Forum Energy Technologies, Inc. (NYSE:FET) CEO Neal Lux Purchases 9,129 Shares

Forum Energy Technologies, Inc. (NYSE:FET) CEO Neal Lux bought 9,129 shares of Forum Energy Technologies stock in a transaction dated Thursday, March 13th. The stock was purchased at an average cost of $17.65 per share, with a total value of $161,126.85. Following the completion of the acquisition, the chief executive officer now directly owns 212,250 shares in the company, valued at approximately $3,746,212.50. The trade was a 4.49 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Forum Energy Technologies Trading Up 2.8 %

NYSE FET traded up $0.53 during mid-day trading on Monday, reaching $19.59. 43,787 shares of the stock were exchanged, compared to its average volume of 53,393. Forum Energy Technologies, Inc. has a 1-year low of $12.83 and a 1-year high of $20.54. The business’s fifty day simple moving average is $18.09 and its 200 day simple moving average is $16.35. The stock has a market capitalization of $241.92 million, a PE ratio of -1.78 and a beta of 2.33. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.87 and a current ratio of 1.93.

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

Hedge Funds Weigh In On Forum Energy Technologies

Large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. raised its stake in shares of Forum Energy Technologies by 63.7% in 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 acquiring an additional 859 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Forum Energy Technologies by 126.7% in 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. Wells Fargo & Company MN raised its stake in shares of Forum Energy Technologies by 41.7% in the 4th quarter. Wells Fargo & Company MN now owns 8,423 shares of the oil and gas company’s stock valued at $130,000 after acquiring an additional 2,479 shares during the period. JPMorgan Chase & Co. raised its stake in shares of 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 acquiring an additional 3,693 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of Forum Energy Technologies in the 4th quarter valued at $160,000. Hedge funds and other institutional investors own 65.60% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded 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.