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 issued on Friday.
Separately, TheStreet lowered shares of Forum Energy Technologies from a “c” rating to a “d” rating in a research note on Thursday, February 29th.
Get Our Latest Analysis on Forum Energy Technologies
Forum Energy Technologies Stock Down 1.0 %
Forum Energy Technologies (NYSE:FET – Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The oil and gas company reported ($0.39) EPS for the quarter. The firm had revenue of $185.20 million during the quarter. Forum Energy Technologies had a negative net margin of 2.56% and a negative return on equity of 0.38%. As a group, research analysts expect that Forum Energy Technologies will post 0.13 earnings per share for the current year.
Insider Buying and Selling at Forum Energy Technologies
In other Forum Energy Technologies news, EVP John C. Ivascu sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $19.25, for a total value of $38,500.00. Following the transaction, the executive vice president now owns 51,543 shares in the company, valued at approximately $992,202.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 6.20% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. UBS Group AG grew its stake in 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 buying an additional 1,190 shares during the last quarter. California State Teachers Retirement System acquired a new position in Forum Energy Technologies in the 2nd quarter valued at $84,000. SG Americas Securities LLC acquired a new position in Forum Energy Technologies in the 3rd quarter valued at $114,000. MetLife Investment Management LLC acquired a new position in Forum Energy Technologies in the 2nd quarter valued at $133,000. Finally, Barclays PLC grew its stake in 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 buying 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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