Tejara Capital Ltd Increases Stake in Forum Energy Technologies, Inc. (NYSE:FET)

Tejara Capital Ltd lifted its stake in Forum Energy Technologies, Inc. (NYSE:FET) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 230,545 shares of the oil and gas company’s stock after purchasing an additional 11,736 shares during the period. Forum Energy Technologies comprises about 2.3% of Tejara Capital Ltd’s investment portfolio, making the stock its 17th largest position. Tejara Capital Ltd owned 1.88% of Forum Energy Technologies worth $3,571,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings 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. Barclays PLC grew its holdings in shares of Forum Energy Technologies by 86.0% in the third quarter. Barclays PLC now owns 27,714 shares of the oil and gas company’s stock worth $428,000 after purchasing an additional 12,810 shares during the last quarter. Monaco Asset Management SAM grew its holdings 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 purchasing an additional 6,709 shares during the last quarter. Icon Wealth Advisors LLC grew its holdings in shares of Forum Energy Technologies by 44.4% in the third quarter. Icon Wealth Advisors LLC now owns 91,758 shares of the oil and gas company’s stock worth $1,419,000 after purchasing an additional 28,225 shares during the last quarter. Finally, State Street Corp grew its holdings 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 worth $3,068,000 after purchasing an additional 12,785 shares during the last quarter. 65.60% of the stock is currently owned by institutional investors.

Insider Activity at Forum Energy Technologies

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

Forum Energy Technologies Stock Up 1.7 %

Shares of Forum Energy Technologies stock opened at $19.39 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 0.87. Forum Energy Technologies, Inc. has a 1 year low of $12.83 and a 1 year high of $20.54. The firm’s 50-day moving average is $18.15 and its two-hundred day moving average is $16.36. The stock has a market cap of $239.39 million, a price-to-earnings ratio of -1.77 and a beta of 2.33.

Forum Energy Technologies (NYSE:FET) last released its quarterly earnings results on Thursday, February 20th. The oil and gas company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $201.00 million during the quarter, compared to the consensus estimate of $201.85 million.

Wall Street Analyst Weigh In

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

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.