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

Forum Energy Technologies, Inc. (NYSE:FET) CEO Neal Lux acquired 9,129 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were bought 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 owns 212,250 shares in the company, valued at $3,746,212.50. This represents a 4.49 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Forum Energy Technologies Stock Performance

Shares of NYSE FET traded up $0.53 during midday trading on Monday, hitting $19.59. The company’s stock had a trading volume of 43,787 shares, 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 firm’s fifty day moving average price is $18.09 and its 200-day moving average price is $16.35. 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 firm has a market cap of $241.92 million, a P/E ratio of -1.78 and a beta of 2.33.

Forum Energy Technologies (NYSE:FET) last posted its quarterly earnings results on Thursday, February 20th. The oil and gas company reported ($0.48) 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 during the quarter, compared to analyst estimates of $201.85 million.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Forum Energy Technologies from a “buy” rating to a “hold” rating in a report on Thursday, March 6th.

Institutional Trading of Forum Energy Technologies

Hedge funds have recently bought and sold shares of the company. Crossingbridge Advisors LLC bought a new stake in Forum Energy Technologies in the 3rd quarter valued at about $3,721,000. State Street Corp lifted its position in Forum Energy Technologies by 6.9% in the 3rd quarter. State Street Corp now owns 198,479 shares of the oil and gas company’s stock valued at $3,068,000 after purchasing an additional 12,785 shares during the last quarter. Barclays PLC lifted its position in Forum Energy Technologies by 86.0% in the 3rd 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 during the last quarter. JPMorgan Chase & Co. lifted its position in 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 purchasing an additional 3,693 shares during the last quarter. Finally, SCF Partners Inc. bought a new stake in Forum Energy Technologies in the 3rd quarter valued at about $12,843,000. 65.60% of the stock is currently owned by institutional investors.

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.