MML Investors Services LLC Has $377,000 Holdings in Forum Energy Technologies Inc (FET)

MML Investors Services LLC decreased its holdings in shares of Forum Energy Technologies Inc (NYSE:FET) by 28.9% during the third quarter, HoldingsChannel.com reports. The fund owned 36,413 shares of the oil and gas company’s stock after selling 14,770 shares during the quarter. MML Investors Services LLC’s holdings in Forum Energy Technologies were worth $377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the business. Dimensional Fund Advisors LP grew its position in shares of Forum Energy Technologies by 4.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,837,598 shares of the oil and gas company’s stock valued at $72,094,000 after purchasing an additional 254,467 shares in the last quarter. BlackRock Inc. grew its position in shares of Forum Energy Technologies by 4.3% during the 2nd quarter. BlackRock Inc. now owns 5,626,557 shares of the oil and gas company’s stock valued at $69,488,000 after purchasing an additional 232,637 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Forum Energy Technologies by 20.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,129,376 shares of the oil and gas company’s stock valued at $32,389,000 after purchasing an additional 529,804 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Forum Energy Technologies by 64.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,160,946 shares of the oil and gas company’s stock valued at $22,366,000 after purchasing an additional 843,553 shares in the last quarter. Finally, Boston Partners grew its position in shares of Forum Energy Technologies by 3.3% during the 2nd quarter. Boston Partners now owns 1,827,153 shares of the oil and gas company’s stock valued at $22,565,000 after purchasing an additional 58,992 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:FET opened at $5.69 on Friday. Forum Energy Technologies Inc has a 52-week low of $5.62 and a 52-week high of $17.95. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.25 and a current ratio of 3.47.

Forum Energy Technologies (NYSE:FET) last announced its earnings results on Monday, October 29th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. The company had revenue of $267.00 million during the quarter, compared to analyst estimates of $283.19 million. Forum Energy Technologies had a net margin of 5.87% and a negative return on equity of 0.74%. The firm’s quarterly revenue was up 34.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.10) earnings per share. On average, analysts anticipate that Forum Energy Technologies Inc will post -0.08 EPS for the current year.

FET has been the subject of a number of recent analyst reports. ValuEngine upgraded shares of Forum Energy Technologies from a “sell” rating to a “hold” rating in a research report on Friday, August 17th. Citigroup cut their target price on shares of Forum Energy Technologies from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Friday, September 14th. Johnson Rice lowered shares of Forum Energy Technologies from a “buy” rating to an “accumulate” rating and set a $15.00 target price for the company. in a research report on Monday, September 17th. JPMorgan Chase & Co. upped their target price on shares of Forum Energy Technologies from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Monday, September 17th. Finally, Morgan Stanley started coverage on shares of Forum Energy Technologies in a research report on Tuesday, September 18th. They issued an “equal weight” rating and a $13.00 target price for the company. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. Forum Energy Technologies currently has a consensus rating of “Hold” and an average price target of $12.18.

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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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Institutional Ownership by Quarter for Forum Energy Technologies (NYSE:FET)

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