Barclays PLC Acquires 2,137 Shares of Forum Energy Technologies, Inc. (NYSE:FET)

Barclays PLC increased its holdings in shares of Forum Energy Technologies, Inc. (NYSE:FET) by 7.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 29,851 shares of the oil and gas company’s stock after purchasing an additional 2,137 shares during the quarter. Barclays PLC’s holdings in Forum Energy Technologies were worth $462,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Renaissance Technologies LLC raised its position in shares of Forum Energy Technologies by 20.4% during the 4th quarter. Renaissance Technologies LLC now owns 105,075 shares of the oil and gas company’s stock valued at $1,628,000 after acquiring an additional 17,775 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of 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. Wells Fargo & Company MN increased its holdings in 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 valued at $130,000 after purchasing an additional 2,479 shares during the last quarter. Trexquant Investment LP bought a new position in Forum Energy Technologies during the fourth quarter worth about $315,000. Finally, Diametric Capital LP acquired a new position in shares of Forum Energy Technologies during the 4th quarter worth about $350,000. 65.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Forum Energy Technologies Trading Up 1.6 %

FET opened at $14.68 on Friday. The firm’s fifty day moving average is $16.71 and its two-hundred day moving average is $16.52. The firm has a market cap of $181.59 million, a PE ratio of -1.34 and a beta of 0.73. Forum Energy Technologies, Inc. has a twelve month low of $12.78 and a twelve month high of $21.57. 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 issued its quarterly earnings data on Thursday, May 1st. The oil and gas company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.39). The business had revenue of $193.30 million for the quarter, compared to analyst estimates of $196.45 million. Forum Energy Technologies had a negative return on equity of 2.39% and a negative net margin of 16.57%. During the same period in the previous year, the business posted ($0.12) EPS.

Insider Transactions at Forum Energy Technologies

In related news, CEO Neal Lux acquired 9,129 shares of the stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $17.65 per share, with a total value of $161,126.85. Following the completion of the transaction, the chief executive officer now directly owns 212,250 shares of the company’s stock, valued at approximately $3,746,212.50. The trade was a 4.49 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.90% of the stock is currently owned by insiders.

Forum Energy Technologies 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.