Shares of Forum Energy Technologies Inc (NYSE:FET) have been assigned a consensus recommendation of “Hold” from the fifteen brokerages that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $14.30.

FET has been the topic of several research reports. ValuEngine lowered Forum Energy Technologies from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 23rd. Piper Jaffray Companies set a $13.00 price target on Forum Energy Technologies and gave the company a “hold” rating in a research note on Sunday, April 8th. Zacks Investment Research upgraded Forum Energy Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, March 20th. Finally, Citigroup lifted their target price on Forum Energy Technologies from $12.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, May 2nd.

Hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Forum Energy Technologies by 9.9% during the fourth quarter. BlackRock Inc. now owns 5,334,366 shares of the oil and gas company’s stock worth $82,950,000 after acquiring an additional 480,874 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Forum Energy Technologies by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 618,322 shares of the oil and gas company’s stock worth $9,614,000 after purchasing an additional 41,580 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Forum Energy Technologies by 6.4% during the fourth quarter. Bank of New York Mellon Corp now owns 518,554 shares of the oil and gas company’s stock worth $8,064,000 after purchasing an additional 31,061 shares during the period. Paloma Partners Management Co lifted its holdings in shares of Forum Energy Technologies by 6.5% during the fourth quarter. Paloma Partners Management Co now owns 84,079 shares of the oil and gas company’s stock worth $1,308,000 after purchasing an additional 5,118 shares during the period. Finally, American International Group Inc. lifted its holdings in shares of Forum Energy Technologies by 17.4% during the fourth quarter. American International Group Inc. now owns 54,313 shares of the oil and gas company’s stock worth $845,000 after purchasing an additional 8,040 shares during the period. Institutional investors and hedge funds own 95.76% of the company’s stock.

Shares of Forum Energy Technologies stock traded down $0.65 during trading on Friday, hitting $12.20. 693,826 shares of the stock traded hands, compared to its average volume of 1,135,690. The firm has a market cap of $1.41 billion, a P/E ratio of -33.16 and a beta of 1.95. The company has a current ratio of 3.47, a quick ratio of 1.31 and a debt-to-equity ratio of 0.32. Forum Energy Technologies has a 52-week low of $10.05 and a 52-week high of $17.95.

Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings results on Tuesday, May 1st. The oil and gas company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The firm had revenue of $250.20 million for the quarter, compared to analysts’ expectations of $245.23 million. Forum Energy Technologies had a negative net margin of 1.48% and a negative return on equity of 2.40%. analysts forecast that Forum Energy Technologies will post 0.01 earnings per share for the current year.

About Forum Energy Technologies

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.

Analyst Recommendations for Forum Energy Technologies (NYSE:FET)

Receive News & Ratings for Forum Energy Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forum Energy Technologies and related companies with MarketBeat.com's FREE daily email newsletter.