Keyframe Capital Partners L.P. Sells 3,439,120 Shares of Forum Energy Technologies, Inc. (NYSE:FET)

Keyframe Capital Partners L.P. reduced its position in shares of Forum Energy Technologies, Inc. (NYSE:FET) by 81.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 782,197 shares of the oil and gas company’s stock after selling 3,439,120 shares during the quarter. Forum Energy Technologies comprises 27.0% of Keyframe Capital Partners L.P.’s holdings, making the stock its 2nd biggest position. Keyframe Capital Partners L.P. owned 6.37% of Forum Energy Technologies worth $12,116,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its stake in Forum Energy Technologies by 3.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 507,263 shares of the oil and gas company’s stock valued at $7,857,000 after acquiring an additional 18,236 shares in the last quarter. Tejara Capital Ltd increased its position in shares of Forum Energy Technologies by 5.4% during the 4th quarter. Tejara Capital Ltd now owns 230,545 shares of the oil and gas company’s stock worth $3,571,000 after purchasing an additional 11,736 shares during the last quarter. State Street Corp grew its stake in shares of Forum Energy Technologies by 6.9% in the third quarter. State Street Corp now owns 198,479 shares of the oil and gas company’s stock valued at $3,068,000 after buying an additional 12,785 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Forum Energy Technologies by 5.8% in the 4th quarter. Northern Trust Corp now owns 105,301 shares of the oil and gas company’s stock valued at $1,631,000 after purchasing an additional 5,807 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of Forum Energy Technologies by 20.4% during the 4th quarter. Renaissance Technologies LLC now owns 105,075 shares of the oil and gas company’s stock worth $1,628,000 after acquiring an additional 17,775 shares during the period. Institutional investors and hedge funds own 65.60% of the company’s stock.

Forum Energy Technologies Trading Up 1.1 %

Shares of FET stock opened at $15.08 on Tuesday. The company has a market cap of $186.54 million, a PE ratio of -1.37 and a beta of 1.74. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.87 and a current ratio of 1.93. The stock’s fifty day moving average price is $17.39 and its two-hundred day moving average price is $16.57. Forum Energy Technologies, Inc. has a fifty-two week low of $12.78 and a fifty-two week high of $21.57.

Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings results on Thursday, February 20th. The oil and gas company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.58). The business had revenue of $201.00 million during the quarter, compared to analyst estimates of $201.85 million. Forum Energy Technologies had a negative net margin of 16.57% and a negative return on equity of 2.39%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Forum Energy Technologies news, CEO Neal Lux acquired 9,129 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were bought at an average cost of $17.65 per share, with a total value of $161,126.85. Following the purchase, the chief executive officer now directly owns 212,250 shares of the company’s stock, valued at $3,746,212.50. This trade represents a 4.49 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.90% of the stock is owned by corporate insiders.

Forum Energy Technologies Company 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.