MetLife Investment Advisors LLC lifted its stake in Forum Energy Technologies Inc (NYSE:FET) by 52.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 58,739 shares of the oil and gas company’s stock after purchasing an additional 20,170 shares during the quarter. MetLife Investment Advisors LLC owned about 0.05% of Forum Energy Technologies worth $608,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Bank of Montreal Can increased its position in Forum Energy Technologies by 19.3% during the 3rd quarter. Bank of Montreal Can now owns 39,393 shares of the oil and gas company’s stock valued at $408,000 after buying an additional 6,383 shares in the last quarter. Jefferies Group LLC acquired a new position in shares of Forum Energy Technologies in the third quarter valued at about $112,000. TCW Group Inc. increased its holdings in shares of Forum Energy Technologies by 17.6% in the third quarter. TCW Group Inc. now owns 115,497 shares of the oil and gas company’s stock valued at $1,196,000 after purchasing an additional 17,247 shares during the period. Quantbot Technologies LP acquired a new position in shares of Forum Energy Technologies in the third quarter valued at about $241,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Forum Energy Technologies in the second quarter worth about $323,000. Institutional investors own 93.07% of the company’s stock.
FET traded up $1.04 during trading on Friday, reaching $5.84. The company’s stock had a trading volume of 4,112,100 shares, compared to its average volume of 960,711. Forum Energy Technologies Inc has a 52-week low of $3.51 and a 52-week high of $16.02. The firm has a market capitalization of $637.54 million, a PE ratio of 292.00 and a beta of 2.28. The company has a current ratio of 3.47, a quick ratio of 1.25 and a debt-to-equity ratio of 0.33.
Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings data on Thursday, February 7th. The oil and gas company reported $0.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.11. The company had revenue of $272.90 million for the quarter, compared to analyst estimates of $257.82 million. Forum Energy Technologies had a positive return on equity of 0.15% and a negative net margin of 35.15%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.04) EPS. On average, sell-side analysts predict that Forum Energy Technologies Inc will post -0.02 EPS for the current year.
Several research firms have recently commented on FET. Capital One Financial lowered Forum Energy Technologies from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, January 16th. TheStreet downgraded Forum Energy Technologies from a “c-” rating to a “d+” rating in a report on Thursday, December 27th. Bank of America assumed coverage on Forum Energy Technologies in a report on Monday, December 3rd. They set a “neutral” rating and a $7.00 price target for the company. Citigroup decreased their price target on Forum Energy Technologies from $10.00 to $8.00 and set a “hold” rating for the company in a report on Monday, November 19th. Finally, Morgan Stanley set a $12.00 price target on Forum Energy Technologies and gave the stock a “hold” rating in a report on Tuesday, November 6th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $12.18.
TRADEMARK VIOLATION NOTICE: This article was posted by Fairfield Current and is the property of of Fairfield Current. If you are reading this article on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The original version of this article can be viewed at https://www.fairfieldcurrent.com/news/2019/02/10/metlife-investment-advisors-llc-raises-position-in-forum-energy-technologies-inc-fet.html.
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.
See Also: What is the Coverage Ratio?
Receive News & Ratings for Forum Energy Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forum Energy Technologies and related companies with MarketBeat.com's FREE daily email newsletter.