Forum Energy Technologies, Inc. (NYSE:FET) had its target price increased by stock analysts at Citigroup Inc. from $14.00 to $16.00 in a report released on Thursday. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. Citigroup Inc.’s price objective would suggest a potential upside of 6.67% from the company’s previous close.

FET has been the topic of a number of other reports. BidaskClub raised shares of Forum Energy Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Cowen and Company cut their target price on shares of 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 started coverage on shares of Forum Energy Technologies in a research note on Wednesday, June 7th. They set a “buy” rating and a $20.00 target price on the stock. Barclays PLC lowered shares of Forum Energy Technologies from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $24.00 to $16.00 in a research note on Wednesday, July 12th. Finally, Capital One Financial Corporation lowered shares of Forum Energy Technologies from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 28th. 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 company’s stock. The stock presently has an average rating of “Hold” and an average price target of $19.27.

Forum Energy Technologies (NYSE FET) opened at 15.00 on Thursday. Forum Energy Technologies has a 12 month low of $10.05 and a 12 month high of $26.25. The company’s market capitalization is $1.44 billion. The stock’s 50 day moving average is $13.17 and its 200-day moving average is $15.57.

Forum Energy Technologies (NYSE:FET) last posted 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 net margin of 18.89% and a negative return on equity of 4.55%. The company had revenue of $201.10 million for the quarter, compared to analyst estimates of $194.16 million. On average, analysts expect that Forum Energy Technologies will post ($0.30) EPS for the current year.

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Several hedge funds have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Forum Energy Technologies in the second quarter valued at about $232,000. Sterling Capital Management LLC raised its holdings in shares of Forum Energy Technologies by 35.0% in the second quarter. Sterling Capital Management LLC now owns 143,111 shares of the oil and gas company’s stock valued at $2,233,000 after purchasing an additional 37,111 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Forum Energy Technologies by 3.4% in the second quarter. California State Teachers Retirement System now owns 122,266 shares of the oil and gas company’s stock valued at $1,907,000 after purchasing an additional 4,034 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Forum Energy Technologies by 18.0% in the second quarter. The Manufacturers Life Insurance Company now owns 55,346 shares of the oil and gas company’s stock valued at $863,000 after purchasing an additional 8,454 shares during the last quarter. Finally, BlueCrest Capital Management Ltd raised its holdings in shares of Forum Energy Technologies by 194.4% in the second quarter. BlueCrest Capital Management Ltd now owns 132,651 shares of the oil and gas company’s stock valued at $2,069,000 after purchasing an additional 87,589 shares during the last quarter.

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.

Analyst Recommendations for Forum Energy Technologies (NYSE:FET)

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