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

Forum Energy Technologies, Inc. (NYSE:FET) CEO Neal Lux bought 9,129 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were bought at an average price of $17.65 per share, with a total value of $161,126.85. Following the purchase, the chief executive officer now owns 212,250 shares in the company, valued at $3,746,212.50. The trade was a 4.49 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Forum Energy Technologies Stock Performance

Shares of NYSE FET opened at $19.83 on Wednesday. Forum Energy Technologies, Inc. has a one year low of $12.83 and a one year high of $20.54. 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 firm has a market cap of $244.89 million, a price-to-earnings ratio of -1.81 and a beta of 2.33. The stock’s fifty day moving average price is $18.22 and its two-hundred day moving average price is $16.37.

Forum Energy Technologies (NYSE:FET) last released its quarterly earnings results on Thursday, February 20th. The oil and gas company reported ($0.48) 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 the consensus estimate of $201.85 million.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. grew its position in Forum Energy Technologies by 63.7% during the fourth 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 in the last quarter. Tower Research Capital LLC TRC lifted 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 period. Hsbc Holdings PLC grew its holdings in shares of Forum Energy Technologies by 7.5% during the 4th quarter. Hsbc Holdings PLC now owns 26,722 shares of the oil and gas company’s stock worth $408,000 after purchasing an additional 1,862 shares in the last quarter. Barclays PLC grew its holdings in shares of Forum Energy Technologies by 7.7% during the 4th quarter. Barclays PLC now owns 29,851 shares of the oil and gas company’s stock worth $462,000 after purchasing an additional 2,137 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position 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 worth $130,000 after purchasing an additional 2,479 shares during the period. 65.60% of the stock is owned by institutional investors.

About Forum Energy Technologies

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.