Forum Energy Technologies (NYSE:FET) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Forum Energy Technologies (NYSE:FETFree Report) from a hold rating to a buy rating in a research report report published on Wednesday morning.

Forum Energy Technologies Trading Down 3.4 %

Shares of FET opened at $19.71 on Wednesday. The company has a current ratio of 2.55, a quick ratio of 1.10 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $200.84 million, a P/E ratio of -8.11 and a beta of 2.65. The stock’s fifty day simple moving average is $21.63 and its 200 day simple moving average is $23.16. Forum Energy Technologies has a twelve month low of $19.20 and a twelve month high of $33.84.

Forum Energy Technologies (NYSE:FETGet Free Report) last announced its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter. Forum Energy Technologies had a negative return on equity of 0.05% and a negative net margin of 2.00%. The firm had revenue of $179.30 million during the quarter.

Insider Activity at Forum Energy Technologies

In related news, CEO C Christopher Gaut sold 1,449 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $22.04, for a total value of $31,935.96. Following the completion of the sale, the chief executive officer now directly owns 260,243 shares in the company, valued at approximately $5,735,755.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 11.00% of the stock is owned by insiders.

Institutional Trading of Forum Energy Technologies

Several large investors have recently added to or reduced their stakes in FET. Northern Trust Corp grew its stake in shares of Forum Energy Technologies by 0.7% during the third quarter. Northern Trust Corp now owns 80,870 shares of the oil and gas company’s stock valued at $1,942,000 after acquiring an additional 568 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Forum Energy Technologies by 12.3% during the fourth quarter. SG Americas Securities LLC now owns 5,311 shares of the oil and gas company’s stock valued at $118,000 after acquiring an additional 581 shares in the last quarter. Quilter Plc acquired a new stake in shares of Forum Energy Technologies during the first quarter valued at about $834,120,000. State Street Corp grew its stake in shares of Forum Energy Technologies by 6.8% during the first quarter. State Street Corp now owns 15,996 shares of the oil and gas company’s stock valued at $366,000 after acquiring an additional 1,022 shares in the last quarter. Finally, UBS Group AG grew its stake in shares of Forum Energy Technologies by 3,606.1% during the first quarter. UBS Group AG now owns 1,223 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 1,190 shares in the last quarter. 63.03% of the stock is currently owned by institutional investors and hedge funds.

About Forum Energy Technologies

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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 markets, including applications in oil and natural gas, renewable energy, defense, and communications.

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