Russell Investments Group Ltd. Purchases 859 Shares of Forum Energy Technologies, Inc. (NYSE:FET)

Russell Investments Group Ltd. grew its position in Forum Energy Technologies, Inc. (NYSE:FET) by 63.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,208 shares of the oil and gas company’s stock after acquiring an additional 859 shares during the period. Russell Investments Group Ltd.’s holdings in Forum Energy Technologies were worth $34,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Wells Fargo & Company MN increased its stake in shares of 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. increased its position in Forum Energy Technologies by 71.7% during the 3rd 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. Monaco Asset Management SAM lifted its holdings in shares of Forum Energy Technologies by 9.8% during 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 buying an additional 6,709 shares in the last quarter. Tejara Capital Ltd boosted its position in shares of Forum Energy Technologies by 5.4% in the fourth quarter. Tejara Capital Ltd now owns 230,545 shares of the oil and gas company’s stock valued at $3,571,000 after acquiring an additional 11,736 shares during the period. Finally, State Street Corp grew its stake in shares of Forum Energy Technologies by 6.9% in the third quarter. State Street Corp now owns 198,479 shares of the oil and gas company’s stock valued at $3,068,000 after acquiring an additional 12,785 shares in the last quarter. 65.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Neal Lux bought 9,129 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $17.65 per share, for a total transaction of $161,126.85. Following the completion of the acquisition, the chief executive officer now directly owns 212,250 shares in the company, valued at approximately $3,746,212.50. This represents a 4.49 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 6.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Forum Energy Technologies Stock Down 1.6 %

NYSE FET opened at $14.93 on Monday. Forum Energy Technologies, Inc. has a fifty-two week low of $12.78 and a fifty-two week high of $21.57. The business has a fifty day moving average price of $17.47 and a two-hundred day moving average price of $16.57. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 0.87. The stock has a market capitalization of $184.62 million, a PE ratio of -1.36 and a beta of 1.74.

Forum Energy Technologies (NYSE:FET) last announced its quarterly 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). 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 net margin of 16.57% and a negative return on equity of 2.39%.

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.