Contrarius Investment Management Ltd bought a new position in Forum Energy Technologies, Inc. (NYSE:FET) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 244,217 shares of the oil and gas company’s stock, valued at approximately $3,883,000. Contrarius Investment Management Ltd owned about 0.23% of Forum Energy Technologies as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nationwide Fund Advisors grew its holdings in Forum Energy Technologies by 1.7% during the 2nd quarter. Nationwide Fund Advisors now owns 66,648 shares of the oil and gas company’s stock worth $1,040,000 after acquiring an additional 1,083 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Forum Energy Technologies by 69.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 186,810 shares of the oil and gas company’s stock worth $2,915,000 after acquiring an additional 76,721 shares during the last quarter. Eagle Asset Management Inc. grew its holdings in Forum Energy Technologies by 4.6% during the 2nd quarter. Eagle Asset Management Inc. now owns 841,395 shares of the oil and gas company’s stock worth $13,125,000 after acquiring an additional 37,103 shares during the last quarter. Moody Aldrich Partners LLC grew its holdings in Forum Energy Technologies by 31.6% during the 2nd quarter. Moody Aldrich Partners LLC now owns 30,665 shares of the oil and gas company’s stock worth $478,000 after acquiring an additional 7,370 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Forum Energy Technologies by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 5,469,195 shares of the oil and gas company’s stock worth $113,213,000 after acquiring an additional 205,452 shares during the last quarter. 98.58% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Forum Energy Technologies, Inc. (NYSE FET) traded up $0.30 during trading hours on Friday, hitting $13.25. 396,958 shares of the company were exchanged, compared to its average volume of 961,881. 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, Inc. has a 1-year low of $10.05 and a 1-year high of $26.25.

Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings results on Tuesday, October 31st. The oil and gas company reported ($0.10) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.10). The business had revenue of $198.70 million for the quarter, compared to the consensus estimate of $200.96 million. Forum Energy Technologies had a negative net margin of 16.85% and a negative return on equity of 3.97%. Forum Energy Technologies’s revenue for the quarter was up 43.7% on a year-over-year basis. During the same period last year, the company posted ($0.19) EPS. analysts forecast that Forum Energy Technologies, Inc. will post -0.36 EPS for the current fiscal year.

FET has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Monday, October 16th. Capital One Financial Corporation lowered shares of Forum Energy Technologies from an “overweight” rating to an “equal weight” rating in a report on Friday, July 28th. Scotiabank set a $24.00 price objective on shares of Forum Energy Technologies and gave the stock a “hold” rating in a report on Thursday, October 12th. Deutsche Bank AG initiated coverage on shares of Forum Energy Technologies in a report on Tuesday, October 10th. They set a “hold” rating and a $17.00 price objective on the stock. Finally, Cowen and Company set a $11.00 price objective on shares of Forum Energy Technologies and gave the stock a “hold” rating in a report on Friday, October 6th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $18.20.

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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