NGAM Advisors L.P. cut its position in Forum Energy Technologies, Inc. (NYSE:FET) by 62.0% during the second quarter, Holdings Channel reports. The fund owned 129,580 shares of the oil and gas company’s stock after selling 211,838 shares during the period. NGAM Advisors L.P.’s holdings in Forum Energy Technologies were worth $2,022,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Virginia Retirement Systems ET AL boosted its position in Forum Energy Technologies by 8.7% in the first quarter. Virginia Retirement Systems ET AL now owns 10,979 shares of the oil and gas company’s stock worth $227,000 after buying an additional 879 shares during the last quarter. OLD National Bancorp IN boosted its position in Forum Energy Technologies by 7.9% in the first quarter. OLD National Bancorp IN now owns 12,050 shares of the oil and gas company’s stock worth $249,000 after buying an additional 885 shares during the last quarter. US Bancorp DE boosted its position in Forum Energy Technologies by 8.0% in the second quarter. US Bancorp DE now owns 13,241 shares of the oil and gas company’s stock worth $206,000 after buying an additional 986 shares during the last quarter. Adams Diversified Equity Fund Inc. boosted its position in Forum Energy Technologies by 2.9% in the first quarter. Adams Diversified Equity Fund Inc. now owns 46,600 shares of the oil and gas company’s stock worth $965,000 after buying an additional 1,300 shares during the last quarter. Finally, Cutler Group LP boosted its position in Forum Energy Technologies by 22.8% in the second quarter. Cutler Group LP now owns 7,000 shares of the oil and gas company’s stock worth $109,000 after buying an additional 1,300 shares during the last quarter.

Shares of Forum Energy Technologies, Inc. (NYSE:FET) opened at 12.00 on Friday. The company’s market cap is $1.15 billion. Forum Energy Technologies, Inc. has a 1-year low of $11.90 and a 1-year high of $26.25. The stock’s 50 day moving average is $14.47 and its 200 day moving average is $17.91.

Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.10) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.01. Forum Energy Technologies had a negative net margin of 18.89% and a negative return on equity of 4.55%. The company had revenue of $201.10 million during the quarter, compared to analysts’ expectations of $194.16 million. On average, analysts predict that Forum Energy Technologies, Inc. will post ($0.31) earnings per share for the current year.

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A number of research firms have recently issued reports on FET. Cowen and Company reiterated a “hold” rating and issued a $15.00 price objective on shares of Forum Energy Technologies in a report on Tuesday, July 11th. Barclays PLC cut Forum Energy Technologies from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $24.00 to $16.00 in a report on Wednesday, July 12th. Zacks Investment Research upgraded Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Tuesday, April 18th. Guggenheim cut Forum Energy Technologies from a “buy” rating to a “neutral” rating in a report on Tuesday, June 27th. Finally, BidaskClub raised Forum Energy Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. Forum Energy Technologies currently has an average rating of “Hold” and an average price target of $20.50.

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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