Forum Energy Technologies, Inc. $FET Position Increased by American Century Companies Inc.

American Century Companies Inc. increased its stake in Forum Energy Technologies, Inc. (NYSE:FET) by 69.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 234,735 shares of the oil and gas company’s stock after purchasing an additional 96,175 shares during the period. American Century Companies Inc. owned 1.90% of Forum Energy Technologies worth $4,570,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in FET. PenderFund Capital Management Ltd. grew its stake in shares of Forum Energy Technologies by 89.7% in the 1st quarter. PenderFund Capital Management Ltd. now owns 377,679 shares of the oil and gas company’s stock worth $7,595,000 after purchasing an additional 178,557 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Forum Energy Technologies by 204.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 161,596 shares of the oil and gas company’s stock worth $3,146,000 after buying an additional 108,490 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Forum Energy Technologies by 995.0% during the first quarter. Acadian Asset Management LLC now owns 54,498 shares of the oil and gas company’s stock worth $1,093,000 after acquiring an additional 49,521 shares in the last quarter. Nuveen LLC bought a new stake in shares of Forum Energy Technologies in the 1st quarter valued at approximately $720,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Forum Energy Technologies in the first quarter worth approximately $486,000. 65.60% of the stock is currently owned by institutional investors and hedge funds.

Forum Energy Technologies Stock Performance

NYSE FET opened at $35.19 on Monday. Forum Energy Technologies, Inc. has a 1-year low of $12.78 and a 1-year high of $36.38. The company has a 50 day moving average of $29.25 and a 200-day moving average of $24.08. The company has a current ratio of 2.19, a quick ratio of 1.01 and a debt-to-equity ratio of 0.47. The firm has a market cap of $400.41 million, a price-to-earnings ratio of -3.72, a PEG ratio of 8.31 and a beta of 0.57.

Forum Energy Technologies (NYSE:FET) last released its quarterly earnings results on Friday, October 31st. The oil and gas company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.08. Forum Energy Technologies had a negative return on equity of 1.07% and a negative net margin of 14.58%.The business had revenue of $196.23 million for the quarter, compared to analyst estimates of $194.35 million.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on FET shares. Zacks Research raised Forum Energy Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Forum Energy Technologies in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Forum Energy Technologies from a “buy” rating to a “hold” rating in a report on Saturday. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce”.

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.