Schwab Charles Investment Management Inc. grew its stake in shares of Forum Energy Technologies Inc (NYSE:FET) by 12.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 687,992 shares of the oil and gas company’s stock after buying an additional 77,438 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.63% of Forum Energy Technologies worth $7,568,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in FET. MML Investors Services LLC bought a new position in shares of Forum Energy Technologies during the fourth quarter valued at about $159,000. Two Sigma Investments LP bought a new position in shares of Forum Energy Technologies during the fourth quarter valued at about $163,000. Amalgamated Bank bought a new position in shares of Forum Energy Technologies during the fourth quarter valued at about $167,000. ETRADE Capital Management LLC bought a new position in shares of Forum Energy Technologies during the fourth quarter valued at about $213,000. Finally, Aperio Group LLC grew its stake in shares of Forum Energy Technologies by 40.7% during the fourth quarter. Aperio Group LLC now owns 19,110 shares of the oil and gas company’s stock valued at $297,000 after buying an additional 5,529 shares during the last quarter. 95.74% of the stock is currently owned by hedge funds and other institutional investors.
FET has been the topic of a number of recent research reports. ValuEngine cut Forum Energy Technologies from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st. Zacks Investment Research raised Forum Energy Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, March 20th. Piper Jaffray Companies set a $13.00 target price on Forum Energy Technologies and gave the stock a “hold” rating in a research note on Sunday, April 8th. Finally, Citigroup raised their target price on Forum Energy Technologies from $12.00 to $14.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 2nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $14.58.
Forum Energy Technologies opened at $12.65 on Wednesday, according to MarketBeat. The stock has a market capitalization of $1.33 billion, a P/E ratio of -33.29 and a beta of 1.90. Forum Energy Technologies Inc has a 1 year low of $10.05 and a 1 year high of $17.95. 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 (NYSE:FET) last posted its earnings results on Tuesday, May 1st. The oil and gas company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The company had revenue of $250.20 million for the quarter, compared to analysts’ expectations of $245.23 million. Forum Energy Technologies had a negative return on equity of 2.40% and a negative net margin of 1.48%. analysts anticipate that Forum Energy Technologies Inc will post 0.02 EPS for the current fiscal year.
Forum Energy Technologies Company 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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