Forum Energy Technologies (NYSE:FET) has been given a $15.00 price objective by Barclays in a report released on Monday. The brokerage presently has a “hold” rating on the oil and gas company’s stock. Barclays’ price objective indicates a potential upside of 29.65% from the company’s previous close.
A number of other equities analysts have also recently issued reports on FET. JPMorgan Chase & Co. decreased their price objective on shares of Forum Energy Technologies from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday. Cowen restated a “market perform” rating and issued a $10.00 price objective (down previously from $13.00) on shares of Forum Energy Technologies in a research report on Monday. B. Riley set a $13.00 price objective on shares of Forum Energy Technologies and gave the company a “neutral” rating in a research report on Monday. Deutsche Bank reduced their price target on shares of Forum Energy Technologies from $17.00 to $16.00 and set a “hold” rating on the stock in a research report on Monday. Finally, Zacks Investment Research cut shares of Forum Energy Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $16.87.
Forum Energy Technologies (NYSE:FET) traded down $0.18 during mid-day trading on Monday, hitting $11.57. 2,359,979 shares of the company’s stock were exchanged, compared to its average volume of 1,170,048. Forum Energy Technologies has a 12-month low of $10.05 and a 12-month high of $23.00. The stock has a market capitalization of $1,270.00, a PE ratio of -17.58 and a beta of 1.70. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.74 and a quick ratio of 1.76.
A number of large investors have recently bought and sold shares of FET. Vaughan Nelson Investment Management L.P. boosted its stake in Forum Energy Technologies by 96.4% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 3,541,025 shares of the oil and gas company’s stock worth $56,302,000 after acquiring an additional 1,738,375 shares in the last quarter. Citadel Advisors LLC bought a new position in shares of Forum Energy Technologies in the third quarter worth approximately $19,272,000. Boston Partners bought a new position in shares of Forum Energy Technologies in the third quarter worth approximately $14,297,000. BlackRock Inc. lifted its stake in shares of Forum Energy Technologies by 9.9% in the fourth quarter. BlackRock Inc. now owns 5,334,366 shares of the oil and gas company’s stock worth $82,950,000 after buying an additional 480,874 shares in the last quarter. Finally, Granite Investment Partners LLC lifted its stake in shares of Forum Energy Technologies by 72.7% in the third quarter. Granite Investment Partners LLC now owns 980,014 shares of the oil and gas company’s stock worth $15,582,000 after buying an additional 412,419 shares in the last quarter. 95.12% of the stock is currently owned by institutional investors and hedge funds.
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About Forum Energy Technologies
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.
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