Sei Investments Co. cut its stake in Forum Energy Technologies, Inc. (NYSE:FET) by 30.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 90,501 shares of the oil and gas company’s stock after selling 39,218 shares during the period. Sei Investments Co. owned approximately 0.09% of Forum Energy Technologies worth $1,412,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Forum Energy Technologies by 3.9% in the first quarter. Vanguard Group Inc. now owns 5,469,195 shares of the oil and gas company’s stock valued at $113,213,000 after buying an additional 205,452 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Forum Energy Technologies by 7.9% in the first quarter. Dimensional Fund Advisors LP now owns 4,978,173 shares of the oil and gas company’s stock valued at $103,046,000 after buying an additional 364,686 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Forum Energy Technologies by 28,940.8% in the first quarter. BlackRock Inc. now owns 4,365,706 shares of the oil and gas company’s stock valued at $90,370,000 after buying an additional 4,350,673 shares during the last quarter. Jennison Associates LLC purchased a new stake in shares of Forum Energy Technologies during the first quarter valued at $52,681,000. Finally, Aberdeen Asset Management PLC UK boosted its stake in shares of Forum Energy Technologies by 17.0% in the first quarter. Aberdeen Asset Management PLC UK now owns 2,449,649 shares of the oil and gas company’s stock valued at $50,708,000 after buying an additional 356,807 shares during the last quarter.

Forum Energy Technologies, Inc. (NYSE:FET) opened at 10.55 on Tuesday. Forum Energy Technologies, Inc. has a one year low of $10.05 and a one year high of $26.25. The company’s market capitalization is $1.01 billion. The stock’s 50 day moving average price is $13.23 and its 200-day moving average price is $17.08.

Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, topping the 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%. Equities analysts forecast that Forum Energy Technologies, Inc. will post ($0.31) EPS for the current year.

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Several equities research analysts recently weighed in on FET shares. TheStreet cut Forum Energy Technologies from a “c-” rating to a “d+” rating in a research note on Thursday, May 25th. Zacks Investment Research downgraded Forum Energy Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, May 2nd. Deutsche Bank AG reissued a “buy” rating and issued a $25.00 target price (down from $26.00) on shares of Forum Energy Technologies in a report on Tuesday, May 30th. BidaskClub downgraded Forum Energy Technologies from a “sell” rating to a “strong sell” rating in a report on Friday, August 4th. Finally, Credit Suisse Group downgraded Forum Energy Technologies from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $23.00 to $12.00 in a report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $19.81.

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.

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

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