First Trust Advisors LP raised its position in Forum Energy Technologies Inc (NYSE:FET) by 337.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 207,696 shares of the oil and gas company’s stock after acquiring an additional 160,174 shares during the quarter. First Trust Advisors LP owned approximately 0.19% of Forum Energy Technologies worth $858,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in FET. Perella Weinberg Partners Capital Management LP bought a new stake in shares of Forum Energy Technologies during the 4th quarter valued at about $16,130,000. FMR LLC boosted its holdings in shares of Forum Energy Technologies by 151.0% in the third quarter. FMR LLC now owns 1,717,700 shares of the oil and gas company’s stock worth $17,778,000 after buying an additional 1,033,400 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Forum Energy Technologies by 64.0% in the third quarter. JPMorgan Chase & Co. now owns 2,160,946 shares of the oil and gas company’s stock worth $22,366,000 after buying an additional 843,553 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Forum Energy Technologies by 39.0% in the third quarter. Wells Fargo & Company MN now owns 1,407,903 shares of the oil and gas company’s stock worth $14,572,000 after buying an additional 395,260 shares during the last quarter. Finally, Citadel Advisors LLC boosted its holdings in shares of Forum Energy Technologies by 1,390.1% in the third quarter. Citadel Advisors LLC now owns 396,446 shares of the oil and gas company’s stock worth $4,103,000 after buying an additional 369,841 shares during the last quarter. 91.45% of the stock is currently owned by institutional investors and hedge funds.

FET opened at $5.09 on Thursday. The company has a current ratio of 3.23, a quick ratio of 1.21 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $582.45 million, a P/E ratio of 254.50 and a beta of 2.35. Forum Energy Technologies Inc has a 12-month low of $3.51 and a 12-month high of $16.02.

Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings results on Thursday, February 7th. The oil and gas company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.11. Forum Energy Technologies had a negative net margin of 35.15% and a positive return on equity of 0.16%. The business had revenue of $272.90 million for the quarter, compared to the consensus estimate of $257.82 million. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities research analysts predict that Forum Energy Technologies Inc will post -0.12 earnings per share for the current year.

A number of research firms recently issued reports on FET. Zacks Investment Research raised shares of Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $6.75 price objective on the stock in a report on Monday, March 18th. Citigroup raised shares of Forum Energy Technologies from a “neutral” rating to a “buy” rating in a report on Thursday, March 14th. B. Riley reissued a “neutral” rating on shares of Forum Energy Technologies in a report on Tuesday, February 19th. Gabelli reissued a “buy” rating on shares of Forum Energy Technologies in a report on Monday, February 11th. Finally, Capital One Financial downgraded shares of Forum Energy Technologies from an “overweight” rating to an “equal weight” rating in a report on Wednesday, January 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $10.93.

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Forum Energy Technologies Profile

Forum Energy Technologies, Inc designs, manufactures, and distributes products to the oil and natural gas industry in the United States and internationally. The company operates in three segments: Drilling & Subsea, Completions, and Production & Infrastructure. The Drilling & Subsea segment designs and manufactures products, and provides related services to the drilling, energy subsea construction and service markets, and other markets, such as alternative energy, defense, and communications.

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Institutional Ownership by Quarter for Forum Energy Technologies (NYSE:FET)

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