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

Allspring Global Investments Holdings LLC grew its holdings in shares of Forum Energy Technologies, Inc. (NYSE:FET) by 0.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 253,898 shares of the oil and gas company’s stock after purchasing an additional 806 shares during the period. Allspring Global Investments Holdings LLC owned approximately 2.07% of Forum Energy Technologies worth $5,073,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FET. SG Americas Securities LLC grew its holdings in shares of Forum Energy Technologies by 12.3% in the 4th quarter. SG Americas Securities LLC now owns 5,311 shares of the oil and gas company’s stock worth $118,000 after acquiring an additional 581 shares during the period. Panagora Asset Management Inc. grew its holdings in shares of Forum Energy Technologies by 20.4% in the 4th quarter. Panagora Asset Management Inc. now owns 18,795 shares of the oil and gas company’s stock worth $417,000 after acquiring an additional 3,186 shares during the period. Barclays PLC grew its holdings in shares of 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 worth $168,000 after acquiring an additional 3,344 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Forum Energy Technologies by 71.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,217 shares of the oil and gas company’s stock worth $438,000 after acquiring an additional 7,599 shares during the period. Finally, Pickering Energy Partners LP acquired a new stake in shares of Forum Energy Technologies in the 4th quarter worth approximately $279,000. Institutional investors and hedge funds own 65.60% of the company’s stock.

Forum Energy Technologies Trading Down 0.7 %

Shares of FET traded down $0.12 on Tuesday, reaching $16.40. The stock had a trading volume of 1,416 shares, compared to its average volume of 34,518. Forum Energy Technologies, Inc. has a twelve month low of $16.10 and a twelve month high of $28.73. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.26 and a current ratio of 2.83. The firm has a 50-day moving average of $17.95 and a 200 day moving average of $19.34.

Forum Energy Technologies (NYSE:FET) last posted its earnings results on Thursday, May 2nd. The oil and gas company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.69. Forum Energy Technologies had a negative return on equity of 0.94% and a negative net margin of 3.42%. The firm had revenue of $202.40 million for the quarter, compared to analyst estimates of $211.60 million.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Forum Energy Technologies from a “buy” rating to a “hold” rating in a report on Monday, May 6th.

Forum Energy Technologies 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.