Forum Energy Technologies (FET) Rating Reiterated by Cowen

Forum Energy Technologies (NYSE:FET)‘s stock had its “market perform” rating reiterated by equities research analysts at Cowen in a research note issued on Monday, MarketBeat.com reports. They currently have a $10.00 target price on the oil and gas company’s stock, down from their prior target price of $13.00. Cowen’s price objective points to a potential downside of 13.57% from the stock’s current price.

FET has been the subject of a number of other reports. Zacks Investment Research downgraded Forum Energy Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Jefferies Group set a $17.00 target price on Forum Energy Technologies and gave the stock a “hold” rating in a research report on Thursday, January 4th. Capital One Financial raised Forum Energy Technologies from an “equal weight” rating to an “overweight” rating in a research report on Friday. B. Riley set a $13.00 target price on Forum Energy Technologies and gave the stock a “neutral” rating in a research report on Monday. Finally, Barclays reissued a “hold” rating and issued a $17.00 target price on shares of Forum Energy Technologies in a research report on Sunday, November 5th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $17.00.

Shares of Forum Energy Technologies (NYSE:FET) traded down $0.18 on Monday, hitting $11.57. The company had a trading volume of 1,394,396 shares, compared to its average volume of 1,112,557. The company has a quick ratio of 1.76, a current ratio of 3.74 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $1,270.00, a P/E ratio of -16.92 and a beta of 1.70. Forum Energy Technologies has a one year low of $10.05 and a one year high of $23.00.

Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings results on Thursday, February 8th. The oil and gas company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.01). The business had revenue of $247.70 million for the quarter, compared to analysts’ expectations of $249.85 million. Forum Energy Technologies had a negative net margin of 6.99% and a negative return on equity of 3.11%. The business’s revenue was up 68.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.16) earnings per share. sell-side analysts anticipate that Forum Energy Technologies will post 0.15 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. QS Investors LLC grew its position in shares of Forum Energy Technologies by 205.7% in the second quarter. QS Investors LLC now owns 8,323 shares of the oil and gas company’s stock valued at $130,000 after purchasing an additional 5,600 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its position in shares of Forum Energy Technologies by 86.4% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 9,556 shares of the oil and gas company’s stock valued at $152,000 after purchasing an additional 4,429 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Forum Energy Technologies in the third quarter valued at $185,000. MHI Funds LLC purchased a new position in shares of Forum Energy Technologies in the fourth quarter valued at $218,000. Finally, Suntrust Banks Inc. grew its position in shares of Forum Energy Technologies by 0.5% in the second quarter. Suntrust Banks Inc. now owns 14,776 shares of the oil and gas company’s stock valued at $229,000 after purchasing an additional 68 shares in the last quarter. Institutional investors own 95.12% of the company’s stock.

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Forum Energy Technologies Company 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.

Analyst Recommendations for Forum Energy Technologies (NYSE:FET)

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