American Century Companies Inc. Raises Position in Forum Energy Technologies, Inc. (NYSE:FET)

American Century Companies Inc. grew its holdings in shares of Forum Energy Technologies, Inc. (NYSE:FET) by 41.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,940 shares of the oil and gas company’s stock after acquiring an additional 20,925 shares during the period. American Century Companies Inc. owned about 0.59% of Forum Energy Technologies worth $1,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Tejara Capital Ltd grew its holdings in Forum Energy Technologies by 5.4% during the fourth quarter. Tejara Capital Ltd now owns 230,545 shares of the oil and gas company’s stock valued at $3,571,000 after purchasing an additional 11,736 shares during the period. State Street Corp grew its stake in shares of Forum Energy Technologies by 6.9% during the 3rd quarter. State Street Corp now owns 198,479 shares of the oil and gas company’s stock valued at $3,068,000 after acquiring an additional 12,785 shares during the period. Monaco Asset Management SAM raised its stake in Forum Energy Technologies by 9.8% during the 4th quarter. Monaco Asset Management SAM now owns 75,118 shares of the oil and gas company’s stock worth $1,164,000 after acquiring an additional 6,709 shares during the period. Barclays PLC lifted its holdings in 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 purchasing an additional 12,810 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of 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 worth $137,000 after purchasing an additional 3,693 shares during the period. 65.60% of the stock is currently owned by hedge funds and other institutional investors.

Forum Energy Technologies Price Performance

Shares of Forum Energy Technologies stock opened at $14.04 on Friday. The company has a market capitalization of $173.66 million, a price-to-earnings ratio of -1.28 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 stock’s 50-day simple moving average is $18.24 and its 200-day simple moving average is $16.65. Forum Energy Technologies, Inc. has a 52 week low of $12.78 and a 52 week high of $21.57.

Forum Energy Technologies (NYSE:FET) last posted its quarterly earnings results on Thursday, February 20th. The oil and gas company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.58). Forum Energy Technologies had a negative return on equity of 2.39% and a negative net margin of 16.57%. The business had revenue of $201.00 million during the quarter, compared to analysts’ expectations of $201.85 million.

Insider Activity at Forum Energy Technologies

In other news, CEO Neal Lux bought 9,129 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average cost of $17.65 per share, for a total transaction of $161,126.85. Following the completion of the transaction, the chief executive officer now owns 212,250 shares of the company’s stock, valued at approximately $3,746,212.50. This represents a 4.49 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Forum Energy Technologies from a “buy” rating to a “hold” rating in a research note 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.