Wells Fargo & Company MN Boosts Stock Holdings in Forum Energy Technologies, Inc. (NYSE:FET)

Wells Fargo & Company MN grew its holdings in Forum Energy Technologies, Inc. (NYSE:FET) by 41.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,423 shares of the oil and gas company’s stock after purchasing an additional 2,479 shares during the quarter. Wells Fargo & Company MN’s holdings in Forum Energy Technologies were worth $130,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. JPMorgan Chase & Co. lifted its holdings 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 buying an additional 3,693 shares during the period. Trexquant Investment LP bought a new position in shares of Forum Energy Technologies in the 4th quarter worth $315,000. Diametric Capital LP purchased a new stake in shares of Forum Energy Technologies during the 4th quarter worth $350,000. Barclays PLC boosted its position in Forum Energy Technologies by 86.0% during the third quarter. Barclays PLC now owns 27,714 shares of the oil and gas company’s stock valued at $428,000 after purchasing an additional 12,810 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Forum Energy Technologies by 41.0% in the fourth quarter. American Century Companies Inc. now owns 71,940 shares of the oil and gas company’s stock valued at $1,114,000 after purchasing an additional 20,925 shares during the last quarter. 65.60% of the stock is currently owned by institutional investors.

Forum Energy Technologies Price Performance

Shares of FET opened at $14.68 on Friday. The company has a 50 day moving average of $16.71 and a two-hundred day moving average of $16.53. The company has a quick ratio of 0.87, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. Forum Energy Technologies, Inc. has a twelve month low of $12.78 and a twelve month high of $21.57. The company has a market cap of $181.59 million, a price-to-earnings ratio of -1.34 and a beta of 0.73.

Forum Energy Technologies (NYSE:FET) last posted its quarterly earnings data on Thursday, May 1st. The oil and gas company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.39). 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 $193.30 million during the quarter, compared to analyst estimates of $196.45 million. During the same period in the previous year, the business earned ($0.12) EPS.

Analyst Ratings Changes

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

Insider Transactions at Forum Energy Technologies

In related news, CEO Neal Lux purchased 9,129 shares of Forum Energy Technologies stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average cost of $17.65 per share, for a total transaction of $161,126.85. Following the completion of the transaction, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 6.90% of the company’s stock.

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.