Cramer Rosenthal Mcglynn LLC raised its holdings in shares of Forum Energy Technologies, Inc. (NYSE:FET) by 24.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 928,550 shares of the oil and gas company’s stock after purchasing an additional 184,205 shares during the period. Cramer Rosenthal Mcglynn LLC owned about 0.97% of Forum Energy Technologies worth $14,485,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in FET. Ameritas Investment Partners Inc. bought a new stake in Forum Energy Technologies during the first quarter valued at $107,000. Cutler Group LP increased its stake in 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 valued at $109,000 after purchasing an additional 1,300 shares during the last quarter. D.A. Davidson & CO. bought a new stake in Forum Energy Technologies during the second quarter valued at $116,000. Independent Portfolio Consultants Inc. increased its stake in Forum Energy Technologies by 1,150.8% during the second quarter. Independent Portfolio Consultants Inc. now owns 7,505 shares of the oil and gas company’s stock valued at $117,000 after purchasing an additional 6,905 shares during the last quarter. Finally, QS Investors LLC increased its stake in Forum Energy Technologies by 205.7% during the second 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.

FET has been the subject of several recent research reports. BidaskClub lowered shares of Forum Energy Technologies from a “sell” rating to a “strong sell” rating in a research note on Friday, August 4th. Credit Suisse Group lowered shares of Forum Energy Technologies from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $23.00 to $12.00 in a research note on Thursday, August 24th. Morgan Stanley reiterated an “equal weight” rating and set a $19.00 target price (down previously from $25.00) on shares of Forum Energy Technologies in a research note on Wednesday, June 21st. Jefferies Group LLC set a $17.00 target price on shares of Forum Energy Technologies and gave the company a “hold” rating in a research note on Thursday, July 6th. Finally, Zacks Investment Research upgraded shares of Forum Energy Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. Forum Energy Technologies currently has a consensus rating of “Hold” and an average target price of $19.67.

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Forum Energy Technologies, Inc. (NYSE FET) traded up 2.435% during midday trading on Thursday, reaching $15.775. 45,429 shares of the company traded hands. Forum Energy Technologies, Inc. has a 12-month low of $10.05 and a 12-month high of $26.25. The company’s market cap is $1.52 billion. The company has a 50-day moving average price of $12.91 and a 200-day moving average price of $15.60.

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 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 company had revenue of $201.10 million during the quarter, compared to analyst estimates of $194.16 million. On average, analysts predict that Forum Energy Technologies, Inc. will post ($0.30) earnings per share for the current fiscal year.

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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