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

Strs Ohio increased its position in Forum Energy Technologies, Inc. (NYSE:FET) by 468.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,600 shares of the oil and gas company’s stock after acquiring an additional 17,800 shares during the period. Strs Ohio’s holdings in Forum Energy Technologies were worth $577,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. New York State Teachers Retirement System bought a new position in Forum Energy Technologies in the 3rd quarter worth about $27,000. Tower Research Capital LLC TRC raised its holdings 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 valued at $41,000 after buying an additional 1,771 shares during the last quarter. Osaic Holdings Inc. acquired a new position in shares of Forum Energy Technologies during the second quarter worth approximately $78,000. Raymond James Financial Inc. bought a new position in Forum Energy Technologies in the 2nd quarter worth approximately $188,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Forum Energy Technologies in the 2nd quarter valued at approximately $208,000. 65.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FET. Wall Street Zen lowered Forum Energy Technologies from a “buy” rating to a “hold” rating in a research 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 raised shares of Forum Energy Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Forum Energy Technologies currently has a consensus rating of “Moderate Buy”.

Forum Energy Technologies Stock Up 0.4%

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

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

Forum Energy Technologies Company 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.