Forum Energy Technologies (NYSE:FET) Upgraded at Wall Street Zen
by Sarita Garza · The Markets DailyWall Street Zen upgraded shares of Forum Energy Technologies (NYSE:FET – Free Report) from a hold rating to a buy rating in a report published on Saturday morning.
A number of other research firms also recently weighed in on FET. Weiss Ratings restated a “sell (d-)” rating on shares of Forum Energy Technologies in a research report on Thursday, January 22nd. Zacks Research upgraded shares of Forum Energy Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.
Get Our Latest Stock Analysis on FET
Forum Energy Technologies Stock Performance
Forum Energy Technologies stock opened at $58.75 on Friday. Forum Energy Technologies has a fifty-two week low of $12.78 and a fifty-two week high of $62.73. The firm’s fifty day moving average price is $42.88 and its 200-day moving average price is $33.34. The stock has a market cap of $668.55 million, a P/E ratio of -66.01, a price-to-earnings-growth ratio of 4.40 and a beta of 0.64. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.01 and a current ratio of 2.19.
Forum Energy Technologies (NYSE:FET – Get Free Report) last announced its earnings results on Thursday, February 19th. The oil and gas company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.05. Forum Energy Technologies had a negative net margin of 1.22% and a positive return on equity of 2.35%. The company had revenue of $202.20 million during the quarter, compared to analyst estimates of $190.50 million.
Hedge Funds Weigh In On Forum Energy Technologies
A number of hedge funds have recently modified their holdings of FET. American Century Companies Inc. grew its stake in shares of Forum Energy Technologies by 69.4% in the second quarter. American Century Companies Inc. now owns 234,735 shares of the oil and gas company’s stock worth $4,570,000 after purchasing an additional 96,175 shares during the last quarter. JB Capital Partners LP purchased a new stake in Forum Energy Technologies in the 2nd quarter worth approximately $1,398,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Forum Energy Technologies in the 2nd quarter worth approximately $208,000. De Lisle Partners LLP increased its stake in shares of Forum Energy Technologies by 7.4% during the second quarter. De Lisle Partners LLP now owns 217,242 shares of the oil and gas company’s stock valued at $4,235,000 after buying an additional 15,000 shares during the period. Finally, Bailard Inc. bought a new position in shares of Forum Energy Technologies during the second quarter valued at approximately $255,000. Hedge funds and other institutional investors own 65.60% of the company’s stock.
About Forum Energy Technologies
Forum Energy Technologies Inc is a global provider of advanced products and services to the oil and gas industry. The company’s offerings span the full lifecycle of exploration and production, including drilling, well construction, completion and production, and subsea operations. Key product lines include premium drill bits, downhole drilling motors, directional drilling tools, subsea umbilicals, and pressure control equipment, complemented by field service support and engineered solutions for complex projects.
Established through the merger of Forum Oilfield Technologies, Triton Group, Global Energy Group, and Allen International in 2010, Forum Energy Technologies has built a diversified technology portfolio designed to meet evolving industry requirements.