Forum Energy Technologies (NYSE:FET – Get Free Report) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.
Separately, TheStreet cut shares of Forum Energy Technologies from a “c” rating to a “d” rating in a report on Thursday, February 29th.
Check Out Our Latest Report on FET
Forum Energy Technologies Trading Down 1.1 %
Forum Energy Technologies (NYSE:FET – Get Free Report) last posted its quarterly earnings data on Thursday, February 29th. The oil and gas company reported ($0.39) earnings per share for the quarter. Forum Energy Technologies had a negative return on equity of 0.38% and a negative net margin of 2.56%. The firm had revenue of $185.20 million for the quarter. Research analysts predict that Forum Energy Technologies will post 0.13 EPS for the current year.
Insider Activity
In other news, EVP John C. Ivascu sold 2,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $19.25, for a total transaction of $38,500.00. Following the transaction, the executive vice president now directly owns 51,543 shares in the company, valued at approximately $992,202.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 6.20% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Forum Energy Technologies
Several institutional investors and hedge funds have recently modified their holdings of FET. UBS Group AG lifted its stake in shares of Forum Energy Technologies by 3,606.1% in the 1st quarter. UBS Group AG now owns 1,223 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 1,190 shares during the last quarter. California State Teachers Retirement System acquired a new stake in shares of Forum Energy Technologies in the 2nd quarter valued at $84,000. SG Americas Securities LLC acquired a new stake in shares of Forum Energy Technologies in the 3rd quarter valued at $114,000. MetLife Investment Management LLC acquired a new stake in shares of Forum Energy Technologies in the 2nd quarter valued at $133,000. Finally, Barclays PLC lifted its stake in shares of Forum Energy Technologies by 91.8% in the 3rd quarter. Barclays PLC now owns 6,988 shares of the oil and gas company’s stock valued at $168,000 after purchasing an additional 3,344 shares during the last quarter. Institutional investors and hedge funds own 65.60% of the company’s stock.
Forum Energy Technologies Company Profile
Forum Energy Technologies, Inc designs, manufactures, and distributes products serving the oil, natural gas, industrial, and renewable energy industries in the United States and internationally. It operates through three segments: Drilling & Downhole, Completions, and Production. The Drilling & Downhole segment designs, manufactures, and supplies products, and provides related services to the drilling, well construction, artificial lift, and subsea energy construction and services markets, including applications in oil and natural gas, renewable energy, defense, and communications.
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