Forum Energy Technologies, Inc. (NYSE:FET) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its holdings in shares of Forum Energy Technologies, Inc. (NYSE:FET) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 253,092 shares of the oil and gas company’s stock after purchasing an additional 6,355 shares during the period. Allspring Global Investments Holdings LLC owned 2.48% of Forum Energy Technologies worth $5,611,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of FET. BlackRock Inc. boosted its stake in shares of Forum Energy Technologies by 567.8% during the second quarter. BlackRock Inc. now owns 585,300 shares of the oil and gas company’s stock worth $14,978,000 after buying an additional 497,650 shares during the period. Dimensional Fund Advisors LP lifted its position in Forum Energy Technologies by 17.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 328,186 shares of the oil and gas company’s stock worth $8,398,000 after acquiring an additional 49,274 shares during the period. Vanguard Group Inc. lifted its position in Forum Energy Technologies by 37.4% during the 3rd quarter. Vanguard Group Inc. now owns 262,651 shares of the oil and gas company’s stock worth $5,579,000 after acquiring an additional 71,558 shares during the period. State Street Corp grew its stake in shares of Forum Energy Technologies by 1,259.1% in the 2nd quarter. State Street Corp now owns 237,449 shares of the oil and gas company’s stock valued at $6,076,000 after purchasing an additional 219,978 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Forum Energy Technologies in the first quarter valued at approximately $4,776,000. 65.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FET has been the topic of a number of analyst reports. StockNews.com upgraded shares of Forum Energy Technologies from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. TheStreet lowered shares of Forum Energy Technologies from a “c” rating to a “d” rating in a research note on Thursday, February 29th.

Insider Activity at Forum Energy Technologies

In related news, EVP John C. Ivascu sold 2,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $19.25, for a total transaction of $38,500.00. Following the sale, the executive vice president now owns 51,543 shares of the company’s stock, valued at $992,202.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 6.20% of the company’s stock.

Forum Energy Technologies Stock Performance

Shares of FET stock opened at $19.01 on Friday. The company has a current ratio of 2.59, a quick ratio of 1.13 and a debt-to-equity ratio of 0.31. The stock has a 50 day simple moving average of $19.20 and a 200-day simple moving average of $20.97. The company has a market cap of $233.44 million, a price-to-earnings ratio of -10.28 and a beta of 2.60. Forum Energy Technologies, Inc. has a 12-month low of $17.65 and a 12-month high of $28.73.

Forum Energy Technologies (NYSE:FET) last released its quarterly earnings data on Thursday, February 29th. The oil and gas company reported ($0.39) earnings per share (EPS) for the quarter. The business had revenue of $185.20 million during the quarter. Forum Energy Technologies had a negative return on equity of 0.38% and a negative net margin of 2.56%. On average, equities analysts forecast that Forum Energy Technologies, Inc. will post 0.13 EPS for the current year.

About Forum Energy Technologies

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.