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

Keyframe Capital Partners L.P. decreased its holdings in shares of Forum Energy Technologies, Inc. (NYSE:FET - Free Report) by 81.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 approximately 27.0% of Keyframe Capital Partners L.P.'s holdings, making the stock its 2nd largest position. Keyframe Capital Partners L.P. owned about 6.37% of Forum Energy Technologies worth $12,116,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its holdings in shares of Forum Energy Technologies by 63.7% during the 4th quarter. Russell Investments Group Ltd. now owns 2,208 shares of the oil and gas company's stock worth $34,000 after purchasing an additional 859 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Forum Energy Technologies by 126.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,360 shares of the oil and gas company's stock valued at $37,000 after buying an additional 1,319 shares during the period. Hsbc Holdings PLC raised 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 buying an additional 1,862 shares in the last quarter. Barclays PLC lifted its holdings in shares of Forum Energy Technologies by 7.7% during the 4th quarter. Barclays PLC now owns 29,851 shares of the oil and gas company's stock worth $462,000 after acquiring an additional 2,137 shares during the period. Finally, Wells Fargo & Company MN boosted 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 acquiring an additional 2,479 shares in the last quarter. Institutional investors and hedge funds own 65.60% of the company's stock.

Insider Buying and Selling

In related news, CEO Neal Lux acquired 9,129 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were purchased at an average price of $17.65 per share, with a total value of $161,126.85. Following the acquisition, the chief executive officer now directly owns 212,250 shares in the company, valued at $3,746,212.50. The trade was a 4.49 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 6.90% of the stock is owned by corporate insiders.

Forum Energy Technologies Price Performance

Shares of Forum Energy Technologies stock traded down $0.12 during midday trading on Friday, hitting $15.02. 102,302 shares of the company were exchanged, compared to its average volume of 61,636. The firm has a 50 day simple moving average of $17.18 and a 200-day simple moving average of $16.55. Forum Energy Technologies, Inc. has a 52 week low of $12.78 and a 52 week high of $21.57. The firm has a market cap of $185.80 million, a P/E ratio of -1.37 and a beta of 1.74. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 0.87.

Forum Energy Technologies (NYSE:FET - Get Free Report) last issued its 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). The firm had revenue of $193.30 million during the quarter, compared to analyst estimates of $196.45 million. Forum Energy Technologies had a negative net margin of 16.57% and a negative return on equity of 2.39%. During the same quarter in the prior year, the firm posted ($0.12) EPS.

Analyst Ratings Changes

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