Forum Energy Technologies Inc (FET) : Bp Capital Fund Advisors reduced its stake in Forum Energy Technologies Inc by 1.98% during the most recent quarter end. The investment management company now holds a total of 487,743 shares of Forum Energy Technologies Inc which is valued at $8,062,392 after selling 9,833 shares in Forum Energy Technologies Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Forum Energy Technologies Inc makes up approximately 3.05% of Bp Capital Fund Advisors’s portfolio.
Other Hedge Funds, Including , Voya Investment Management boosted its stake in FET in the latest quarter, The investment management firm added 128,100 additional shares and now holds a total of 445,210 shares of Forum Energy Technologies Inc which is valued at $7,359,321. Forum Energy Technologies Inc makes up approx 0.02% of Voya Investment Management’s portfolio.First Mercantile Trust Co reduced its stake in FET by selling 12,215 shares or 40.33% in the most recent quarter. The Hedge Fund company now holds 18,070 shares of FET which is valued at $298,697. Forum Energy Technologies Inc makes up approx 0.04% of First Mercantile Trust Co’s portfolio. Hudson Bay Capital Management Lp sold out all of its stake in FET during the most recent quarter. The investment firm sold 142,709 shares of FET which is valued $2,358,980.Stephens Inc Ar reduced its stake in FET by selling 142 shares or 24.57% in the most recent quarter. The Hedge Fund company now holds 436 shares of FET which is valued at $7,368.
Forum Energy Technologies Inc opened for trading at $17.5 and hit $17.68 on the upside on Thursday, eventually ending the session at $17.64, with a gain of 0.40% or 0.07 points. The heightened volatility saw the trading volume jump to 6,90,079 shares. Company has a market cap of $1,611 M.
On the company’s financial health, Forum Energy Technologies Inc reported $-0.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $-0.26. The company had revenue of $142.80 million for the quarter, compared to analysts expectations of $142.10 million. The company’s revenue was down -49.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.16 EPS.
Many Wall Street Analysts have commented on Forum Energy Technologies Inc. Forum Energy Technologies Inc was Upgraded by CapitalOne to ” Overweight” on Aug 16, 2016. Forum Energy Technologies Inc was Upgraded by Iberia to ” Outperform” on Aug 1, 2016. Forum Energy Technologies Inc was Upgraded by Credit Suisse to ” Outperform” on Jul 18, 2016.
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. Its product offering includes a mix of engineered capital products and replaced items that are used in the exploration development production and transportation of oil and natural gas. Its capital products are targeted at drilling rig equipment for rigs upgrades and refurbishment projects; subsea construction and development projects; the placement of production equipment on producing wells and downstream capital projects. Its engineered systems are components used on drilling rigs or in the course of subsea operations while its consumable products are used to maintain operations at well sites in the well construction process within the supporting infrastructure and at processing centers and refineries. Its segments are Drilling & Subsea and Production & Infrastructure.