Granite Investment Partners LLC grew its position in shares of Forum Energy Technologies Inc (NYSE:FET) by 6.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,280,111 shares of the oil and gas company’s stock after acquiring an additional 79,106 shares during the quarter. Granite Investment Partners LLC owned about 1.17% of Forum Energy Technologies worth $13,249,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Eagle Asset Management Inc. boosted its position in Forum Energy Technologies by 6.6% during the third quarter. Eagle Asset Management Inc. now owns 459,837 shares of the oil and gas company’s stock worth $4,759,000 after purchasing an additional 28,382 shares during the period. JPMorgan Chase & Co. boosted its position in Forum Energy Technologies by 64.0% during the third quarter. JPMorgan Chase & Co. now owns 2,160,946 shares of the oil and gas company’s stock worth $22,366,000 after purchasing an additional 843,553 shares during the period. SG Americas Securities LLC bought a new stake in Forum Energy Technologies during the third quarter worth approximately $280,000. Wells Fargo & Company MN boosted its position in Forum Energy Technologies by 39.0% during the third quarter. Wells Fargo & Company MN now owns 1,407,903 shares of the oil and gas company’s stock worth $14,572,000 after purchasing an additional 395,260 shares during the period. Finally, TCW Group Inc. boosted its position in Forum Energy Technologies by 17.6% during the third quarter. TCW Group Inc. now owns 115,497 shares of the oil and gas company’s stock worth $1,196,000 after purchasing an additional 17,247 shares during the period. 94.10% of the stock is owned by institutional investors.

A number of equities research analysts have issued reports on the company. Zacks Investment Research raised Forum Energy Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, October 30th. Credit Suisse Group decreased their target price on Forum Energy Technologies from $12.00 to $10.00 and set a “hold” rating for the company in a research report on Wednesday, October 31st. Morgan Stanley set a $12.00 target price on Forum Energy Technologies and gave the stock a “hold” rating in a research report on Tuesday, November 6th. ValuEngine raised Forum Energy Technologies from a “strong sell” rating to a “sell” rating in a research report on Monday, July 30th. Finally, Citigroup decreased their target price on Forum Energy Technologies from $13.00 to $10.00 and set a “hold” rating for the company in a research report on Wednesday, October 31st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. Forum Energy Technologies presently has a consensus rating of “Hold” and an average price target of $12.73.

Shares of FET stock opened at $7.62 on Monday. Forum Energy Technologies Inc has a 12 month low of $7.03 and a 12 month high of $17.95. The company has a market cap of $831.85 million, a PE ratio of -20.05 and a beta of 1.95. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.47 and a quick ratio of 1.25.

Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings results on Monday, October 29th. The oil and gas company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. Forum Energy Technologies had a negative return on equity of 0.74% and a net margin of 5.87%. The company had revenue of $267.00 million during the quarter, compared to analyst estimates of $283.19 million. During the same period in the previous year, the company earned ($0.10) earnings per share. The company’s quarterly revenue was up 34.4% compared to the same quarter last year. Equities analysts anticipate that Forum Energy Technologies Inc will post -0.05 earnings per share for the current fiscal year.

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Forum Energy Technologies Profile

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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Institutional Ownership by Quarter for Forum Energy Technologies (NYSE:FET)

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