Forum Energy Technologies, Inc. (FET) Stake Held by Metropolitan Life Insurance Co. NY

Metropolitan Life Insurance Co. NY continued to hold its stake in Forum Energy Technologies, Inc. (NYSE:FET) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,831 shares of the oil and gas company’s stock at the end of the first quarter. Metropolitan Life Insurance Co. NY’s holdings in Forum Energy Technologies were worth $887,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Paloma Partners Management Co boosted its stake in Forum Energy Technologies by 148.6% in the first quarter. Paloma Partners Management Co now owns 50,504 shares of the oil and gas company’s stock worth $1,045,000 after buying an additional 30,190 shares in the last quarter. State Street Corp boosted its stake in Forum Energy Technologies by 3.6% in the first quarter. State Street Corp now owns 1,597,801 shares of the oil and gas company’s stock worth $33,073,000 after buying an additional 55,222 shares in the last quarter. Bank of America Corp DE boosted its stake in Forum Energy Technologies by 116.1% in the first quarter. Bank of America Corp DE now owns 503,609 shares of the oil and gas company’s stock worth $10,424,000 after buying an additional 270,587 shares in the last quarter. HighVista Strategies LLC boosted its stake in Forum Energy Technologies by 22.6% in the first quarter. HighVista Strategies LLC now owns 170,600 shares of the oil and gas company’s stock worth $3,531,000 after buying an additional 31,400 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in Forum Energy Technologies by 11.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 429,053 shares of the oil and gas company’s stock worth $8,882,000 after buying an additional 44,131 shares in the last quarter.

Forum Energy Technologies, Inc. (NYSE:FET) opened at 10.50 on Friday. Forum Energy Technologies, Inc. has a 1-year low of $10.35 and a 1-year high of $26.25. The firm’s market cap is $1.01 billion. The firm has a 50-day moving average price of $13.88 and a 200-day moving average price of $17.51.

Forum Energy Technologies (NYSE:FET) last issued 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 Thomson Reuters’ consensus estimate of ($0.11) by $0.01. Forum Energy Technologies had a negative return on equity of 4.55% and a negative net margin of 18.89%. The company had revenue of $201.10 million for the quarter, compared to analyst estimates of $194.16 million. On average, analysts expect that Forum Energy Technologies, Inc. will post ($0.31) earnings per share for the current fiscal year.

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A number of analysts have recently issued reports on the company. BidaskClub cut Forum Energy Technologies from a “sell” rating to a “strong sell” rating in a research report on Friday, August 4th. Zacks Investment Research raised Forum Energy Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Scotiabank set a $24.00 price target on Forum Energy Technologies and gave the company a “hold” rating in a research note on Monday, July 31st. Cowen and Company decreased their price target on Forum Energy Technologies from $15.00 to $11.00 and set a “market perform” rating on the stock in a research note on Tuesday, August 1st. Finally, Capital One Financial Corporation lowered Forum Energy Technologies from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $20.50.

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)

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