Geode Capital Management LLC Lowers Stake in Forum Energy Technologies, Inc. (NYSE:FET)

Geode Capital Management LLC lessened its stake in Forum Energy Technologies, Inc. (NYSE:FET) by 2.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 243,508 shares of the oil and gas company’s stock after selling 6,842 shares during the period. Geode Capital Management LLC owned 1.98% of Forum Energy Technologies worth $3,765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the company. Crossingbridge Advisors LLC acquired a new stake in Forum Energy Technologies in the 3rd quarter worth approximately $3,721,000. State Street Corp lifted its stake in shares of Forum Energy Technologies by 6.9% during the third quarter. State Street Corp now owns 198,479 shares of the oil and gas company’s stock worth $3,068,000 after buying an additional 12,785 shares during the period. Barclays PLC grew its holdings in shares of Forum Energy Technologies by 86.0% during the third quarter. Barclays PLC now owns 27,714 shares of the oil and gas company’s stock valued at $428,000 after buying an additional 12,810 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Forum Energy Technologies by 4.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 267,858 shares of the oil and gas company’s stock valued at $4,141,000 after acquiring an additional 12,449 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Forum Energy Technologies by 19.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 55,691 shares of the oil and gas company’s stock worth $939,000 after acquiring an additional 9,090 shares during the last quarter. 65.60% of the stock is currently owned by institutional investors.

Forum Energy Technologies Stock Performance

FET opened at $16.44 on Tuesday. 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, Inc. has a 12-month low of $12.83 and a 12-month high of $22.88. The firm has a 50 day moving average of $15.11 and a two-hundred day moving average of $15.88. The firm has a market capitalization of $201.95 million, a PE ratio of -3.89 and a beta of 2.40.

Insider Activity at Forum Energy Technologies

In other Forum Energy Technologies news, Director Louis Raspino sold 4,950 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $15.41, for a total value of $76,279.50. Following the sale, the director now directly owns 16,121 shares of the company’s stock, valued at approximately $248,424.61. This trade represents a 23.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.20% of the stock is currently owned by insiders.

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.