California Public Employees Retirement System lowered its position in Forum Energy Technologies, Inc. (NYSE:FET) by 77.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 26,000 shares of the oil and gas company’s stock after selling 91,400 shares during the period. California Public Employees Retirement System’s holdings in Forum Energy Technologies were worth $538,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of FET. Ameritas Investment Partners Inc. bought a new position in Forum Energy Technologies during the first quarter worth $107,000. Bronfman E.L. Rothschild L.P. boosted its position in Forum Energy Technologies by 147.8% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 7,832 shares of the oil and gas company’s stock worth $162,000 after buying an additional 4,672 shares in the last quarter. 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 in 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 in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Forum Energy Technologies by 12.5% in the first quarter. Envestnet Asset Management Inc. now owns 12,637 shares of the oil and gas company’s stock worth $263,000 after buying an additional 1,403 shares in the last quarter.

Forum Energy Technologies, Inc. (NYSE FET) traded up 0.48% during midday trading on Tuesday, reaching $10.40. 212,334 shares of the company traded hands. The firm’s market capitalization is $1.00 billion. Forum Energy Technologies, Inc. has a 12 month low of $10.05 and a 12 month high of $26.25. The company’s 50-day moving average price is $13.73 and its 200 day moving average price is $17.36.

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, beating the 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 firm had revenue of $201.10 million during the quarter, compared to the consensus estimate of $194.16 million. On average, equities analysts anticipate 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 weighed in on FET. BidaskClub upgraded shares of Forum Energy Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Jefferies Group LLC set a $22.00 price objective on shares of Forum Energy Technologies and gave the stock a “hold” rating in a research report on Thursday, April 27th. Cowen and Company reduced their price objective on shares of Forum Energy Technologies from $15.00 to $11.00 and set a “market perform” rating for the company in a research report on Tuesday, August 1st. Societe Generale began coverage on shares of Forum Energy Technologies in a research report on Wednesday, June 7th. They set a “buy” rating and a $20.00 price objective for the company. Finally, Barclays PLC cut shares of Forum Energy Technologies from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $24.00 to $16.00 in a research report on Wednesday, July 12th. One investment 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 has a consensus rating of “Hold” and a consensus target price 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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