Trexquant Investment LP Purchases New Position in Forum Energy Technologies, Inc. (NYSE:FET)

Trexquant Investment LP acquired a new stake in Forum Energy Technologies, Inc. (NYSE:FET) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 20,342 shares of the oil and gas company’s stock, valued at approximately $315,000. Trexquant Investment LP owned approximately 0.17% of Forum Energy Technologies at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in shares of 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. Diametric Capital LP purchased a new position in Forum Energy Technologies in the 4th quarter worth about $350,000. Barclays PLC lifted its stake in Forum Energy Technologies by 86.0% during the 3rd quarter. Barclays PLC now owns 27,714 shares of the oil and gas company’s stock valued at $428,000 after acquiring an additional 12,810 shares during the period. American Century Companies Inc. boosted its holdings in shares of Forum Energy Technologies by 41.0% during the 4th quarter. American Century Companies Inc. now owns 71,940 shares of the oil and gas company’s stock valued at $1,114,000 after acquiring an additional 20,925 shares during the last quarter. Finally, Monaco Asset Management SAM grew its stake in shares of Forum Energy Technologies by 9.8% in 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 acquiring an additional 6,709 shares during the period. 65.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Forum Energy Technologies news, CEO Neal Lux purchased 9,129 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was acquired at an average price of $17.65 per share, for a total transaction of $161,126.85. Following the purchase, the chief executive officer now owns 212,250 shares of the company’s stock, valued at approximately $3,746,212.50. This represents a 4.49 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.20% of the stock is currently owned by insiders.

Forum Energy Technologies Stock Up 0.8 %

Forum Energy Technologies stock opened at $14.18 on Monday. Forum Energy Technologies, Inc. has a one year low of $12.78 and a one year high of $21.57. The stock has a fifty day moving average of $18.16 and a 200 day moving average of $16.64. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.87 and a current ratio of 1.93. The stock has a market cap of $175.38 million, a PE ratio of -1.29 and a beta of 1.74.

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 the consensus estimate 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 business had revenue of $201.00 million for the quarter, compared to the consensus estimate of $201.85 million.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Forum Energy Technologies from a “buy” rating to a “hold” rating in a report 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.