Forum Energy Technologies, Inc. $FET Shares Acquired by Strs Ohio

Strs Ohio increased its position in shares of Forum Energy Technologies, Inc. (NYSE:FET) by 468.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,600 shares of the oil and gas company’s stock after buying an additional 17,800 shares during the period. Strs Ohio owned about 0.18% of Forum Energy Technologies worth $577,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FET. Bailard Inc. lifted its stake in shares of Forum Energy Technologies by 5.3% in the third quarter. Bailard Inc. now owns 13,800 shares of the oil and gas company’s stock worth $369,000 after acquiring an additional 700 shares in the last quarter. New York State Teachers Retirement System acquired a new position in shares of Forum Energy Technologies in the 3rd quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Forum Energy Technologies by 3.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 296,996 shares of the oil and gas company’s stock valued at $7,906,000 after buying an additional 8,917 shares during the last quarter. Osaic Holdings Inc. purchased a new position in shares of Forum Energy Technologies during the 2nd quarter valued at approximately $78,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Forum Energy Technologies by 558.7% during the second quarter. Tower Research Capital LLC TRC now owns 2,088 shares of the oil and gas company’s stock worth $41,000 after buying an additional 1,771 shares in the last quarter. 65.60% of the stock is owned by hedge funds and other institutional investors.

Forum Energy Technologies Trading Up 0.4%

Forum Energy Technologies stock opened at $45.29 on Friday. The firm’s 50-day moving average is $37.53 and its 200-day moving average is $29.77. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.01 and a current ratio of 2.19. Forum Energy Technologies, Inc. has a 1 year low of $12.78 and a 1 year high of $46.30. The company has a market cap of $515.35 million, a P/E ratio of -4.79, a PEG ratio of 3.45 and a beta of 0.59.

Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings data on Friday, October 31st. The oil and gas company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.08. Forum Energy Technologies had a negative net margin of 14.58% and a negative return on equity of 1.07%. The business had revenue of $196.23 million during the quarter, compared to the consensus estimate of $194.35 million.

Wall Street Analyst Weigh In

FET has been the topic of several recent analyst reports. Wall Street Zen cut shares of Forum Energy Technologies from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Forum Energy Technologies in a research note on Thursday, January 22nd. Finally, Zacks Research upgraded Forum Energy Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Forum Energy Technologies Profile

Forum Energy Technologies Inc is a global provider of advanced products and services to the oil and gas industry. The company’s offerings span the full lifecycle of exploration and production, including drilling, well construction, completion and production, and subsea operations. Key product lines include premium drill bits, downhole drilling motors, directional drilling tools, subsea umbilicals, and pressure control equipment, complemented by field service support and engineered solutions for complex projects.

Established through the merger of Forum Oilfield Technologies, Triton Group, Global Energy Group, and Allen International in 2010, Forum Energy Technologies has built a diversified technology portfolio designed to meet evolving industry requirements.