Viking Fund Management buys $19,052,000 stake in Forum Energy Technologies Inc (FET)

Forum Energy Technologies Inc (FET) : Viking Fund Management scooped up 240,000 additional shares in Forum Energy Technologies Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 13, 2016. The investment management firm now holds a total of 880,000 shares of Forum Energy Technologies Inc which is valued at $19,052,000.Forum Energy Technologies Inc makes up approximately 3.06% of Viking Fund Management’s portfolio.

Other Hedge Funds, Including , Creative Planning sold out all of its stake in FET during the most recent quarter. The investment firm sold 90 shares of FET which is valued $1,985.Eagle Asset Management Inc boosted its stake in FET in the latest quarter, The investment management firm added 144,942 additional shares and now holds a total of 711,290 shares of Forum Energy Technologies Inc which is valued at $15,683,945. Forum Energy Technologies Inc makes up approx 0.11% of Eagle Asset Management Inc’s portfolio.First Mercantile Trust Co reduced its stake in FET by selling 2,470 shares or 13.67% in the most recent quarter. The Hedge Fund company now holds 15,600 shares of FET which is valued at $331,500. Forum Energy Technologies Inc makes up approx 0.04% of First Mercantile Trust Co’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in FET in the latest quarter, The investment management firm added 2,688 additional shares and now holds a total of 7,519 shares of Forum Energy Technologies Inc which is valued at $157,523.Independent Portfolio Consultants reduced its stake in FET by selling 125 shares or 19.84% in the most recent quarter. The Hedge Fund company now holds 505 shares of FET which is valued at $10,580.

Forum Energy Technologies Inc closed down -0.3 points or -1.34% at $22.05 with 9,98,195 shares getting traded on Tuesday. Post opening the session at $22.15, the shares hit an intraday low of $21.55 and an intraday high of $22.15 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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. Cowen Downgraded Forum Energy Technologies Inc on Oct 14, 2016 to ” Market Perform”, Price Target of the shares are set at $18.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. 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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Forum Energy Technologies Inc - Is it time to Sell?

Top Brokerage Firms are advising their investors on Forum Energy Technologies Inc. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.