William Blair Investment Management LLC lessened its position in Forum Energy Technologies Inc (NYSE:FET) by 6.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,138,502 shares of the oil and gas company’s stock after selling 75,755 shares during the quarter. William Blair Investment Management LLC’s holdings in Forum Energy Technologies were worth $11,783,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Quantbot Technologies LP purchased a new stake in shares of Forum Energy Technologies in the 3rd quarter valued at $241,000. Dynamic Technology Lab Private Ltd acquired a new position in Forum Energy Technologies during the 2nd quarter worth $323,000. SG Americas Securities LLC acquired a new position in Forum Energy Technologies during the 3rd quarter worth $280,000. Bank of Montreal Can grew its stake in Forum Energy Technologies by 19.3% during the 3rd quarter. Bank of Montreal Can now owns 39,393 shares of the oil and gas company’s stock worth $408,000 after purchasing an additional 6,383 shares in the last quarter. Finally, First Trust Advisors LP acquired a new position in Forum Energy Technologies during the 3rd quarter worth $492,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.

NYSE:FET opened at $6.19 on Thursday. The stock has a market cap of $675.74 million, a PE ratio of -16.29 and a beta of 1.94. Forum Energy Technologies Inc has a 1 year low of $6.13 and a 1 year high of $17.95. The company has a quick ratio of 1.25, a current ratio of 3.47 and a debt-to-equity ratio of 0.33.

Forum Energy Technologies (NYSE:FET) last released its quarterly earnings data on Monday, October 29th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.01. Forum Energy Technologies had a negative return on equity of 0.74% and a net margin of 5.87%. The business had revenue of $267.00 million during the quarter, compared to analysts’ expectations of $283.19 million. During the same period in the prior year, the firm posted ($0.10) EPS. The business’s quarterly revenue was up 34.4% compared to the same quarter last year. As a group, research analysts forecast that Forum Energy Technologies Inc will post -0.08 earnings per share for the current year.

Several research firms recently commented on FET. Citigroup lowered their target price on Forum Energy Technologies from $10.00 to $8.00 and set a “hold” rating for the company in a research note on Monday, November 19th. JPMorgan Chase & Co. boosted their target price on Forum Energy Technologies from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Monday, September 17th. Johnson Rice cut Forum Energy Technologies from a “buy” rating to an “accumulate” rating and set a $15.00 target price for the company. in a research note on Monday, September 17th. ValuEngine raised Forum Energy Technologies from a “sell” rating to a “hold” rating in a research note on Friday, August 17th. Finally, Piper Jaffray Companies raised Forum Energy Technologies from a “neutral” rating to an “overweight” rating and set a $13.00 target price for the company in a research note on Tuesday, October 2nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $12.18.

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Forum Energy Technologies Company Profile

Forum Energy Technologies, Inc designs, manufactures, and distributes products to the oil and natural gas industry in the United States and internationally. The company operates in three segments: Drilling & Subsea, Completions, and Production & Infrastructure. The Drilling & Subsea segment designs and manufactures products, and provides related services to the drilling, energy subsea construction and service markets, and other markets, such as alternative energy, defense, and communications.

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

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