Fmr LLC cut its holdings in Forum Energy Technologies, Inc. (NYSE:FET) by 58.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 90,000 shares of the oil and gas company’s stock after selling 127,366 shares during the period. Fmr LLC owned approximately 0.09% of Forum Energy Technologies worth $1,404,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Forum Energy Technologies by 3.8% in the second quarter. Vanguard Group Inc. now owns 5,678,046 shares of the oil and gas company’s stock valued at $88,577,000 after acquiring an additional 208,851 shares in the last quarter. Northern Trust Corp grew its stake in shares of Forum Energy Technologies by 7.8% in the second quarter. Northern Trust Corp now owns 1,318,240 shares of the oil and gas company’s stock valued at $20,565,000 after acquiring an additional 95,683 shares in the last quarter. D.A. Davidson & CO. acquired a new position in shares of Forum Energy Technologies in the second quarter valued at about $116,000. Citigroup Inc. grew its stake in shares of Forum Energy Technologies by 2,514.7% in the second quarter. Citigroup Inc. now owns 28,422 shares of the oil and gas company’s stock valued at $444,000 after acquiring an additional 27,335 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Forum Energy Technologies by 4.8% in the second quarter. Van ECK Associates Corp now owns 1,276,300 shares of the oil and gas company’s stock valued at $19,910,000 after acquiring an additional 58,900 shares in the last quarter. Institutional investors and hedge funds own 97.89% of the company’s stock.

Shares of Forum Energy Technologies, Inc. (FET) opened at $14.20 on Thursday. Forum Energy Technologies, Inc. has a one year low of $10.05 and a one year high of $26.25. The company has a current ratio of 3.74, a quick ratio of 1.76 and a debt-to-equity ratio of 0.34.

Forum Energy Technologies (NYSE:FET) last posted its quarterly earnings results on Tuesday, October 31st. The oil and gas company reported ($0.10) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.10). Forum Energy Technologies had a negative net margin of 16.85% and a negative return on equity of 3.97%. The company had revenue of $198.70 million for the quarter, compared to the consensus estimate of $200.96 million. During the same period last year, the company posted ($0.19) EPS. The firm’s quarterly revenue was up 43.7% compared to the same quarter last year. analysts expect that Forum Energy Technologies, Inc. will post -0.36 EPS for the current year.

Several research firms recently commented on FET. Zacks Investment Research downgraded shares of Forum Energy Technologies from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Jefferies Group LLC set a $17.00 price objective on shares of Forum Energy Technologies and gave the stock a “hold” rating in a research note on Thursday, October 5th. Citigroup Inc. increased their price objective on shares of Forum Energy Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, October 5th. Capital One Financial Corporation downgraded shares of Forum Energy Technologies from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 28th. Finally, Barclays PLC downgraded shares of 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. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. Forum Energy Technologies has an average rating of “Hold” and an average target price of $18.20.

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Forum Energy Technologies 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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