Forum Energy Technologies, Inc. (NYSE:FET) Shares Sold by Keyframe Capital Partners L.P.

Keyframe Capital Partners L.P. trimmed its stake in shares of Forum Energy Technologies, Inc. (NYSE:FET - Free Report) by 81.5% in the fourth quarter, according to the company in its most recent filing with the SEC. 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 about 27.0% of Keyframe Capital Partners L.P.'s portfolio, making the stock its 2nd biggest holding. Keyframe Capital Partners L.P. owned approximately 6.37% of Forum Energy Technologies worth $12,116,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of FET. Russell Investments Group Ltd. raised its position in 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 valued at $34,000 after purchasing an additional 859 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Forum Energy Technologies by 126.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,360 shares of the oil and gas company's stock worth $37,000 after buying an additional 1,319 shares in the last quarter. Wells Fargo & Company MN lifted 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 worth $130,000 after buying an additional 2,479 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Forum Energy Technologies by 71.7% in the third quarter. JPMorgan Chase & Co. now owns 8,845 shares of the oil and gas company's stock valued at $137,000 after buying an additional 3,693 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in Forum Energy Technologies in the fourth quarter valued at about $160,000. 65.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Forum Energy Technologies Price Performance

Shares of NYSE:FET traded down $0.12 during trading on Friday, hitting $15.02. 102,302 shares of the company were exchanged, compared to its average volume of 61,779. Forum Energy Technologies, Inc. has a 1-year low of $12.78 and a 1-year high of $21.57. The company has a market capitalization of $185.80 million, a P/E ratio of -1.37 and a beta of 1.74. The company has a quick ratio of 0.87, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The business's 50 day moving average is $17.11 and its 200-day moving average is $16.55.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.39). Forum Energy Technologies had a negative return on equity of 2.39% and a negative net margin of 16.57%. The firm had revenue of $193.30 million during the quarter, compared to analyst estimates of $196.45 million. During the same period in the previous year, the company earned ($0.12) EPS.

Insider Buying and Selling

In related news, CEO Neal Lux bought 9,129 shares of the business's stock in a transaction on Thursday, March 13th. The shares were purchased at an average cost of $17.65 per share, with a total value of $161,126.85. Following the acquisition, the chief executive officer now owns 212,250 shares of the company's stock, valued at $3,746,212.50. This represents a 4.49 % increase in their ownership of the stock. The purchase was disclosed in a 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.