Forum Energy Technologies, Inc. (NYSE:FET) has been given a $17.00 price objective by analysts at Jefferies Group LLC in a research report issued on Thursday, October 5th. The firm currently has a “hold” rating on the oil and gas company’s stock. Jefferies Group LLC’s price objective would suggest a potential upside of 21.00% from the stock’s previous close.
A number of other equities research analysts also recently issued reports on FET. Societe Generale started coverage on Forum Energy Technologies in a research note on Wednesday, June 7th. They set a “buy” rating and a $20.00 price target for the company. BidaskClub upgraded Forum Energy Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Morgan Stanley restated an “equal weight” rating and set a $19.00 price target (down from $25.00) on shares of Forum Energy Technologies in a research note on Wednesday, June 21st. Guggenheim downgraded Forum Energy Technologies from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 27th. Finally, Cowen and Company restated a “hold” rating and set a $15.00 price target on shares of Forum Energy Technologies in a research note on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $18.56.
Shares of Forum Energy Technologies (NYSE FET) opened at 14.15 on Thursday. The firm’s 50-day moving average is $13.88 and its 200 day moving average is $15.37. Forum Energy Technologies has a 12-month low of $10.05 and a 12-month high of $26.25. The stock’s market capitalization is $1.36 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, beating the Zacks’ consensus estimate of ($0.11) by $0.01. The business 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, equities research analysts forecast that Forum Energy Technologies will post ($0.30) EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd purchased a new position in Forum Energy Technologies in the 2nd quarter worth approximately $232,000. Sterling Capital Management LLC lifted its holdings in Forum Energy Technologies by 35.0% in the 2nd quarter. Sterling Capital Management LLC now owns 143,111 shares of the oil and gas company’s stock worth $2,233,000 after purchasing an additional 37,111 shares in the last quarter. California State Teachers Retirement System lifted its holdings in Forum Energy Technologies by 3.4% in the 2nd quarter. California State Teachers Retirement System now owns 122,266 shares of the oil and gas company’s stock worth $1,907,000 after purchasing an additional 4,034 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Forum Energy Technologies by 18.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 55,346 shares of the oil and gas company’s stock worth $863,000 after purchasing an additional 8,454 shares in the last quarter. Finally, BlueCrest Capital Management Ltd lifted its holdings in Forum Energy Technologies by 194.4% in the 2nd quarter. BlueCrest Capital Management Ltd now owns 132,651 shares of the oil and gas company’s stock worth $2,069,000 after purchasing an additional 87,589 shares in the last quarter. 95.64% of the stock is currently owned by institutional investors.
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.
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