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

Forum Energy Technologies, Inc. (NYSE:FET) CEO Neal Lux purchased 9,129 shares of the stock in a transaction that occurred on 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 purchase, the chief executive officer now owns 212,250 shares in the company, valued at $3,746,212.50. This represents a 4.49 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Forum Energy Technologies Trading Up 1.7 %

Shares of NYSE FET opened at $19.39 on Tuesday. The stock has a market cap of $239.39 million, a price-to-earnings ratio of -1.77 and a beta of 2.33. The business has a 50 day simple moving average of $18.15 and a 200 day simple moving average of $16.36. Forum Energy Technologies, Inc. has a 52 week low of $12.83 and a 52 week high of $20.54. 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). The company had revenue of $201.00 million for the quarter, compared to the consensus estimate of $201.85 million. Forum Energy Technologies had a negative return on equity of 2.39% and a negative net margin of 16.57%.

Institutional Investors Weigh In On Forum Energy Technologies

Large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. boosted 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 purchasing an additional 859 shares during the period. Tower Research Capital LLC TRC boosted its position in Forum Energy Technologies by 126.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,360 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 1,319 shares during the period. Wells Fargo & Company MN boosted its position in Forum Energy Technologies by 41.7% during 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. JPMorgan Chase & Co. boosted its position in Forum Energy Technologies by 71.7% during 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 period. Finally, XTX Topco Ltd bought a new stake in Forum Energy Technologies during the fourth quarter worth approximately $160,000. Institutional investors own 65.60% of the company’s stock.

Analysts Set New Price Targets

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

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.