Sapience Investments LLC Buys 369,200 Shares of Forum Energy Technologies, Inc. (FET)

Sapience Investments LLC grew its stake in shares of Forum Energy Technologies, Inc. (NYSE:FET) by 55.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,036,700 shares of the oil and gas company’s stock after purchasing an additional 369,200 shares during the period. Forum Energy Technologies comprises about 2.6% of Sapience Investments LLC’s holdings, making the stock its 6th biggest holding. Sapience Investments LLC owned 1.07% of Forum Energy Technologies worth $16,173,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in FET. Ameritas Investment Partners Inc. purchased a new stake in shares of Forum Energy Technologies during the first quarter valued at $107,000. Cutler Group LP lifted its holdings in shares of Forum Energy Technologies by 22.8% during the second quarter. Cutler Group LP now owns 7,000 shares of the oil and gas company’s stock valued at $109,000 after purchasing an additional 1,300 shares during the last quarter. D.A. Davidson & CO. purchased a new stake in shares of Forum Energy Technologies during the second quarter valued at $116,000. Independent Portfolio Consultants Inc. lifted its holdings in shares of Forum Energy Technologies by 1,150.8% during the second quarter. Independent Portfolio Consultants Inc. now owns 7,505 shares of the oil and gas company’s stock valued at $117,000 after purchasing an additional 6,905 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Forum Energy Technologies by 280.5% during the second quarter. BNP Paribas Arbitrage SA now owns 9,368 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 6,906 shares during the last quarter.

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Shares of Forum Energy Technologies, Inc. (NYSE:FET) traded up 1.04% during midday trading on Friday, reaching $14.55. The company had a trading volume of 571,713 shares. Forum Energy Technologies, Inc. has a 52-week low of $10.05 and a 52-week high of $26.25. The firm’s market cap is $1.40 billion. The company’s 50-day moving average is $12.07 and its 200-day moving average is $15.96.

Forum Energy Technologies (NYSE:FET) last posted its earnings results on Thursday, July 27th. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. Forum Energy Technologies had a negative return on equity of 4.55% and a negative net margin of 18.89%. The firm had revenue of $201.10 million during the quarter, compared to analysts’ expectations of $194.16 million. Equities research analysts expect that Forum Energy Technologies, Inc. will post ($0.30) EPS for the current fiscal year.

Several equities research analysts have recently commented on FET shares. Deutsche Bank AG reaffirmed a “buy” rating and set a $25.00 target price (down from $26.00) on shares of Forum Energy Technologies in a report on Tuesday, May 30th. Societe Generale started coverage on Forum Energy Technologies in a report on Wednesday, June 7th. They set a “buy” rating and a $20.00 target price for the company. Jefferies Group LLC set a $19.00 target price on Forum Energy Technologies and gave the company a “hold” rating in a report on Tuesday, June 6th. BidaskClub raised Forum Energy Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $19.00 target price (down from $25.00) on shares of Forum Energy Technologies in a report on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. Forum Energy Technologies has an average rating of “Hold” and an average target price of $19.81.

Forum Energy Technologies Company Profile

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.

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

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