Charles Schwab Investment Management Inc. Increases Holdings in Forum Energy Technologies, Inc. $FET

Charles Schwab Investment Management Inc. grew its holdings in Forum Energy Technologies, Inc. (NYSE:FET) by 4.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,342 shares of the oil and gas company’s stock after acquiring an additional 1,480 shares during the period. Charles Schwab Investment Management Inc. owned about 0.27% of Forum Energy Technologies worth $671,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its position in shares of Forum Energy Technologies by 3.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 278,331 shares of the oil and gas company’s stock valued at $5,770,000 after acquiring an additional 10,066 shares in the last quarter. Two Sigma Investments LP grew its stake in Forum Energy Technologies by 146.0% during the fourth quarter. Two Sigma Investments LP now owns 37,493 shares of the oil and gas company’s stock valued at $581,000 after acquiring an additional 22,249 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in Forum Energy Technologies during the fourth quarter valued at $269,000. GAMMA Investing LLC grew its stake in Forum Energy Technologies by 1,911.1% during the first quarter. GAMMA Investing LLC now owns 2,172 shares of the oil and gas company’s stock valued at $44,000 after acquiring an additional 2,064 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Forum Energy Technologies by 57.3% during the fourth quarter. Bank of America Corp DE now owns 103,605 shares of the oil and gas company’s stock valued at $1,605,000 after acquiring an additional 37,744 shares in the last quarter. 65.60% of the stock is currently owned by hedge funds and other institutional investors.

Forum Energy Technologies Price Performance

Forum Energy Technologies stock opened at $26.26 on Wednesday. The firm has a 50-day moving average price of $21.26 and a 200-day moving average price of $18.44. The firm has a market capitalization of $312.49 million, a PE ratio of -2.95, a price-to-earnings-growth ratio of 5.65 and a beta of 0.89. The company has a current ratio of 2.41, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47. Forum Energy Technologies, Inc. has a 12-month low of $12.78 and a 12-month high of $26.70.

Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings results on Thursday, August 7th. The oil and gas company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.25). Forum Energy Technologies had a negative return on equity of 2.51% and a negative net margin of 13.65%.The business had revenue of $199.80 million during the quarter, compared to analysts’ expectations of $190.50 million.

Analysts Set New Price Targets

Several equities analysts recently weighed in on FET shares. Zacks Research cut shares of Forum Energy Technologies from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 13th. Wall Street Zen upgraded Forum Energy Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, May 6th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Forum Energy Technologies currently has an average rating of “Sell”.

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.