Forum Energy Technologies, Inc. (NYSE:FET) CEO Buys $161,126.85 in Stock

Forum Energy Technologies, Inc. (NYSE:FET) CEO Neal Lux purchased 9,129 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were acquired at an average cost 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 of the company’s stock, valued at approximately $3,746,212.50. This trade represents a 4.49 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Forum Energy Technologies Trading Up 6.0 %

Forum Energy Technologies stock opened at $21.04 on Thursday. Forum Energy Technologies, Inc. has a 1 year low of $12.83 and a 1 year high of $21.81. The firm’s 50 day moving average price is $18.32 and its 200-day moving average price is $16.41. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 0.87. The stock has a market cap of $259.79 million, a P/E ratio of -1.92 and a beta of 2.33.

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

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Forum Energy Technologies

A number of hedge funds have recently made changes to their positions in FET. Russell Investments Group Ltd. grew its holdings in 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 valued at $34,000 after buying an additional 859 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Forum Energy Technologies by 126.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,360 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 1,319 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Forum Energy Technologies by 41.7% in the fourth quarter. Wells Fargo & Company MN now owns 8,423 shares of the oil and gas company’s stock valued at $130,000 after purchasing an additional 2,479 shares in the last quarter. JPMorgan Chase & Co. increased its position in 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 last quarter. Finally, XTX Topco Ltd purchased a new stake in Forum Energy Technologies during the fourth quarter valued at $160,000. 65.60% of the stock is currently owned by hedge funds and other institutional investors.

Forum Energy Technologies Company 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.