Royce & Associates LP Has $3.98 Million Stake in Forum Energy Technologies Inc (FET)

Royce & Associates LP boosted its position in shares of Forum Energy Technologies Inc (NYSE:FET) by 19.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 250,319 shares of the oil and gas company’s stock after purchasing an additional 41,000 shares during the period. Royce & Associates LP owned about 0.23% of Forum Energy Technologies worth $3,980,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in FET. D.A. Davidson & CO. bought a new position in Forum Energy Technologies during the 2nd quarter valued at about $116,000. QS Investors LLC raised its stake in shares of Forum Energy Technologies by 205.7% in the second 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 during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Forum Energy Technologies by 280.5% in the second 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 during the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in shares of Forum Energy Technologies by 86.4% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 9,556 shares of the oil and gas company’s stock worth $152,000 after acquiring an additional 4,429 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Forum Energy Technologies in the third quarter worth about $185,000. 95.72% of the stock is owned by hedge funds and other institutional investors.

FET has been the subject of a number of research analyst reports. Credit Suisse Group downgraded shares of Forum Energy Technologies from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $23.00 to $12.00 in a research note on Thursday, August 24th. Citigroup boosted their target price 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. Jefferies Group set a $17.00 target price on shares of Forum Energy Technologies and gave the stock a “hold” rating in a research note on Thursday, October 5th. Cowen set a $11.00 target price on shares of Forum Energy Technologies and gave the stock a “hold” rating in a research note on Friday, October 6th. Finally, Deutsche Bank initiated coverage on shares of Forum Energy Technologies in a research note on Tuesday, October 10th. They issued a “hold” rating and a $17.00 target price for the company. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $17.79.

Shares of Forum Energy Technologies Inc (NYSE:FET) opened at $14.20 on Tuesday. Forum Energy Technologies Inc has a 1 year low of $10.05 and a 1 year high of $26.25. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.76 and a current ratio of 3.74.

Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings results on Tuesday, October 31st. The oil and gas company reported ($0.10) EPS for the quarter, hitting the consensus estimate 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 during the quarter, compared to analysts’ expectations of $200.96 million. During the same quarter in the previous year, the company earned ($0.19) EPS. Forum Energy Technologies’s revenue was up 43.7% on a year-over-year basis. equities analysts expect that Forum Energy Technologies Inc will post -0.36 earnings per share for the current fiscal year.

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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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