TIAA CREF Investment Management LLC Has $2.89 Million Position in Forum Energy Technologies, Inc. (FET)

TIAA CREF Investment Management LLC increased its position in Forum Energy Technologies, Inc. (NYSE:FET) by 15.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 185,211 shares of the oil and gas company’s stock after acquiring an additional 25,267 shares during the quarter. TIAA CREF Investment Management LLC owned about 0.19% of Forum Energy Technologies worth $2,889,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. US Bancorp DE lifted its position in Forum Energy Technologies by 8.0% in the 2nd quarter. US Bancorp DE now owns 13,241 shares of the oil and gas company’s stock worth $206,000 after buying an additional 986 shares during the last quarter. Cutler Group LP lifted its position in Forum Energy Technologies by 22.8% in the second quarter. Cutler Group LP now owns 7,000 shares of the oil and gas company’s stock valued at $109,000 after purchasing an additional 1,300 shares during the last quarter. Texan Capital Management lifted its position in Forum Energy Technologies by 8.3% in the second quarter. Texan Capital Management now owns 16,900 shares of the oil and gas company’s stock valued at $264,000 after purchasing an additional 1,300 shares during the last quarter. American International Group Inc. lifted its position in Forum Energy Technologies by 7.0% in the first quarter. American International Group Inc. now owns 36,963 shares of the oil and gas company’s stock valued at $765,000 after purchasing an additional 2,427 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS increased its stake in shares of Forum Energy Technologies by 0.3% during the second quarter. Kornitzer Capital Management Inc. KS now owns 881,349 shares of the oil and gas company’s stock valued at $13,749,000 after buying an additional 2,475 shares during the period. 97.89% of the stock is owned by institutional investors.

FET has been the topic of several recent research reports. Zacks Investment Research cut Forum Energy Technologies from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Capital One Financial Corporation downgraded Forum Energy Technologies from an “overweight” rating to an “equal weight” rating in a report on Friday, July 28th. Cowen and Company lowered their price target on Forum Energy Technologies from $15.00 to $11.00 and set a “market perform” rating on the stock in a report on Tuesday, August 1st. Scotiabank set a $24.00 target price on Forum Energy Technologies and gave the company a “hold” rating in a report on Monday, July 31st. Finally, BidaskClub downgraded Forum Energy Technologies from a “sell” rating to a “strong sell” rating in a report on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $18.20.

Shares of Forum Energy Technologies, Inc. (NYSE FET) remained flat at $$14.25 during midday trading on Friday. 437,300 shares of the company’s stock were exchanged, compared to its average volume of 1,006,832. Forum Energy Technologies, Inc. has a 12-month low of $10.05 and a 12-month high of $26.25. The company has a current ratio of 3.74, a quick ratio of 1.76 and a debt-to-equity ratio of 0.34.

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 (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.10). Forum Energy Technologies had a negative return on equity of 3.97% and a negative net margin of 16.85%. The business had revenue of $198.70 million for the quarter, compared to the consensus estimate of $200.96 million. During the same period last year, the business posted ($0.19) EPS. The business’s revenue was up 43.7% compared to the same quarter last year. equities research analysts predict that Forum Energy Technologies, Inc. will post -0.36 earnings per share for the current year.

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Forum Energy Technologies 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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