Caxton Associates LLP Makes New $732,000 Investment in Forum Energy Technologies, Inc. $FET

Caxton Associates LLP purchased a new position in shares of Forum Energy Technologies, Inc. (NYSE:FET) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 12,480 shares of the oil and gas company’s stock, valued at approximately $732,000. Caxton Associates LLP owned about 0.11% of Forum Energy Technologies as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of FET. Keyframe Capital Partners L.P. raised its position in shares of Forum Energy Technologies by 8.5% in the 2nd quarter. Keyframe Capital Partners L.P. now owns 848,519 shares of the oil and gas company’s stock valued at $16,521,000 after purchasing an additional 66,322 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Forum Energy Technologies by 5.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 626,938 shares of the oil and gas company’s stock worth $36,775,000 after purchasing an additional 33,802 shares during the last quarter. IES Holdings Inc. purchased a new stake in Forum Energy Technologies during the 4th quarter worth approximately $20,107,000. JPMorgan Chase & Co. increased its stake in Forum Energy Technologies by 62.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 262,316 shares of the oil and gas company’s stock valued at $7,006,000 after purchasing an additional 100,720 shares in the last quarter. Finally, State Street Corp increased its stake in Forum Energy Technologies by 5.3% during the 4th quarter. State Street Corp now owns 243,682 shares of the oil and gas company’s stock valued at $9,004,000 after purchasing an additional 12,257 shares in the last quarter. Institutional investors and hedge funds own 65.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on FET. Wall Street Zen downgraded shares of Forum Energy Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Zacks Research downgraded Forum Energy Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Forum Energy Technologies in a research note on Friday, July 17th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce”.

Forum Energy Technologies Price Performance

Shares of NYSE:FET opened at $57.91 on Monday. Forum Energy Technologies, Inc. has a twelve month low of $18.12 and a twelve month high of $65.43. The company has a current ratio of 2.23, a quick ratio of 1.09 and a debt-to-equity ratio of 0.54. The company has a market cap of $654.44 million, a PE ratio of -98.16, a price-to-earnings-growth ratio of 3.35 and a beta of 0.54. The company’s 50 day moving average is $52.23 and its 200 day moving average is $53.12.

Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.44 by $0.03. The business had revenue of $208.70 million during the quarter, compared to analysts’ expectations of $201.30 million. Forum Energy Technologies had a negative net margin of 0.78% and a positive return on equity of 4.15%. On average, sell-side analysts forecast that Forum Energy Technologies, Inc. will post 2.16 EPS for the current year.

Insider Activity

In related news, SVP Michael Dewayne Danford sold 3,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $55.49, for a total transaction of $166,470.00. Following the completion of the transaction, the senior vice president directly owned 54,139 shares in the company, valued at $3,004,173.11. The trade was a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.70% of the stock is currently owned by company insiders.

Forum Energy Technologies Company Profile

Forum Energy Technologies Inc is a global provider of advanced products and services to the oil and gas industry. The company’s offerings span the full lifecycle of exploration and production, including drilling, well construction, completion and production, and subsea operations. Key product lines include premium drill bits, downhole drilling motors, directional drilling tools, subsea umbilicals, and pressure control equipment, complemented by field service support and engineered solutions for complex projects.

Established through the merger of Forum Oilfield Technologies, Triton Group, Global Energy Group, and Allen International in 2010, Forum Energy Technologies has built a diversified technology portfolio designed to meet evolving industry requirements.