Jennison Associates LLC grew its holdings in shares of Forum Energy Technologies, Inc. (NYSE:FET) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,588,049 shares of the oil and gas company’s stock after purchasing an additional 42,861 shares during the quarter. Jennison Associates LLC owned approximately 2.39% of Forum Energy Technologies worth $41,150,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. D.A. Davidson & CO. purchased a new stake in Forum Energy Technologies in the 2nd quarter worth approximately $116,000. QS Investors LLC increased its holdings in Forum Energy Technologies by 205.7% in the 2nd quarter. QS Investors LLC now owns 8,323 shares of the oil and gas company’s stock worth $130,000 after acquiring an additional 5,600 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in Forum Energy Technologies by 280.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,368 shares of the oil and gas company’s stock worth $146,000 after acquiring an additional 6,906 shares in the last quarter. Aperio Group LLC purchased a new stake in Forum Energy Technologies in the 2nd quarter worth approximately $200,000. Finally, US Bancorp DE increased its holdings in Forum Energy Technologies by 8.0% in the 2nd quarter. US Bancorp DE now owns 13,241 shares of the oil and gas company’s stock worth $206,000 after acquiring an additional 986 shares in the last quarter. 98.58% of the stock is owned by hedge funds and other institutional investors.

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FET has been the subject of several analyst reports. Zacks Investment Research raised shares of Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Monday, October 16th. Capital One Financial Corporation lowered shares of Forum Energy Technologies from an “overweight” rating to an “equal weight” rating in a report on Friday, July 28th. Scotiabank set a $24.00 target price on shares of Forum Energy Technologies and gave the stock a “hold” rating in a report on Thursday, October 12th. Deutsche Bank AG initiated coverage on shares of Forum Energy Technologies in a report on Tuesday, October 10th. They issued a “hold” rating and a $17.00 target price for the company. Finally, Cowen and Company set a $11.00 target price on shares of Forum Energy Technologies and gave the stock a “hold” rating in a report on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $18.20.

Forum Energy Technologies, Inc. (FET) traded down $0.50 during midday trading on Wednesday, hitting $13.40. The stock had a trading volume of 646,300 shares, compared to its average volume of 1,002,236. The company has a quick ratio of 1.76, a current ratio of 3.74 and a debt-to-equity ratio of 0.34. Forum Energy Technologies, Inc. has a 52-week low of $10.05 and a 52-week high of $26.25.

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

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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