Forum Energy Technologies (FET) – Investment Analysts’ Weekly Ratings Updates

A number of firms have modified their ratings and price targets on shares of Forum Energy Technologies (NYSE: FET) recently:

  • 3/18/2019 – Forum Energy Technologies was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $6.75 price target on the stock. According to Zacks, “Forum Energy Technologies is a global oilfield products company, serving the subsea, drilling, completion, production and infrastructure sectors of the oil and natural gas industry. The Company designs and manufactures products, and engages in aftermarket services, parts supply and related services that complement the Company’s product offering. “
  • 3/15/2019 – Forum Energy Technologies was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Forum Energy Technologies is a global oilfield products company, serving the subsea, drilling, completion, production and infrastructure sectors of the oil and natural gas industry. The Company designs and manufactures products, and engages in aftermarket services, parts supply and related services that complement the Company’s product offering. “
  • 3/14/2019 – Forum Energy Technologies was upgraded by analysts at Citigroup Inc from a “neutral” rating to a “buy” rating.
  • 3/6/2019 – Forum Energy Technologies was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $6.50 price target on the stock. According to Zacks, “Forum Energy Technologies is a global oilfield products company, serving the subsea, drilling, completion, production and infrastructure sectors of the oil and natural gas industry. The Company designs and manufactures products, and engages in aftermarket services, parts supply and related services that complement the Company’s product offering. “
  • 2/19/2019 – Forum Energy Technologies had its “neutral” rating reaffirmed by analysts at B. Riley.
  • 2/11/2019 – Forum Energy Technologies had its “buy” rating reaffirmed by analysts at Gabelli.

Forum Energy Technologies stock traded down $0.60 during trading hours on Friday, hitting $5.47. 993,409 shares of the stock were exchanged, compared to its average volume of 1,220,652. The company has a current ratio of 3.23, a quick ratio of 1.21 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $668.17 million, a price-to-earnings ratio of 273.50 and a beta of 2.35. Forum Energy Technologies Inc has a 12 month low of $3.51 and a 12 month high of $16.02.

Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings data on Thursday, February 7th. The oil and gas company reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.11. The firm had revenue of $272.90 million for the quarter, compared to analysts’ expectations of $257.82 million. Forum Energy Technologies had a negative net margin of 35.15% and a positive return on equity of 0.16%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.04) earnings per share. As a group, equities research analysts predict that Forum Energy Technologies Inc will post -0.12 EPS for the current year.

Several hedge funds have recently made changes to their positions in FET. Public Employees Retirement System of Ohio lifted its holdings in Forum Energy Technologies by 25.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 9,083 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 1,833 shares during the period. Rehmann Capital Advisory Group raised its holdings in Forum Energy Technologies by 920.2% in the third quarter. Rehmann Capital Advisory Group now owns 10,784 shares of the oil and gas company’s stock worth $1,042,000 after purchasing an additional 9,727 shares during the period. Jefferies Group LLC acquired a new stake in Forum Energy Technologies in the third quarter worth $112,000. Citigroup Inc. raised its holdings in Forum Energy Technologies by 588.6% in the fourth quarter. Citigroup Inc. now owns 12,181 shares of the oil and gas company’s stock worth $50,000 after purchasing an additional 10,412 shares during the period. Finally, CWM Advisors LLC increased its position in shares of Forum Energy Technologies by 102.0% during the fourth quarter. CWM Advisors LLC now owns 20,257 shares of the oil and gas company’s stock worth $84,000 after acquiring an additional 10,228 shares in the last quarter. Institutional investors own 91.41% of the company’s stock.

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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