De Lisle Partners LLP Sells 6,981 Shares of Forum Energy Technologies, Inc. (NYSE:FET)

De Lisle Partners LLP lessened its holdings in Forum Energy Technologies, Inc. (NYSE:FET) by 3.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 202,242 shares of the oil and gas company’s stock after selling 6,981 shares during the period. De Lisle Partners LLP owned approximately 1.63% of Forum Energy Technologies worth $4,074,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of FET. GAMMA Investing LLC grew its stake in shares of Forum Energy Technologies by 1,911.1% during the first quarter. GAMMA Investing LLC now owns 2,172 shares of the oil and gas company’s stock valued at $44,000 after buying an additional 2,064 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Forum Energy Technologies by 63.7% during the fourth quarter. Russell Investments Group Ltd. now owns 2,208 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 859 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Forum Energy Technologies by 126.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,360 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 1,319 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Forum Energy Technologies by 41.7% in the fourth quarter. Wells Fargo & Company MN now owns 8,423 shares of the oil and gas company’s stock valued at $130,000 after purchasing an additional 2,479 shares during the period. Finally, Victory Capital Management Inc. bought a new position in Forum Energy Technologies in the first quarter worth approximately $206,000. Hedge funds and other institutional investors own 65.60% of the company’s stock.

Forum Energy Technologies Stock Performance

Shares of Forum Energy Technologies stock opened at $20.58 on Tuesday. Forum Energy Technologies, Inc. has a 12 month low of $12.78 and a 12 month high of $21.57. The stock’s fifty day moving average price is $18.29 and its 200-day moving average price is $17.67. The firm has a market cap of $254.57 million, a P/E ratio of -2.05, a P/E/G ratio of 2.24 and a beta of 0.84. The company has a current ratio of 2.46, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53.

Forum Energy Technologies (NYSE:FET) last posted its quarterly earnings results on Thursday, May 1st. The oil and gas company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.39). Forum Energy Technologies had a negative net margin of 15.35% and a negative return on equity of 2.26%. The business had revenue of $193.30 million during the quarter, compared to the consensus estimate of $196.45 million. During the same quarter in the prior year, the firm posted ($0.12) EPS.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Forum Energy Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, May 6th.

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.