energy Technologies, Inc. (FET) opened at 14.40 on Friday. Forum Energy Technologies, Inc. has a 52-week low of $10.05 and a 52-week high of $26.25. The company’s market capitalization is $1.38 billion. The stock’s 50 day moving average price is $12.07 and its 200-day moving average price is $15.96.

Forum Energy Technologies (NYSE:FET) last announced its earnings results on Thursday, July 27th. The oil and gas company reported ($0.10) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.01. The company had revenue of $201.10 million for the quarter, compared to analyst estimates of $194.16 million. Forum Energy Technologies had a negative return on equity of 4.55% and a negative net margin of 18.89%. On average, analysts expect that Forum Energy Technologies, Inc. will post ($0.30) 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.

Want to see what other hedge funds are holding FET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Forum Energy Technologies, Inc. (NYSE:FET).

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

Receive News & Ratings for Forum Energy Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forum Energy Technologies Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.