22,619 Shares in Forum Energy Technologies, Inc. (NYSE:FET) Purchased by Diametric Capital LP

Diametric Capital LP acquired a new stake in Forum Energy Technologies, Inc. (NYSE:FET) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 22,619 shares of the oil and gas company’s stock, valued at approximately $350,000. Diametric Capital LP owned about 0.18% of Forum Energy Technologies at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of FET. JPMorgan Chase & Co. grew its holdings in Forum Energy Technologies by 71.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,845 shares of the oil and gas company’s stock valued at $137,000 after buying an additional 3,693 shares in the last quarter. Barclays PLC grew its holdings in shares of Forum Energy Technologies by 86.0% in the third quarter. Barclays PLC now owns 27,714 shares of the oil and gas company’s stock valued at $428,000 after purchasing an additional 12,810 shares during the period. American Century Companies Inc. increased its position in Forum Energy Technologies by 41.0% during the fourth 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. Monaco Asset Management SAM raised its stake in Forum Energy Technologies by 9.8% during the fourth quarter. Monaco Asset Management SAM now owns 75,118 shares of the oil and gas company’s stock worth $1,164,000 after purchasing an additional 6,709 shares during the period. Finally, State Street Corp raised its stake in Forum Energy Technologies by 6.9% during the third quarter. State Street Corp now owns 198,479 shares of the oil and gas company’s stock worth $3,068,000 after purchasing an additional 12,785 shares during the period. 65.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Forum Energy Technologies

In other news, CEO Neal Lux purchased 9,129 shares of the stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $17.65 per share, for a total transaction of $161,126.85. Following the completion of the transaction, the chief executive officer now directly owns 212,250 shares in the company, valued at approximately $3,746,212.50. This represents a 4.49 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 6.20% of the company’s stock.

Forum Energy Technologies Price Performance

FET stock opened at $20.69 on Wednesday. Forum Energy Technologies, Inc. has a 52-week low of $12.83 and a 52-week high of $21.57. The company has a quick ratio of 0.87, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The stock has a market cap of $254.62 million, a price-to-earnings ratio of -1.88 and a beta of 2.33. The business has a fifty day moving average of $18.71 and a two-hundred day moving average of $16.70.

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

Analyst Ratings Changes

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

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.