Barclays PLC Buys 2,137 Shares of Forum Energy Technologies, Inc. (NYSE:FET)

Barclays PLC boosted its stake in shares of Forum Energy Technologies, Inc. (NYSE:FET) by 7.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,851 shares of the oil and gas company’s stock after purchasing an additional 2,137 shares during the quarter. Barclays PLC owned about 0.24% of Forum Energy Technologies worth $462,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FET. Russell Investments Group Ltd. boosted its holdings in shares of Forum Energy Technologies by 63.7% during the 4th quarter. Russell Investments Group Ltd. now owns 2,208 shares of the oil and gas company’s stock worth $34,000 after buying an additional 859 shares during the period. Wells Fargo & Company MN lifted its position in Forum Energy Technologies by 41.7% during the 4th quarter. Wells Fargo & Company MN now owns 8,423 shares of the oil and gas company’s stock worth $130,000 after acquiring an additional 2,479 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Forum Energy Technologies by 71.7% during the third quarter. JPMorgan Chase & Co. now owns 8,845 shares of the oil and gas company’s stock valued at $137,000 after acquiring an additional 3,693 shares during the period. Trexquant Investment LP acquired a new stake in shares of Forum Energy Technologies in the fourth quarter valued at about $315,000. Finally, Diametric Capital LP bought a new position in shares of Forum Energy Technologies in the fourth quarter worth about $350,000. Institutional investors and hedge funds own 65.60% of the company’s stock.

Forum Energy Technologies Stock Up 1.6 %

FET opened at $14.68 on Friday. Forum Energy Technologies, Inc. has a 1-year low of $12.78 and a 1-year high of $21.57. The business has a 50 day moving average of $16.71 and a 200-day moving average of $16.52. The stock has a market capitalization of $181.59 million, a price-to-earnings ratio of -1.34 and a beta of 0.73. 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 (NYSE:FET) last posted its quarterly earnings results on Thursday, May 1st. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.39). The company had revenue of $193.30 million during the quarter, compared to analyst estimates of $196.45 million. Forum Energy Technologies had a negative return on equity of 2.39% and a negative net margin of 16.57%. During the same quarter in the prior year, the business earned ($0.12) earnings per share.

Insider Activity at Forum Energy Technologies

In other news, CEO Neal Lux bought 9,129 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $17.65 per share, for a total transaction of $161,126.85. Following the completion of the purchase, the chief executive officer now owns 212,250 shares of the company’s stock, valued at approximately $3,746,212.50. The trade was a 4.49 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Forum Energy Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday.

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.