Forum Energy Technologies (NYSE:FET) announced its quarterly earnings results on Thursday. The oil and gas company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.03), Briefing.com reports. Forum Energy Technologies had a negative net margin of 38.63% and a negative return on equity of 0.19%. The company had revenue of $245.60 million during the quarter, compared to the consensus estimate of $254.91 million. During the same period in the previous year, the firm posted ($0.01) EPS. The business’s quarterly revenue was down 10.4% compared to the same quarter last year.

Shares of FET stock traded up $0.07 during trading on Friday, reaching $2.38. The company’s stock had a trading volume of 2,749,331 shares, compared to its average volume of 1,065,121. The firm’s fifty day moving average is $3.10. The company has a current ratio of 3.18, a quick ratio of 1.16 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $253.89 million, a P/E ratio of 119.00 and a beta of 2.33. Forum Energy Technologies has a one year low of $2.25 and a one year high of $13.25.

A number of research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Green Plains Partners from a “buy” rating to a “hold” rating in a research note on Friday. Barclays set a $192.00 price target on shares of Tesla and gave the company a “sell” rating in a research note on Tuesday, April 9th. Piper Jaffray Companies set a $55.00 price target on shares of Pacira Biosciences and gave the company a “buy” rating in a research note on Tuesday, April 9th. Bank of America reaffirmed an “underperform” rating and issued a $1.25 price target (down previously from $4.50) on shares of Superior Energy Services in a research note on Tuesday, June 25th. Finally, B. Riley set a $18.00 price target on shares of TiVo and gave the company a “buy” rating in a research note on Friday, July 12th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $8.34.

Several hedge funds have recently made changes to their positions in the company. First Trust Advisors LP boosted its holdings in Forum Energy Technologies by 337.1% in the 4th quarter. First Trust Advisors LP now owns 207,696 shares of the oil and gas company’s stock valued at $858,000 after purchasing an additional 160,174 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Forum Energy Technologies by 34.0% in the 4th quarter. California Public Employees Retirement System now owns 50,144 shares of the oil and gas company’s stock valued at $207,000 after purchasing an additional 12,728 shares in the last quarter. BlackRock Inc. boosted its holdings in Forum Energy Technologies by 1.6% in the 4th quarter. BlackRock Inc. now owns 5,926,930 shares of the oil and gas company’s stock valued at $24,479,000 after purchasing an additional 91,883 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Forum Energy Technologies by 10.4% in the 4th quarter. Bank of New York Mellon Corp now owns 603,368 shares of the oil and gas company’s stock valued at $2,493,000 after purchasing an additional 56,676 shares in the last quarter. Finally, Citigroup Inc. boosted its holdings in Forum Energy Technologies by 588.6% in the 4th quarter. Citigroup Inc. now owns 12,181 shares of the oil and gas company’s stock valued at $50,000 after purchasing an additional 10,412 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors and hedge funds.

About Forum Energy Technologies

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 through 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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Earnings History for Forum Energy Technologies (NYSE:FET)

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