Metropolitan Life Insurance Co. NY Decreases Stake in Forum Energy Technologies (FET)

Metropolitan Life Insurance Co. NY reduced its holdings in Forum Energy Technologies (NYSE:FET) by 48.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,424 shares of the oil and gas company’s stock after selling 23,656 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Forum Energy Technologies were worth $395,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the company. TIAA CREF Investment Management LLC lifted its stake in shares of Forum Energy Technologies by 3.0% in the fourth quarter. TIAA CREF Investment Management LLC now owns 265,474 shares of the oil and gas company’s stock worth $4,128,000 after buying an additional 7,688 shares in the last quarter. Teachers Advisors LLC lifted its stake in shares of Forum Energy Technologies by 10.4% in the fourth quarter. Teachers Advisors LLC now owns 190,787 shares of the oil and gas company’s stock worth $2,967,000 after buying an additional 17,952 shares in the last quarter. Paloma Partners Management Co lifted its stake in shares of Forum Energy Technologies by 6.5% in the fourth quarter. Paloma Partners Management Co now owns 84,079 shares of the oil and gas company’s stock worth $1,308,000 after buying an additional 5,118 shares in the last quarter. California State Teachers Retirement System lifted its stake in shares of Forum Energy Technologies by 15.5% in the fourth quarter. California State Teachers Retirement System now owns 127,099 shares of the oil and gas company’s stock worth $1,976,000 after buying an additional 17,044 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new position in shares of Forum Energy Technologies in the fourth quarter worth about $163,000. 94.25% of the stock is currently owned by hedge funds and other institutional investors.

How to Become a New Pot Stock Millionaire

In related news, CEO Prady Iyyanki purchased 90,000 shares of the company’s stock in a transaction on Friday, March 2nd. The stock was acquired at an average cost of $10.63 per share, for a total transaction of $956,700.00. Following the completion of the transaction, the chief executive officer now directly owns 443,417 shares in the company, valued at $4,713,522.71. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 30.00% of the stock is owned by company insiders.

FET has been the topic of several research reports. Jefferies Group set a $17.00 price target on shares of Forum Energy Technologies and gave the stock a “hold” rating in a research note on Thursday, January 4th. Zacks Investment Research raised shares of Forum Energy Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, March 20th. Piper Jaffray set a $13.00 price target on shares of Forum Energy Technologies and gave the stock a “hold” rating in a research note on Sunday, April 8th. Cowen reissued a “market perform” rating and issued a $10.00 price target (down from $13.00) on shares of Forum Energy Technologies in a research note on Monday, February 12th. Finally, TheStreet upgraded shares of Forum Energy Technologies from a “d+” rating to a “c-” rating in a research report on Friday, February 9th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $15.79.

Forum Energy Technologies stock opened at $12.05 on Tuesday. Forum Energy Technologies has a 12-month low of $10.05 and a 12-month high of $20.23. The stock has a market cap of $1,335.04, a P/E ratio of -31.71 and a beta of 1.90. The company has a quick ratio of 1.61, a current ratio of 3.65 and a debt-to-equity ratio of 0.36.

Forum Energy Technologies (NYSE:FET) last released its quarterly earnings data on Thursday, February 8th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.01). Forum Energy Technologies had a negative return on equity of 2.98% and a negative net margin of 6.99%. The firm had revenue of $247.70 million for the quarter, compared to analyst estimates of $249.85 million. During the same quarter in the previous year, the business posted ($0.16) earnings per share. Forum Energy Technologies’s revenue for the quarter was up 68.4% on a year-over-year basis. equities research analysts predict that Forum Energy Technologies will post 0.01 earnings per share for the current year.

WARNING: “Metropolitan Life Insurance Co. NY Decreases Stake in Forum Energy Technologies (FET)” was published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. and international trademark and copyright law. The correct version of this news story can be accessed at https://www.dispatchtribunal.com/2018/04/17/metropolitan-life-insurance-co-ny-decreases-stake-in-forum-energy-technologies-fet.html.

About Forum Energy Technologies

Forum Energy Technologies, Inc designs, manufactures, and distributes products to the oil and natural gas industry in the United States and internationally. The company operates in three segments: Drilling & Subsea, Completions, and Production & Infrastructure. The Drilling & Subsea segment designs and manufactures products, and provides related services to the drilling, energy subsea construction and service markets, and other markets, such as alternative energy, defense, and communications.

Want to see what other hedge funds are holding FET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Forum Energy Technologies (NYSE:FET).

Institutional Ownership by Quarter for Forum Energy Technologies (NYSE:FET)

Receive News & Ratings for Forum Energy Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forum Energy Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply