Adage Capital Partners GP L.L.C. Reduces Holdings in Forum Energy Technologies, Inc. (NYSE:FET)

Adage Capital Partners GP L.L.C. lessened its stake in shares of Forum Energy Technologies, Inc. (NYSE:FET - Free Report) by 99.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,000 shares of the oil and gas company's stock after selling 4,888,330 shares during the period. Adage Capital Partners GP L.L.C. owned 0.08% of Forum Energy Technologies worth $155,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in FET. Russell Investments Group Ltd. lifted its holdings in shares of Forum Energy Technologies by 63.7% in the 4th quarter. Russell Investments Group Ltd. now owns 2,208 shares of the oil and gas company's stock valued at $34,000 after acquiring an additional 859 shares during the last quarter. Tower Research Capital LLC TRC raised its position in 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 purchasing an additional 1,319 shares during the period. Hsbc Holdings PLC lifted its stake in shares of Forum Energy Technologies by 7.5% in the 4th quarter. Hsbc Holdings PLC now owns 26,722 shares of the oil and gas company's stock valued at $408,000 after purchasing an additional 1,862 shares during the last quarter. Barclays PLC boosted its holdings in shares of Forum Energy Technologies by 7.7% in the 4th quarter. Barclays PLC now owns 29,851 shares of the oil and gas company's stock worth $462,000 after purchasing an additional 2,137 shares during the period. Finally, Wells Fargo & Company MN increased its position in shares of Forum Energy Technologies by 41.7% during the 4th 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 last quarter. Hedge funds and other institutional investors own 65.60% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Forum Energy Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th.

Insiders Place Their Bets

In related news, CEO Neal Lux bought 9,129 shares of Forum Energy Technologies stock in a transaction dated Thursday, March 13th. The shares were acquired at an average cost of $17.65 per share, with a total value of $161,126.85. Following the completion of the transaction, the chief executive officer now owns 212,250 shares in the company, valued at $3,746,212.50. The trade was a 4.49 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 6.90% of the company's stock.

Forum Energy Technologies Trading Up 2.8 %

Shares of FET stock traded up $0.39 during trading hours on Tuesday, reaching $14.21. 10,965 shares of the stock were exchanged, compared to its average volume of 61,575. The firm has a market capitalization of $175.78 million, a price-to-earnings ratio of -1.30 and a beta of 1.74. Forum Energy Technologies, Inc. has a 12-month low of $12.78 and a 12-month high of $21.57. The company's 50-day moving average price is $17.02 and its 200-day moving average price is $16.56. The company has a current ratio of 1.93, a quick ratio of 0.87 and a debt-to-equity ratio of 0.37.

Forum Energy Technologies (NYSE:FET - Get Free Report) last released its earnings results on Thursday, May 1st. The oil and gas company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.39). Forum Energy Technologies had a negative net margin of 16.57% and a negative return on equity of 2.39%. The business had revenue of $193.30 million for the quarter, compared to the consensus estimate of $196.45 million. During the same period in the prior year, the company posted ($0.12) EPS.

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.