Bank of New York Mellon Corp lifted its holdings in Forum Energy Technologies, Inc. (NYSE:FET) by 10.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 462,834 shares of the oil and gas company’s stock after purchasing an additional 44,146 shares during the quarter. Bank of New York Mellon Corp owned about 0.48% of Forum Energy Technologies worth $7,221,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FET. Swiss National Bank grew its position in shares of Forum Energy Technologies by 2.7% in the 1st quarter. Swiss National Bank now owns 97,724 shares of the oil and gas company’s stock valued at $2,023,000 after purchasing an additional 2,600 shares during the period. Ameriprise Financial Inc. acquired a new position in shares of Forum Energy Technologies in the 1st quarter valued at approximately $2,546,000. Virginia Retirement Systems ET AL grew its position in shares of Forum Energy Technologies by 8.7% in the 1st quarter. Virginia Retirement Systems ET AL now owns 10,979 shares of the oil and gas company’s stock valued at $227,000 after purchasing an additional 879 shares during the period. Ameritas Investment Partners Inc. acquired a new position in shares of Forum Energy Technologies in the 1st quarter valued at approximately $107,000. Finally, Envestnet Asset Management Inc. grew its position in shares of Forum Energy Technologies by 12.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 12,637 shares of the oil and gas company’s stock valued at $263,000 after purchasing an additional 1,403 shares during the period.

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Several equities analysts recently issued reports on the company. BidaskClub upgraded Forum Energy Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Jefferies Group LLC set a $19.00 price objective on Forum Energy Technologies and gave the company a “hold” rating in a research report on Tuesday, June 6th. Societe Generale assumed coverage on Forum Energy Technologies in a research report on Wednesday, June 7th. They issued a “buy” rating and a $20.00 price objective for the company. Morgan Stanley reiterated an “equal weight” rating and issued a $19.00 price objective (down from $25.00) on shares of Forum Energy Technologies in a research report on Wednesday, June 21st. Finally, Zacks Investment Research lowered Forum Energy Technologies from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. Forum Energy Technologies has an average rating of “Hold” and an average price target of $19.81.

Shares of Forum Energy Technologies, Inc. (FET) opened at 15.90 on Friday. Forum Energy Technologies, Inc. has a 52 week low of $10.05 and a 52 week high of $26.25. The stock’s 50 day moving average price is $12.07 and its 200-day moving average price is $15.96. The company’s market cap is $1.53 billion.

Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.10) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.01. Forum Energy Technologies had a negative return on equity of 4.55% and a negative net margin of 18.89%. The firm had revenue of $201.10 million during the quarter, compared to analysts’ expectations of $194.16 million. Analysts expect that Forum Energy Technologies, Inc. will post ($0.30) EPS for the current year.

Forum Energy Technologies Company 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.

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

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