Sterling Capital Management LLC increased its stake in shares of Forum Energy Technologies Inc (NYSE:FET) by 15.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 165,721 shares of the oil and gas company’s stock after purchasing an additional 22,610 shares during the quarter. Sterling Capital Management LLC owned 0.15% of Forum Energy Technologies worth $2,635,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FET. D.A. Davidson & CO. bought a new position in shares of Forum Energy Technologies during the 2nd quarter valued at approximately $116,000. QS Investors LLC increased its position in shares of Forum Energy Technologies by 205.7% during the 2nd quarter. QS Investors LLC now owns 8,323 shares of the oil and gas company’s stock valued at $130,000 after purchasing an additional 5,600 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Forum Energy Technologies by 280.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,368 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 6,906 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its position in shares of Forum Energy Technologies by 86.4% during the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 9,556 shares of the oil and gas company’s stock valued at $152,000 after purchasing an additional 4,429 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Forum Energy Technologies during the 3rd quarter valued at approximately $185,000. 98.69% of the stock is currently owned by hedge funds and other institutional investors.

Forum Energy Technologies Inc (FET) opened at $13.20 on Friday. Forum Energy Technologies Inc has a 12-month low of $10.05 and a 12-month high of $26.25. The company has a current ratio of 3.74, a quick ratio of 1.76 and a debt-to-equity ratio of 0.34.

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

FET has been the topic of several research analyst reports. Credit Suisse Group downgraded Forum Energy Technologies from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $23.00 to $12.00 in a research report on Thursday, August 24th. Citigroup upped their price objective on Forum Energy Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, October 5th. Jefferies Group set a $17.00 price objective on Forum Energy Technologies and gave the company a “hold” rating in a research report on Thursday, October 5th. Cowen set a $11.00 price objective on Forum Energy Technologies and gave the company a “hold” rating in a research report on Friday, October 6th. Finally, Deutsche Bank initiated coverage on Forum Energy Technologies in a research report on Tuesday, October 10th. They issued a “hold” rating and a $17.00 price objective on the stock. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $17.79.

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Forum Energy Technologies 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.

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

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