California Public Employees Retirement System trimmed its position in Forum Energy Technologies Inc (NYSE:FET) by 16.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,869 shares of the oil and gas company’s stock after selling 6,426 shares during the period. California Public Employees Retirement System’s holdings in Forum Energy Technologies were worth $406,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of FET. FMR LLC lifted its holdings in Forum Energy Technologies by 117.4% in the second quarter. FMR LLC now owns 684,300 shares of the oil and gas company’s stock valued at $8,451,000 after acquiring an additional 369,500 shares during the period. Granite Investment Partners LLC lifted its holdings in Forum Energy Technologies by 32.1% in the second quarter. Granite Investment Partners LLC now owns 1,201,005 shares of the oil and gas company’s stock valued at $14,832,000 after acquiring an additional 291,980 shares during the period. Eagle Asset Management Inc. lifted its holdings in Forum Energy Technologies by 156.0% in the second quarter. Eagle Asset Management Inc. now owns 431,455 shares of the oil and gas company’s stock valued at $5,328,000 after acquiring an additional 262,899 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Forum Energy Technologies by 4.6% in the second quarter. Dimensional Fund Advisors LP now owns 5,837,598 shares of the oil and gas company’s stock valued at $72,094,000 after acquiring an additional 254,467 shares during the period. Finally, BlackRock Inc. lifted its holdings in Forum Energy Technologies by 4.3% in the second quarter. BlackRock Inc. now owns 5,626,557 shares of the oil and gas company’s stock valued at $69,488,000 after acquiring an additional 232,637 shares during the period. Hedge funds and other institutional investors own 93.11% of the company’s stock.

A number of equities research analysts have commented on the company. Morgan Stanley set a $12.00 target price on Forum Energy Technologies and gave the company a “hold” rating in a report on Tuesday, November 6th. Credit Suisse Group reduced their target price on Forum Energy Technologies from $12.00 to $10.00 and set a “hold” rating for the company in a report on Wednesday, October 31st. Citigroup reduced their target price on Forum Energy Technologies from $13.00 to $10.00 and set a “hold” rating for the company in a report on Wednesday, October 31st. Zacks Investment Research raised Forum Energy Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, October 30th. Finally, Barclays set a $12.00 target price on Forum Energy Technologies and gave the company a “hold” rating in a report on Wednesday, October 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $12.73.

NYSE:FET opened at $7.16 on Wednesday. The firm has a market cap of $876.61 million, a PE ratio of -18.84 and a beta of 1.95. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.47 and a quick ratio of 1.25. Forum Energy Technologies Inc has a 52-week low of $7.15 and a 52-week high of $17.95.

Forum Energy Technologies (NYSE:FET) last released its quarterly earnings results on Monday, October 29th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. The business had revenue of $267.00 million during the quarter, compared to the consensus estimate of $283.19 million. Forum Energy Technologies had a negative return on equity of 0.74% and a net margin of 5.87%. The business’s revenue was up 34.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.10) EPS. On average, analysts expect that Forum Energy Technologies Inc will post -0.06 EPS for the current fiscal year.

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Forum Energy Technologies Profile

Forum Energy Technologies, Inc designs, manufactures, and distributes products to the oil and natural gas industry in the United States and internationally. The company operates in three segments: Drilling & Subsea, Completions, and Production & Infrastructure. The Drilling & Subsea segment designs and manufactures products, and provides related services to the drilling, energy subsea construction and service markets, and other markets, such as alternative energy, defense, and communications.

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

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