Stock Worth Mentioning Today: What Will Happen to Forum Energy Technologies Inc Next? The Stock Just Increased A Lot

Stock Worth Mentioning Today: What Will Happen to Forum Energy Technologies Inc Next? The Stock Just Increased A Lot

The stock of Forum Energy Technologies Inc (NYSE:FET) is a huge mover today! About 853,708 shares traded hands. Forum Energy Technologies Inc (NYSE:FET) has risen 24.67% since April 27, 2016 and is uptrending. It has outperformed by 19.45% the S&P500.
The move comes after 8 months positive chart setup for the $1.96B company. It was reported on Nov, 30 by Barchart.com. We have $23.71 PT which if reached, will make NYSE:FET worth $156.80 million more.

Analysts await Forum Energy Technologies Inc (NYSE:FET) to report earnings on February, 9. They expect $-0.17 earnings per share, down 41.67% or $0.05 from last year’s $-0.12 per share. After $-0.19 actual earnings per share reported by Forum Energy Technologies Inc for the previous quarter, Wall Street now forecasts -10.53% EPS growth.

Forum Energy Technologies Inc (NYSE:FET) Ratings Coverage

Out of 17 analysts covering Forum Energy Technologies (NYSE:FET), 5 rate it a “Buy”, 0 “Sell”, while 12 “Hold”. This means 29% are positive. Forum Energy Technologies has been the topic of 42 analyst reports since July 28, 2015 according to StockzIntelligence Inc. Jefferies maintained it with “Hold” rating and $18 target price in Monday, July 11 report. The firm has “Sector Perform” rating by Howard Weil given on Tuesday, February 16. Zacks upgraded Forum Energy Technologies Inc (NYSE:FET) on Friday, August 14 to “Sell” rating. Credit Suisse maintained Forum Energy Technologies Inc (NYSE:FET) on Friday, September 4 with “Neutral” rating. Citigroup downgraded it to “Neutral” rating and $14 target price in Friday, March 18 report. The stock of Forum Energy Technologies Inc (NYSE:FET) has “Buy” rating given on Thursday, October 6 by DA Davidson. The firm earned “Market Perform” rating on Friday, October 14 by Cowen & Co. The firm has “Sector Perform” rating given on Tuesday, February 16 by Iberia Capital Partners. The firm has “Outperform” rating given on Monday, July 18 by Credit Suisse. The stock has “Hold” rating given by Zacks on Monday, September 21.

According to Zacks Investment Research, “Forum Energy Technologies is a global oilfield products company, serving the subsea, drilling, completion, production and infrastructure sectors of the oil and natural gas industry. The Company designs and manufactures products, and engages in aftermarket services, parts supply and related services that complement the Company’s product offering.”

Insitutional Activity: The institutional sentiment increased to 1.51 in Q2 2016. Its up 0.53, from 0.98 in 2016Q1. The ratio is positive, as 17 funds sold all Forum Energy Technologies Inc shares owned while 47 reduced positions. 23 funds bought stakes while 40 increased positions. They now own 90.83 million shares or 0.57% less from 91.35 million shares in 2016Q1.
Waddell Reed Financial Incorporated reported 1.18M shares or 0.04% of all its holdings. Wellington Grp Inc Ltd Liability Partnership holds 1.59 million shares or 0.01% of its portfolio. Bridgeway Cap Mgmt Inc last reported 0.06% of its portfolio in the stock. Guggenheim Limited reported 36,752 shares or 0% of all its holdings. Great West Life Assurance Can reported 6,392 shares or 0% of all its holdings. Northern Corporation holds 1.25 million shares or 0.01% of its portfolio. Dimensional Fund Advisors Limited Partnership holds 3.70M shares or 0.04% of its portfolio. Panagora Asset Mgmt Inc has 6,449 shares for 0% of their US portfolio. Moreover, Morgan Stanley has 0% invested in Forum Energy Technologies Inc (NYSE:FET) for 183,167 shares. The New York-based Teachers Advisors has invested 0% in Forum Energy Technologies Inc (NYSE:FET). The Texas-based Teacher Retirement System Of Texas has invested 0% in Forum Energy Technologies Inc (NYSE:FET). Prtnrs Limited Com has 0.24% invested in the company for 176,000 shares. Bessemer Gru accumulated 4,046 shares or 0% of the stock. Retail Bank Of Mellon Corp accumulated 398,866 shares or 0% of the stock. Citigroup Inc has 0% invested in the company for 13,822 shares.

More recent Forum Energy Technologies Inc (NYSE:FET) news were published by: Businesswire.com which released: “Forum Energy Technologies Announces Acquisition of a Wholesale Completion …” on April 29, 2016. Also Businesswire.com published the news titled: “Forum Energy Technologies Announces Third Quarter 2016 Results” on October 27, 2016. Seekingalpha.com‘s news article titled: “Forum Energy Technologies (FET) Q3 2016 Results – Earnings Call Transcript” with publication date: October 28, 2016 was also an interesting one.

FET Company Profile

Forum Energy Technologies, Inc., incorporated on May 10, 2005, is an oilfield products company. The Firm designs, makes and distributes products and engages in aftermarket services, parts supply and related services. The Firm operates through two divisions: Drilling & Subsea, and Production & Infrastructure. The Company’s 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. The Company’s 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; pressure pumping equipment, and downstream capital projects. The Company’s engineered systems are components used on drilling rigs for completions or in the course of subsea operations, while its consumable products are used to maintain activities at well sites in the well construction process, within the supporting infrastructure and at processing centers and refineries. The Firm seeks to design, manufacture and supply reliable products for its diverse clients base, which includes, among others, gas and oil operators, land and offshore drilling contractors, oilfield service companies, subsea construction and service companies, and pipeline and refinery operators. The Firm serves the subsea, drilling, completion, production and infrastructure sectors of the oil and natural gas industry.

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