Stephens Investment Management Group LLC lessened its stake in shares of Forum Energy Technologies, Inc. (NYSE:FET) by 29.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,183,681 shares of the oil and gas company’s stock after selling 494,867 shares during the quarter. Stephens Investment Management Group LLC owned 1.23% of Forum Energy Technologies worth $18,465,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Moody Aldrich Partners LLC lifted its stake in shares of Forum Energy Technologies by 31.6% during the second quarter. Moody Aldrich Partners LLC now owns 30,665 shares of the oil and gas company’s stock worth $478,000 after purchasing an additional 7,370 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Forum Energy Technologies by 3.9% during the first quarter. Vanguard Group Inc. now owns 5,469,195 shares of the oil and gas company’s stock worth $113,213,000 after purchasing an additional 205,452 shares in the last quarter. Champlain Investment Partners LLC lifted its stake in shares of Forum Energy Technologies by 2.2% during the first quarter. Champlain Investment Partners LLC now owns 2,361,150 shares of the oil and gas company’s stock worth $48,876,000 after purchasing an additional 50,355 shares in the last quarter. Cutler Group LP lifted its stake in shares of Forum Energy Technologies by 22.8% during the second quarter. Cutler Group LP now owns 7,000 shares of the oil and gas company’s stock worth $109,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Texan Capital Management lifted its stake in shares of Forum Energy Technologies by 8.3% during the second quarter. Texan Capital Management now owns 16,900 shares of the oil and gas company’s stock worth $264,000 after purchasing an additional 1,300 shares in the last quarter.

Shares of Forum Energy Technologies, Inc. (FET) traded up 2.26% during mid-day trading on Wednesday, reaching $13.55. The company’s stock had a trading volume of 42,888 shares. Forum Energy Technologies, Inc. has a 12 month low of $10.05 and a 12 month high of $26.25. The company has a 50 day moving average price of $12.18 and a 200 day moving average price of $16.29. The stock’s market capitalization is $1.30 billion.

Forum Energy Technologies (NYSE:FET) last released its earnings results on Thursday, July 27th. The oil and gas company reported ($0.10) earnings per share 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 business had revenue of $201.10 million during the quarter, compared to analysts’ expectations of $194.16 million. On average, equities research analysts anticipate that Forum Energy Technologies, Inc. will post ($0.30) earnings per share for the current fiscal year.

A number of brokerages have commented on FET. BidaskClub upgraded Forum Energy Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Cowen and Company reduced their price objective on Forum Energy Technologies from $15.00 to $11.00 and set a “market perform” rating on the stock in a research note on Tuesday, August 1st. Societe Generale began coverage on Forum Energy Technologies in a research note on Wednesday, June 7th. They set a “buy” rating and a $20.00 price objective on the stock. Barclays PLC cut 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 note on Wednesday, July 12th. Finally, Capital One Financial Corporation cut Forum Energy Technologies from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company’s stock. Forum Energy Technologies currently has an average rating of “Hold” and an average price target of $19.81.

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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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