Forum Energy Technologies (NYSE:FET) has been assigned a $15.00 target price by research analysts at Barclays in a research note issued on Monday. The brokerage presently has a “hold” rating on the oil and gas company’s stock. Barclays’ target price would suggest a potential upside of 29.65% from the company’s previous close.
A number of other brokerages have also recently commented on FET. Zacks Investment Research upgraded shares of Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Monday, October 16th. JPMorgan Chase & Co. cut their price target on shares of Forum Energy Technologies from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday. Cowen reiterated a “market perform” rating and issued a $10.00 price target (down previously from $13.00) on shares of Forum Energy Technologies in a research note on Monday. B. Riley set a $13.00 price target on shares of Forum Energy Technologies and gave the company a “neutral” rating in a research note on Monday. Finally, Capital One Financial upgraded shares of Forum Energy Technologies from an “equal weight” rating to an “overweight” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $16.87.
Shares of Forum Energy Technologies (NYSE FET) traded down $0.18 on Monday, reaching $11.57. 2,272,243 shares of the company traded hands, compared to its average volume of 1,128,400. Forum Energy Technologies has a fifty-two week low of $10.05 and a fifty-two week high of $23.00. The firm 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.
Forum Energy Technologies (NYSE:FET) last announced its earnings results on Thursday, February 8th. The oil and gas company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.01). The business had revenue of $247.70 million for the quarter, compared to analyst estimates of $249.85 million. Forum Energy Technologies had a negative return on equity of 3.11% and a negative net margin of 6.99%. The business’s revenue for the quarter was up 68.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.16) EPS. equities research analysts predict that Forum Energy Technologies will post 0.15 EPS for the current year.
Institutional investors and hedge funds have recently modified their holdings of the company. QS Investors LLC raised 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 during the period. Bronfman E.L. Rothschild L.P. raised 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 during the period. SG Americas Securities LLC bought a new position in shares of Forum Energy Technologies in the third quarter valued at about $185,000. MHI Funds LLC bought a new position in shares of Forum Energy Technologies in the fourth quarter valued at about $218,000. Finally, Suntrust Banks Inc. raised 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 during the period. 95.12% of the stock is currently owned by institutional investors.
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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