Forum Energy Technologies, Inc. (NYSE:FET) Stake Raised by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its holdings in shares of Forum Energy Technologies, Inc. (NYSE:FET) by 63.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,208 shares of the oil and gas company’s stock after acquiring an additional 859 shares during the quarter. Russell Investments Group Ltd.’s holdings in Forum Energy Technologies were worth $34,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in shares of Forum Energy Technologies by 445.0% during the 4th quarter. JPMorgan Chase & Co. now owns 48,209 shares of the oil and gas company’s stock valued at $747,000 after acquiring an additional 39,364 shares in the last quarter. Diametric Capital LP purchased a new position in Forum Energy Technologies in the fourth quarter valued at about $350,000. American Century Companies Inc. increased its position in Forum Energy Technologies by 41.0% in the 4th quarter. American Century Companies Inc. now owns 71,940 shares of the oil and gas company’s stock worth $1,114,000 after purchasing an additional 20,925 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of Forum Energy Technologies during the 4th quarter worth about $315,000. Finally, Barclays PLC grew its stake in shares of Forum Energy Technologies by 86.0% in the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 65.60% of the company’s stock.

Insider Buying and Selling

In related news, CEO Neal Lux bought 9,129 shares of Forum Energy Technologies stock in a transaction on Thursday, March 13th. The shares were purchased at an average price of $17.65 per share, for a total transaction of $161,126.85. Following the completion of the acquisition, the chief executive officer now owns 212,250 shares in the company, valued at approximately $3,746,212.50. This represents a 4.49 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 6.90% of the stock is currently owned by corporate insiders.

Forum Energy Technologies Price Performance

NYSE FET opened at $14.93 on Monday. The stock has a 50-day simple moving average of $17.47 and a 200 day simple moving average of $16.57. Forum Energy Technologies, Inc. has a twelve month low of $12.78 and a twelve month high of $21.57. The stock has a market capitalization of $184.62 million, a PE ratio of -1.36 and a beta of 1.74. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.87 and a current ratio of 1.93.

Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings data 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). The company had revenue of $201.00 million for the quarter, compared to analyst estimates of $201.85 million. Forum Energy Technologies had a negative net margin of 16.57% and a negative return on equity of 2.39%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Forum Energy Technologies from a “buy” rating to a “hold” rating in a report on Thursday, March 6th.

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.