Pacad Investment Ltd. Has $267,000 Position in Forum Energy Technologies, Inc. (FET)

Pacad Investment Ltd. boosted its stake in shares of Forum Energy Technologies, Inc. (NYSE:FET) by 8,450.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,100 shares of the oil and gas company’s stock after purchasing an additional 16,900 shares during the quarter. Pacad Investment Ltd.’s holdings in Forum Energy Technologies were worth $267,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in FET. BlackRock Inc. boosted its position in Forum Energy Technologies by 28,940.8% during the 1st quarter. BlackRock Inc. now owns 4,365,706 shares of the oil and gas company’s stock valued at $90,370,000 after purchasing an additional 4,350,673 shares during the period. Van ECK Associates Corp bought a new stake in Forum Energy Technologies during the 1st quarter valued at $25,200,000. Kennedy Capital Management Inc. bought a new stake in Forum Energy Technologies during the 1st quarter valued at $13,033,000. Barings LLC bought a new stake in Forum Energy Technologies during the 1st quarter valued at $8,429,000. Finally, Dimensional Fund Advisors LP raised its stake in Forum Energy Technologies by 7.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,978,173 shares of the oil and gas company’s stock valued at $103,046,000 after acquiring an additional 364,686 shares in the last quarter.

COPYRIGHT VIOLATION NOTICE: This report was originally published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this report on another website, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright legislation. The legal version of this report can be read at https://sportsperspectives.com/2017/09/11/pacad-investment-ltd-has-267000-position-in-forum-energy-technologies-inc-fet.html.

Forum Energy Technologies, Inc. (FET) opened at 12.40 on Monday. The stock’s 50 day moving average price is $12.23 and its 200-day moving average price is $16.42. Forum Energy Technologies, Inc. has a one year low of $10.05 and a one year high of $26.25. The stock’s market cap is $1.19 billion.

Forum Energy Technologies (NYSE:FET) last released its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.01. The company had revenue of $201.10 million during the quarter, compared to the consensus estimate of $194.16 million. Forum Energy Technologies had a negative return on equity of 4.55% and a negative net margin of 18.89%. On average, analysts predict that Forum Energy Technologies, Inc. will post ($0.30) earnings per share for the current year.

FET has been the topic of several recent analyst reports. Credit Suisse Group downgraded Forum Energy Technologies from an “outperform” rating to a “neutral” rating and cut their target price for the company from $23.00 to $12.00 in a research note on Thursday, August 24th. Deutsche Bank AG reaffirmed a “buy” rating and set a $25.00 target price (down previously from $26.00) on shares of Forum Energy Technologies in a research note on Tuesday, May 30th. BidaskClub downgraded Forum Energy Technologies from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Societe Generale initiated coverage on 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. Finally, Scotiabank set a $24.00 target price on Forum Energy Technologies and gave the company a “hold” rating in a research note on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $19.81.

Forum Energy Technologies Company 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.

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

Receive News & Ratings for Forum Energy Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forum Energy Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply